I'm writing a business plan for an online scrapbooking store and wondering how much capital I'll need? Basically for inventory and marketing. I'd appreciate any insight.
2007-04-26 10:29:11 · 2 answers · asked by Anonymous in Business & Finance ➔ Small Business
Associations may be a good avenue to explore. 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:
* Scrapbooking For Profit: Cashing In On Retail, Home-Based And Internet Opportunities by Rebecca Pittman
* The Scrapbooker's Guide to Business by Kathy Steligo
* 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!
2007-04-30 04:55:20 · answer #1 · answered by TM Express™ 7 · 0⤊ 0⤋
There are no "rule of thumb" answers for your question. For inventory, its up to what you want to spend. Most wholesalers have minimum orders, perhaps your first order will be just enough to satifsfy the minimums. Or, perhaps you want to have enough inventory to have one of each item that you want. Either way, its up to you to add that up and its totally your call since its online you can have 1 - 10000000 items on it. Second, on marketing, it also depends on where and how you plan to market. If you plan to do online marketing, you can gague your pay-per-click budget on www.adwords.com. If you plan to do the yellow-pages, call them up and ask their prices. Basically, your answer requires YOU to do the homework because there is no cookie-cutter. Its X $'s answer. If you need some free advice, contact your local SCORE office. www.score.org. Thats the Service Corps of Retired Executives. They offer free consults (they are volunteers affiliated with the SBA) on how to plan a business. There are chapters all over the USA, so find yours and talk to one of those great people.
2007-04-29 11:36:22 · answer #2 · answered by Esmeralda 4 · 0⤊ 0⤋
probably good, if you advertised it well enough.
2016-03-18 07:56:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋