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Retail Business

Musical Instrument Sales

Keep your business in tune with your passion for music.

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Business At A Glance

Musical Instrument Sales

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

Business Overview

Retailing musical instruments is a fantastic business venture for themusically inclined entrepreneur who’s seeking a way to capitalize ontheir skills and interests. Ideally, this type of specialty retailingis best suited to a retail storefront.

However, for the financiallychallenged entrepreneur, the business could begin on a part-time basisfrom home; as a joint venture with a like-minded retailer, such as a CDshop; or online.

In addition to selling musical instruments, you canincrease revenues and profits by providing instrument repairs, classes,rentals, and sales of related products such as sheet music. Also, besure to establish relationships with schools, music teachers,associations and clubs in the community. This can be a fantastic way topromote your business, products and services quickly as word-of-mouthadvertising and referrals really work.

The Market

Your customers are local musicians, parents who want their children tolearn an instrument, anyone who wants to take up an instrument, andorganizations that teach or play music and need a supply of instrumentson hand (say, a church that needs a piano or a local music school thatneeds a drum kit).

Needed Equipment

Regardless of where you start up, you’ll need a decent inventory andthe ability to accept credit card payments. For repairs, you may needspecialty equipment depending on your area of expertise.

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Retail Business

Maternity Clothing

Moms-to-be don’t want to give up looking good. Cash in on this strong demographic.

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Business At A Glance

Maternity Clothing

Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

Celebrity moms like Cindy Crawford and Kelly Ripa aren’t the only oneswho know that muumuu-style maternity clothes are so last century.

Today, pregnant women are all about celebrating their style and lookingsexy. From high-end maternity designers like Liz Lange and A Pea in thePod to midpriced maternity wear newcomers The Gap and Old Navy,clothing designers are on to the potential of this growing market.Withmore than 4 million babies born annually, it’s easy to see why thematernity clothing market is buzzing Assuming the average expectantmother purchases only five new maternity garments while pregnant addsup to a whopping 20 million maternity garments sold each year in theUnites States alone.

There are a few ways to cash in on this very largeand lucrative market. The first is to design, manufacture and sell thematernity clothing, and the second is to purchase maternity clothing ona wholesale basis and resell the clothing for a profit. While bothoptions are viable in terms of generating profits for the business, thefirst option has the potential to generate more sales and profits aswell as providing more options for the operator in terms of marketingmethods. Profit potential will vary, however, markups of 100 percentare not uncommon in this industry.

Needed Equipment

It depends on your focus. If you’re going to create the clothingyourself, you’ll need a sewing machine and other tools of the trade.Once the orders start pouring in, you may want to contract with amanufacturer. If you will just be selling them, you’ll need storage andtransportation. For both, you’ll need a computer to keep track oforders, accounts and contacts.

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Retail Business

Wine Shop

Drink to your health and to your business.

Entrepreneur

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Business At A Glance

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

Business Overview

Retailing wine can be extremely profitable, and this type of business can even be operated from a well-positioned kiosk located in a mall or market. In the right location, walk-in customers will keep you busy selling lots of wine.

But as a method to bolster sales and profits, also be sure to establish alliances with event and wedding planners, catering companies, and business clubs and associations as they can become a great source of repeat business.

Like any retail business, seek a competitive advantage, meaning offer your customers something the competition does not. Perhaps phone-in orders with free delivery or maybe a weekly wine tasting night. The ability to separate your business from the competitions’ often is the difference between business success or business failure.

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Retail Business

Leather Fashions

Rope in customers by offering leather clothes and accessories with large profit potential.

Entrepreneur

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Business At A Glance

Leather Fashions

Startup Costs: $10,000 – $50,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

Selling leather fashions is another greatfashion retailing business to initiate. Worldwide there are thousandsof manufacturers of leather fashions and accessories, so securing awholesale source for products should not prove to be difficult.

In thespirit of being unique, consider retailing the leather fashions innontraditional methods including by ways of the Internet, home shoppingparties, and catalog sales. Like many clothing ventures, the profitpotential is excellent for a business that retails leather fashions, asmany items can retail for as much $1,000 each, and the same item canoften be purchased wholesale for less than $500.

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