What do you need to open your own store?

Answer 1

These are a few simple but important points to start the consideration process.

In the first instance you need to know what you intend selling. Space required for sales floor varies vastly depending on this. However, if you decide on a food products as an example then you will need to have at least 4000 square feet in a high street location bigger than this and you will have to consider supermarket sizes

Next you will need to ensure laws/licences are looked into. Depending on your country will depend on what laws apply for the selling of your product range.

Then identify the footfall (human traffic) passing your selected trading point. You will need to know how many potential customers will use your location, ease of parking and collection is vital.

If these initially are covered then you need to have your supplier list for the product's you intend selling. These will want expected SKU (Sales of Known Units) so that they can offer you a reasonable discount for purchase. This is especially important if you intend "stack it high and sell it cheap products". High turn over, low profit sales are a big plus when the economy is struggling.

Now you need shelving to stack food, fridges for chilled, freezers for the frozen ranges.

The shop floor will need a plan of where you will place these to form aisles for people to walk around. Shop lighting is important to make sure displays are optimised. Careful planning here is needed.

Storage for the additional stock not on display will need careful consideration - This will have to include refrigeration and freezers to hold bulk storage.

Consider also security storage for items of high value i.e. tobaccos' and alcohol - these can be easily stolen if there is a security breach.

Now you will need tills - preferably EPOS (Electronic point of sale ) with scanner capability. These can count the stock through it selling point and report it back to a computer (back office system) where you can use the data to reorder and monitor selling activity. Added to this is EPOS systems can be connected to the banks to allow the use of Credit and Debit Cards as well as cash sales.

You will need to consider the flooring used - something that is easily maintained is vital to cleanliness.

How will customers carry their good to the till, Shopping trolleys and baskets need to be considered as is the need to have packing materials such as plastic or better still paper bags.

Staff - How many will you need to cover the trading hours you are intending. These need to be interviewed and trained before opening.

Operational procedures - people will need to know what to do, when to do it and have reference points.

Insurances for customers and employer liability must be included.

This included any building codes, fire codes and health and safety codes required by the laws in your country.

Advertising for the initial launch to get that customer interest.

Credit agreements with suppliers and bank is a must to effectively start a business up - few if anyone has the money to buy everything required to open a store in one go.

In reality many of the poinst above are the same for any retail environment - it will just need customising for they type of outlet you consider.