5 Serious Signs It’s Time To Open A Store

By Monday, October 27, 2014 0 No tags Permalink

Opening up a store is a huge deal. Many people dream of opening a business. If you have loads of experience in retail or just know what will sell well, you can try your hand at running a store. 2015 is going to be a great year for small businesses. With the economy stable and new business investment, there are loads of great ways you can start making some serious money. If you think you’d like to open a store, but aren’t quite sure you can hack it, read this. Here are five serious signs it’s time to open a store.


1. Your hobby has taken off


Many people have hobbies that they enjoy doing in their spare time. If you have a crafty hobby, such as knitting or making jewelry, you could make some money out of your skill. Try selling your products online on sites, such as Esty first. If your products sell well online, the chances are your store will be a huge hit. Think about whether you can make enough products for your store. It might be worth partnering up with another crafty person so that you can have a joint store.


2. You can afford to open a store


Opening a store is quite expensive. Before you do anything, you should take the time to weigh up the costs of opening your store. Do a retail property search in Wollaton so that you can get an idea of how much rent will be. You should also weigh up the cost of taxes and staff before you make a decision. It might be worth visiting an accountant before you decide on anything. He or she can go through your finances and see whether it is viable for you to open a store.


3. Your eCommerce site is popular


Many young entrepreneurs have found great success by opening eCommerce sites online. If you are one of them, you might want to think about opening up a store as well. If you are selling loads of products online every day, opening a store could be the next step in expanding your business. Make sure that you are ready for all that this step will entail. Selling things online is different from selling things in person. You will need to come up with a whole new marketing strategy to ensure that your store is a success.


4. You’re ready for a challenge


If you want an easy life, you should never take any risks. Opening your store will be a huge risk. You will have to risk your finances, your time and your pride if you want to make things work. That means that you need to be ready to take on a huge challenge. If your heart is not in the business, you won’t succeed. You don’t want to waste your time and lose money, so you need to be sure that this is what you want. Talk to your close friends and family about the decision. They know you best, and so can tell you whether they think you’ll make it.


5. You have creative flair


Running a store is not all admin. Sure, you will spend a lot of time counting stock and sorting out the accounts, but there is more to the job than that. You need to be a creative person if you want to open a store. You will be marketing the store as well as running it. That means that you need to come up with innovative ideas and concepts. You will also need to design the interior of the store. Make sure that you have creative flair before you embark on your journey into the world of retail.


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