How to Open a Wedding Supply Store
Some girls dream of the perfect wedding day long before their partner pops the question, so they're geared up and ready for planning, shopping and spending. Wedding supply stores include enterprises specializing in reception linens, tableware and glassware rentals, wedding finery, guest favors, invitations and many other elements comprising wedding celebrations. Tap into potential revenues by opening a wedding supply store. This takes research, planning and organization, but you'll enjoy making brides happy in preparation for their special day.
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Instructions
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Scout your area for existing wedding-related businesses to identify a niche. If the city already holds numerous wedding sound-and-lighting supply businesses, steer clear of the saturated market in favor of something fresh. If you're committed to establishing a wedding dress boutique amid a bounty of existing wedding dress stores, break out from the crowd by offering budget gowns instead of designer gowns, or vice versa.
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Apply for appropriate licenses. Weddings may be lovey-dovey events, but businesses must uphold all government and legal regulations for running businesses. Designate a legal structure for your wedding supply store, whether it's a sole proprietorship, partnership or corporation. Apply for a business license and tax identification number and purchase liability insurance.
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Lease or buy a storefront. Your wedding supply store should appeal to brides and their entourages with safe location, convenient parking and windows for showcasing merchandise. Include a private reception area so that couples can hold discreet conversations about budget and preferences before making big purchases. Thoughtful touches include look-books of clients' past wedding celebrations, inexpensive champagne for toasting wedding decisions (and sales) and a gentleman's area for browsing magazines or relaxing while female customers browse merchandise in minute detail.
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Stock your wedding supply merchandise. Build inventory by purchasing from individuals, contracting with online suppliers or selling wedding items on consignment. Opt for buying inventory at competitive pricing so that you'll have wiggle-room for discounting merchandise should customers want to build packages or haggle.
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Market your supply shop. Hold a grand opening with special discounts for new clients who sign contracts that day. Distribute business cards and flyers to complementary businesses, including photographers, limo rental companies and hair stylists. Build a website with professional-quality photos of wedding supplies, customer testimonials and contact information.
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Tips & Warnings
Brides, grooms and their entourages want special treatment when preparing for their special day, especially when they're spending lots of money. Be sure to hire friendly, knowledgeable salespeople capable of juggling the needs and preferences of multiple clients while scoring high sales.
Outdated merchandise spells doom for wedding supply stores; some couples recoil at the thought of cheesy flower arrangements, table settings or wedding favors. Stay up-to-date by reading trade journals, attending wedding trade shows and checking in with hip brides to see where their preferences lie. Supplies that were hot two years ago could be hopelessly out of date today, so maintain trim inventories to avoid profit loss or the prospect of foisting inferior goods on customers.
References
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