Retail Store

Step 1: Find your niche.

The first decision you'll need to make in order to learn how to start a retail business is figuring out your company's niche. You may already have an idea of the type of company you want to form, or you may still be grappling to figure out where to focus your retail company.

Step 2: Write a business plan.

By writing a business plan, you’re providing yourself (and, potentially, future lenders and other stakeholders) a physical roadmap detailing every step you’ll take to open and run your retail business.

Step 3: Register your business.

With your business plan and budget in hand, you can now move on to the next step involved in learning how to start a retail business—making it official.

Step 4: Obtain licenses, permits, and business insurance.

Some states require a general business license, while others require licenses and permits at an industry level. You may also need to acquire local permits and licenses, so consult your county or city clerk’s website for their particular requirements

Step 5. Ways to Find Manufactures

• NETWORKING

• FORUMS

• GOOGLE

• KOMPASS

• SQETCH

Step 6. How to Find the Right Location for Your Store

• Size of the city’s trading area

• Population and population trends

• Total purchasing power and who has it

• Total retail trade potential for different lines of trade

• Number and size of competition

• Quality and aggressiveness of competition

These are factors in narrowing down your site choices:

• Traffic flow

• Complementary nature of neighboring stores

• Adequacy of parking

• Vulnerability to competition

• Cost of the site

Step 7. Supplies Needed

• Point of sale system: It’s how you’re going to get paid and it’s how you’re going to make it easier for your customers to pay you in different ways.

• Displays, fixtures and furniture

• Mannequins: The right mannequins will show off your clothing products in the best light.

• Display racks: You want some racks so you can display your apparel in various different sizes, colors and categories.

• Hangers: Good-quality hangers will store weighty or bulky clothing, while making it easy for customers to see essential information about sizing.

• Tables and cabinets: These can be useful for merchandising accessories, smaller products and any fragile goods. Choose portable tables, if you want to be able to experiment with different placements within your store.

• Mirrors: Help your customers check out how your clothing looks. Aisle and ceiling mirrors can also be useful for other kinds of stores too, because they offer lighting benefits. And they boost your security awareness, by allowing your staff to see store areas and customers from a distance.

• Employee and office supplies

• Uniforms and name tags: Make an impression and make sure customers can find your staff in the store, with uniforms and name tags.

• PAs and two-way radios: If you have a large floor space, consider installing a public address (PA) system. Two-way radios also help your staff communicate with one another about stock questions, customer enquiries and price checks.

• Break room supplies: Take care of your employees. Keep your employee break room well-stocked, if you have one. Add a microwave, kettle, snacks, and a tea, coffee and water station. Keep a first aid kit on site too in case there’s any minor injuries.

• Training and induction: Think of training binders and other educational resources to help your staff learn about products, customer relations, store operations and workplace health and safety.

• Indoor and outdoor signage

• A-frame pavement signs

• Branded awnings

• Floor mat signs

• Restroom signage

• Change room signage

• Anti-theft and CCTV signage

• Hanging or freestanding banners

• Cleaning products: You want to make sure that you have all the retail store supplies you need to keep your store looking clean and well-maintained. So have a think about things like janitorial supplies, mops and buckets, cleaning products and less used supplies like paint and hardware.

• Security supplies

• HD CCTV cameras

• Security tags

• Wired grip holders

• Display locks

• Magnetic holders

• Physical cables

• Customer cards

Cited Sources:

How to Start a Retail Business: A 10-Step Guide - NerdWallet

How to Start a Retail Business | Square

How to Start a Retail Business in 13 Steps

21 Steps to Starting a Retail Store | SCORE

How To Find Custom Clothing Manufacturers For Startups – virtue + vice

How to Find the Right Location for Your Store (entrepreneur.com)