Why open up a retail store?
If you're an entrepreneur with big dreams, then there is a huge opportunity waiting for you in the retail world. Whether you have an idea for a product or simply want to sell other people's merchandise, opening up a retail store will let you share your passion and hard work with the public.
These ten reasons should give you all the motivation needed to take the leap and start your own business.
Why open up a retail store?
1. Not everyone needs to buy products:
One of the most common reasons why people decide not to start a business is the fear of running out of customers. Many people assume that because there are many stores in a mall, no one will have need for your goods. The truth is that you can still get your name out there even if nobody has an immediate need for your product. You can still connect with people and have a positive impact on their lives, even if not everyone has an immediate need for your product.
2. More than just selling stuff: Most people think of retail as just selling stuff, but there is much more depth to it than that. As a retail store owner, you will be able to learn more about products than an average person would ever know. You will also find that you can help people by recommending items they might not have otherwise known about.
3. Personal development: If you're passionate about a product and use it most days, then opening up your own retail store could add a new dimension to your life. You can really explore how an item fits into to your daily routine.
4. Connecting with people: If you open up a retail store, then it is much easier for customers to visit you if they have any questions or need advice on certain products or services that might interest them.
5. Freedom from business hours: You don't have to be stuck at work when you want to do something else other than business. This will give you a great sense of freedom as well as those precious additional hours that you can put towards your passion.
6. Starting from scratch: Just because you are starting out doesn't mean that you will be setting up your business in an area that is already filled with competitors. Take the time to look around and see what types of stores are already there and how they are doing it so that you can understand better what it takes to make your business a success.
7. You will have more time: Even if you don't work through the day, many retail store owners find that they still find themselves with plenty of time in their hands. This gives them the opportunity to observe customer trends and figure out ways that they can connect with people better.
8. Getting involved in local activities: In today's world, there are many ways in which you can get involved in your community. If you run a retail store then you will be able to get involved in charity work or other initiatives that will help benefit your area as well as visitors.
9. Developing a network of sales representatives: You need to have a reliable network of sales representatives in your area to ensure that you don't miss out on potential business. By opening up your own retail store, you will be able to use its location as a springboard for other people who are passionate about your product and can help you market more effectively.
10. More time spent with family: If you have kids, then you already know how hard it is to juggle work and parenting. As a retail store owner, it is much easier for you to spend more time with your children because you no longer have regular working hours and can work from home on occasion when necessary.
11. A steady income: Being your own boss and having the ability to come and go as you please will allow you to build a reliable source of income that you can use in the future. Those who run retail stores often find that they can start with less capital than those who decide to go into business for themselves.
12. Meeting new people: If you open up a retail store then you will meet many new people who will understand your passion for selling products. This means that you have more of a chance of striking up a friendship or even possibly meeting someone with whom to start a long-term relationship based on shared interests.
13. You can expand your customer base: Running a retail store means that you are no longer limited to just a few people in your area. As you grow your business, you will be able to expand reach even further and sell to customers who can't normally travel to see you in person.
14. Better cash flow: When you open up a retail store then it is much easier for people to find you, which means that they are more likely to buy from there than by having you come around and try to sell the product directly at their houses or offices. This means that your customers will be more likely to make immediate purchases because they won't have the time or energy for haggling over prices.
15. Working from home: If you have kids or simply prefer to work from home, then opening up a retail store will allow you to remain at home in the comfort of your own home. As long as you have a reliable internet connection, you can run your business from anywhere in the world as it is all about connecting with customers online.
16. More flexibility: If you love what you do and want to be your own boss, then being able to work when and where it suits you is the ultimate goal. This often means that retail stores are open on weekends and sometimes later than their normal business hours.
17. It can be lucrative: The retail market is a large and growing field with plenty of room to grow for those who are passionate about their work. As you can see, there are many advantages to running your own retail store. Take the time to give it some thought and see whether opening up a store is the best business decision for you. If you have any questions or need help finding the right products, then please feel free to leave a comment and I will get back to you as soon as I can!
You might also enjoy reading: 22 Things To Be Happy About Every Day
I hope this post helped in guiding you better on what is retail store really all about.
Conclusion
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This article is also available in Chinese version : 中文版 : 深圳急所手工艺品小店 (简体中文) As quoted in the previous post, My favourite book is "American Psycho" by Bret Easton Ellis. The most interesting movie I watch is "The Social Network" by David Fincher. I am a big fan of Guitar Hero and love to make the most of it.