What do I need in order to start me own retail business?

Question

I know I need a business licene and a retail license, is there anything else I need?

Answer 1

You need several things, A business plan to start. What are your goals, and how do you plan to reach them? You should have at least one years living and operating expenses in the bank, in addition to what it takes to open your store. It will take twice what you expect in most cases just to open. I have opened and run many businesses. Just try as hard as possible to expect the unexpected. Be careful signing leases, and I wish you all the luck. Remember that being the boss, means you get to pick which 80-100 hours a week you get to work. Again Good luck, Sasori San

Answer 2

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 some relevant 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 3

Besides the licenses, you need to have a SOLID business plan. Businesses don't PLAN to fail, they most often FAIL to plan! You must have a business strategy. Most businesses FAIL because of one of the following reasons:

1.Lack of money;short and long term
2. Unskilled or inexperienced management
3. Lack of knowledge
4. Lack of commitment

Plan for regular business expenses, cash flow gaps in normal business marketing seasons, the unexpected..
Study up on management techniques(if you are not experienced). Seek outside management consultation professionals if needed!
Study your competition! Watch them! Stay aware of industry trends, and beat them.
So seek out alternative sources of money. And don't just look for investors, look for investors who are experienced in your exact business. These investors will have a vested interest in your business.They will be able to provide cash, industry expertise, guidance, and knowledge as your company grows.
Commit to your business-dont let life get in the way. Resolve solve problems. Lastly, have fun with what you do. LOVE what you do, it is truly the only way to true success! You can do it!!

Answer 4

a buddy of mine who has almost as much retail experience as I do would suggest you find a good therapist but...

talk to your local chamber of commerce, and check with your Secretary of State's office at your states capital. both will have an abundance of information for you.

good luck

Answer 5

A good product line, location and knowledge about the business.

http://www.managementhelp.org/

Good Luck...

Answer 6

you need just money money and money.