How To Start A Running Store
If you are interested in finding out how to start a running store, you will need to have a well-planned strategy in order for your business to be a profitable endeavor. You will have to create a business plan, obtain financing from a commercial lender, and find suppliers to stock your shelves. The store location is critical, so you must choose a place that has heavy traffic such as a mall or shopping center. Staff must be hired, and you must obtain all of the proper licensing and permissions to launch your store. Consult with an accountant to properly structure your organization for maximum profitability.
- Create a business plan and marketing strategy. You can have an accountant or other business planner help you develop your company’s short and long term goals. Once you have determined the running store is an acceptable risk, proceed with the required licensure and business start up paperwork.
- Find a lender willing to finance your running store. Tell the lender you want to start a running store business, and ask them what they need in order to approve you for a start up business loan. Give them your business plan and financial information, so they can proceed with the loan investigation. Once you are approved, go over the loan documents and determine how much capital you have for your inventory and operational needs.
- Contact running store suppliers. Set up accounts with the suppliers you choose, and arrange for financing or use the money you obtained from the lender for your start up costs.
- Hire staff for your running store. Make sure the people you hire are qualified to run the store in your absence, if you do intend on being present on a day-to-day basis. Have them fill out the required insurance paperwork and related work forms.
- Have a grand opening sale. You and your staff should have the merchandise nicely displayed and organized for customer convenience. This will jump start a running store business and bring in some customers.