Opening an office supply store is a great way to financial freedom. The potential for gain is under your control and the benefits of your hard work increase your own profits. You choose the number of hours, days and shifts that you work while putting the days of answering to someone else behind you.
Instructions
1. Form a sound business plan. Having a professional plan not only aids in the success of your store later, but it also appeals to investors in the early stages of obtaining finance.
2. Obtain financial backing to open your store. Possible investors include friends, family, banks and private investors. Another way of financing your business is to use your own funds, but this involves more risk than seeking outside investors.
3. Find the right location for your office supply store. Take into consideration the cost of rental, parking and accessibility to the store, surrounding businesses and zoning laws for that particular area. A store surrounded by thriving businesses may increase your chance of profit, but the cost of rental in such a location will probably be much higher than in a less frequented area.
4. Secure the appropriate licenses and merchandise needed to stock your store. Wholesalers are a great way of obtaining the merchandise needed. Buy the office supplies in bulk to save even more.
5. Hire the number of employees needed to keep your business running efficiently. Work in the store yourself as much as possible to save on employee salaries and benefits or request the help of family and friends.
6. Draw attention to the store by using specials, promotions and publicity for the opening day event. Lure people in with great deals and incentives then ensure that they will come back by providing them with excellent service.
