How do i start a business of selling agro chemicals.Retail only?

Question

I want to start the bussiness as soon as possible. I have already secured a credit line with my bank.

Answer 1

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for general retail association links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Start and Run a Profitable Retail Business by Jim Dion, Ted Topping
* Retail Business Kit for Dummies by Rick Segel
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder
* So You Want To Own The Store: Secrets to Running a Successful Retail Operation by Mort Brown

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

You did not indicate where you plan to open your retail store so I will assume this is the US.

Here are some steps:

1. Research your market. Will the store be located in an agricultural area or a place where people would actually buy your products? How big is this market? Is the demand sufficient to support your store?

2. Think of your business strategy. At this stage, start thinking how best you will find your customers and distribute your products. Will you only offer your products through your store or will you sell on the Web? How feasible is it to sell your products on the Web considering the mail restrictions for chemicals?

3. Prepare your business plan. Write down everything about your plans for the business -- from your research on the demand for the product, size of the market, the startup expenses you will need, your financial projections. Even though your business plan may not hold up in real life (e.g. you made too many false assumptions), but it can help you learn more about the business.

4. Line up financing. How are you going to finance the construction of your store, purchase of your inventory, hiring employees, etc? Do you have enough resources to support the business (and your family) from the startup to the next year? Or will you apply for a loan from the bank or a relative? Will you get investors?

5. Start the process of getting the permits and licenses. From your business licenses to zoning permits to fire department approval, visit your local county and ask them for everything you need.

6. Look for a location. Find a location that your target market can easily see and access your store. Get a space with adequate parking. Consider storage and safety of your inventory

7. Start planning your marketing, including pre-launch marketing. Do you have a list of potential customers to your business? If you have you can contact them letting them know that a new store is coming up soon that can serve their needs. Also during the opening of your store, what activities will you do - press release, grand opening party or something else?

Here are some books I recommend (they may not tackle the specifics of your business but they can give you ideas on how to start a retail business)

- Specialty Shop Retailing: How to Run Your Own Store (National Retail Federation Series) by Carol L. Schroeder
- Retail Business Kit for Dummies by Rick Segel
- Start and Run a Profitable Retail Business (Start & Run a) by Jim Dion

If you need someone to guide you and who you can consult with, I suggest you find a mentor. There are several places where you may be able to find a mentor:

- Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
- Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
- Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
- Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
- Industry and trade associations
- Local business groups, such as the chamber of commerce
- Local chapters of business groups