How to Open a Small Maternity Resale Store
If you have decided that opening a small resale maternity store in your town makes sense, it is best to give yourself six months to a year to plan your business and cover all your bases so that you can open with confidence. Take into account the economy as well as your own financial situation: Setting up an exchange store that buys and sells resale maternity items in addition to new retail items may expand your customer base.
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Instructions
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Find a retail space by contacting a reputable real estate agent to show you spaces in your area. From this point, you can more accurately determine what your overhead costs will be. Depending on your budget, you may also hire an interior designer or architect to make your chosen space more appealing.
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Make a list of expenses that you will incur. Include costs to hire an accountant or financial planner, advertising expenses, the cost of goods, employee expenses, real estate rent or mortgage, hardware, computer software, etc.
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Target and poll your potential customers to secure the best resale maternity items. Take out an ad in a local paper that targets mothers, or tap into email lists to contact friends and family. Compile a list of items you would like to feature in your store that you believe pregnant women or new mothers will be seeking. Be specific; list brands, sizes, accessories, seasonal garments, etc. Check out competitors, which may also give you ideas on how you can differentiate yourself.
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Find an attorney and accountant or financial planner to help you set up your business banking and complete all the necessary legal paperwork. File with the IRS, and don't wait until the last minute: In addition to ensuring the legality of your business operations, you can also discover aspects of your business you can write off, reducing your total business expenditure.
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Staff and stock your store prior to opening. Consider how many people will you need for the size and hours of your operation, as well as how many people you can afford to hire. Determine the type of employee you will need as well. It may be important to hire individuals who have had previous retail or maternity store experience.
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