How to Start a Retail Baby Store
Considering the amount of newborns born each year and the number of new parents, a retail baby store provides a good opportunity for you to attract many customers. For example, parents need to shop for their babies and children; grandparents, relatives and friends all shop at retail stores to purchase gift items for babies. Setting up a successful store involves finding the right products, specialty baby items and brands that parents can trust.
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Things You'll Need
- Retail licenses
- Sales tax permits
- Baby products/supplies
- Start-up funds
- Retail space
Instructions
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Decide on the type of retail baby store you want to open. Decide if you want to own a general retail baby store that sells many different products or a retail baby store that specializes, such as in baby clothing or infant and toddler toys. Review the different types of stores in your area to help figure out what your area needs and to narrow down your ideas.
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Research suppliers and prices for baby products. Visit online business-to-business search engines like Kellysearch.com, SourceTool.com and ThomasNet. Type in keywords related to the products you want to find. For example, type in "infant clothing" or "baby toys." Contact the manufacturers you find and inquire about wholesale prices for baby products.
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Create a business plan. Business plans help organize your thoughts and ideas and help you create a road map for business success. In your business plan, write about the products your retail baby store will sell, including descriptions of items and general costs for each. Write a section on each of your competitors, such as other area baby and children's stores, and explain how your store will differ and what marketing tactics you'll use.
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Look for empty retail space for your baby store. Find a spot that would make a suitable place for parents to shop and take their children. For example, shopping malls have other stores, spaces and activities--such as play areas for children and food courts--that parents and children can take part in aside from shopping.
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Acquire the appropriate business licenses and permits. Create a name for your baby business. Register this name and your business's structure--such as sole proprietorship or limited liability company--with your state. Obtain a federal employer identification number (EIN), if needed. Complete paperwork required for sales tax licenses and any other retail licenses needed from state and local authorities.
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Organize the start-up funds you need and prepare to open your store. Visit a local bank, or a credit union you're a member of, and apply for financing if needed. Pay for the retail space you located. Place orders and pay for baby clothing, toys and other products from manufacturers and suppliers.
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Set up your store. Design the inside to be both parent-friendly and child-friendly. Paint the walls using a combination of welcoming and vibrant colors, such as light pinks, greens, blues and reds. Make the aisles of your store wide enough to accommodate parents shopping with baby strollers. Set up displays with "featured" products around the store to attract attention to popular baby items.
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References
Resources
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