Starting a Corner Store
Opening a retail store is one of the many businesses that give employment to a lot of people. If you want to open a corner store, then, you have to think of some factors that will affect the success of your store, like the population in the community around your store, or how much capital you need to raise to start the business.
Corner stores, as well as other types of retail stores, are a source of income to millions of Americans.
Corner store owners provide goods to a certain community, like food, apparel, appliances, electronic and electrical equipment, and so on. Likewise, retailing is also considered as one of the largest job providers in the world as it gives self-employed entrepreneurs the chance to earn a living. They are the people who invest their capital, labor, and skills to offer what the consumers need.
Now, what should you do when you want to start a corner store?
First, assess the location where you want to open a corner store. If there are a lot of houses or people around, then, the location is right for your business. The idea of opening a corner store is because there are a lot of consumers to buy your products. There’s totally no sense of opening one if you don’t have customers at all.
Second, you need to have capital. Estimate the cost that you will incur when you build or rent a space. Estimate how much will you spend in purchasing the goods that you will sell. Typically corner stores only require a small start up capital. If you don’t have any, you can try borrowing from your family or the bank. Banks can provide small capital for your business, provided you have a business plan to show them.
Third, open your store at a strategic location. That is, open it at the corner of a street where there are a lot of people passing by. It’s ideal if your store is visible and accessible to the public.
Fourth, make sure you have the supplies. You may buy your goods directly from suppliers. Buy wholesale as much as possible. You can save more when you do so. Some suppliers even give discounts or freebies to those who buy in bulk rather than retail.
Fifth, have a display window. See to it that the public can see a small portion or the whole line of your products displayed. It’s also a kind of advertising. You let the public know that you sell such stuffs, luring them to go and try your products.
Sixth, be friendly to your customers. There’s no better way to attract more customers than having a smile on your face. Wear it every time you have a customer. Remember, a word of mouth from a discontented customer may ruin your business.
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