Starting your own supplement store is a lucrative business. It is a great business opportunity for those who are interested in nutrition and health. Many people take nutritional supplements to maintain good health. Dieters use supplements when dieting. Athletes take supplements to improve and maintain maximum athletic performance. Other individuals use supplements to maintain good health. Therefore, starting your own supplement store has the potential to make you successful.
Choose a name for your supplement store. Go to your county clerk's office and register your chosen business name as your DBA (doing business as). A DBA is a fictitious name or assumed name, and it is a business name that is different from your legal name. Conduct a name search at the county clerk's office to be sure that another business has not used your chosen name. If the search shows that the name is available, you can register it. Apply for a seller's permit at the same office because you will collect sales taxes from in-state customers.
Register your supplement business with the U.S. Food and Drug Administration (FDA). This office monitors the sale of nutritional and health supplements in the same manner as food. To be certain that you are abiding by FDA regulations, call them at 1-800-216-7331 to get full details about the requirements.
Purchase a liability insurance for your supplement store to protect you and your business. You can purchase this type of insurance through most insurance companies. Talk to an insurance agent to find out exactly what coverages you need for your business. You can shop around and compare various offers before choosing one.
Find a location for your supplement store. The appropriate location for a supplement store would be a well-traveled area where there are many stores. Consider setting up your store within a busy shopping center. Use an attention-grabbing sign on your store that displays your store name and other useful information that will get people's attention and lure in passersby.
Locate a supplier of health and nutritional products. Find a manufacturer or wholesale distributor of health supplements and start purchasing the products you need for your store. Begin stocking your store once the orders start arriving. To find suppliers of supplements, go to trade shows or go online and search for health supplement suppliers. Also, supplement manufacturers are listed on supplement bottle labels.
Promote your supplement store. Run advertisements in the local newspapers to familiarize people with your store. Print advertisements and distribute fliers to promote your supplement store. Join the local Chamber of Commerce so you can gain more exposure for your supplement business. Network with other supplement store owners, local health care facilities, gyms and other businesses.