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Retail Business

Convenience Stores

Set up shop in a convenient location and you’ll have customers dropping in.

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Business At A Glance

Convenience Stores

Startup Costs: $10,000 – $50,000
Online Operation? Yes

Business Overview

In spite of the rising popularity of internet shopping combined withhome delivery of grocery and convenience items, starting and operatinga ‘mini convenience store’ is still a good business venture to activatethat has the potential to generate respectable profits. The namesuggests it all. In order to succeed in this segment of the highlycompetitive retail industry, the store must be convenient.

This meansan easily accessible and highly visible business location, well-stockedwith the most popular convenience products, and fast and friendlyservice. Remember, if a customer’s shopping experience at the store isnot convenient then there won’t be any repeat business.

In addition tothe usual supply of convenience products, such as milk, eggs, bread,snack items, and soda pop, be sure to add other products and servicesto attract customers to the store and keep them returning as repeatbusiness. These products and services can include lottery ticket sales,tobacco products, newspapers and magazines, a fax service,photocopying, calling cards, postal stamps, and even fresh-cut flowersfor sale on a daily basis.

Once again, business location is the key tosuccess. The business must be located with easy street access and goodparking, or alternately in an area of heavy foot traffic like a mall,transportation terminal, or office district.

The Market

People in a need of a convenient, one-stop place for one or more of their needs

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Retail Business

Pawnbroker

Use your negotiating skills by opening up a pawn shop and bringing in second-hand goods.

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Business At A Glance

Pawnbroker

Startup Costs: $10,000 – $50,000
Online Operation? Yes

Business Overview

Pawnbrokers sometimes get a bad rap, andunfortunately it only takes a few bad apples dealing in stolenmerchandise to give the industry a bad name for all operators ofpawnshops. However, like any business venture, eventually the badbusiness operators will disappear and the good operators will flourish.

Starting a pawnshop business is a good choice as a business start-upfor a few reasons, such as no special business skill requirements,relatively low initial investment, and excellent profit potential.Furthermore, utilizing used product pricing or value guides such as theBlue Book take away any guesswork in terms of the wholesale and retailvalue of products.

The key to success for operating and profiting froma pawnbroker business is to keep all transactions legal, establish thebusiness in the right location, deal only in up-to-date merchandisethat has real value, and always practice good negotiation skills.

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Retail Business

Work Uniforms

Millions of people have to wear uniforms to work. Target this demographic by selling work uniforms.

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Business At A Glance

Work Uniforms
Startup Costs: $10,000 – $50,000
Home Based: Can be operated from home.
Online Operation? No

Business Overview

There are a few options available when considering starting a business that retails work uniforms and work clothing. The first option is to establish a retail storefront location to stock and sell work uniforms. The second option is to establish a mobile business that sells work uniforms from a large van or delivery truck.

Both options have drawbacks and benefits in terms of the business. However, the second option of being a mobile retailer of work uniforms will be less costly to establish, as well as operate. The types of uniforms and work clothing that can be sold include work overalls, health-care uniforms and scrubs, fire and police service uniforms, and school uniforms.

Also stocking and selling specialized footwear, such as steel toe work boots, can earn additional revenues. Regardless if the business is operated from a fixed retail location or on a mobile basis, one of the main marketing tools required is a full-color catalog that features the work wear available for sale. You’ll want to distribute this catalog to any local businesses in need of your uniforms. You might also want to offer discounts on bulk purchases to influence businesses to choose you as their main uniform supplier.

The Market

Local businesses, people in the healthcare industry who must purchase their own scrubs, parents of children enrolled in schools requiring uniforms

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Retail Business

Lighting Shop

It’s time to shine some light on your business startup.

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Business At A Glance

Lighting Shop

Startup Costs: $10,000 – $50,000
Online Operation? No

Business Overview

Upgrading or replacing interior lightfixtures has become a very popular home improvement project for manyhomeowners simply due to the fact that this type of improvement isrelatively inexpensive and can have a beneficial impact on theappearance of their homes.

Starting a business that sells interior andexterior lighting products is a wise choice for a new businessenterprise. This sort of retail operation does not require a lot offloor space and as a method to reduce start-up costs you may evenconsider forming a joint venture with an established retailer in yourcommunity.

Good matches for this type of retailing alliance wouldinclude a furniture store or paint and wallpaper store. Also be sure toinitiate a direct-mail marketing campaign aimed at architects,homebuilders, and interior designers, as they can also become customersor refer their customers to your store.

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