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Kid Retail Store Ever thought of starting this business? Here's how

Just as it is with any other business, the first step to take when it comes to starting a kid retail store is to write your business plan.

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How to start a kid retail store business play

How to start a kid retail store business

(Teddy out ready)
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A business consultant once said, if you live in a city where the population is high, a kid retail store is arguably one of the best businesses to start.

And this is because it is almost impossible to experience a shortage of potential customers in the business so long the size of kid’s population is growing, which is always the case.

In addition, the market for children’s product has not only become enormous, kids are becoming more sophisticated and savvier with fashion now than ever.

However, if you’re thinking of starting a kid retail store but don’t have an idea on how to go about it, you might want to relax and continue reading because in this article everything you need to know to get started will be detailed.

Nevertheless, it is important to note that the need for you to carry out your own feasibility study cannot be overemphasized.

Here are steps to guide you on how to start a kid retail store

1. Draft your business plan

Just as it is with any other business, the first step to take when it comes to starting a kid retail store is to write your business plan.

This is because, writing a business plan is more like an eye opener, as it does not only gives you the opportunity to bring the business process- from planning to execution on paper- it also makes it possible for you to know everything you need to know about the business.

How to start a kid retail store business play

How to start a kid retail store business

(Monkey biz)

 

Specify what segments you want to cater to your store like clothing, toiletries, toys, kids furniture, shoes, personal care products, stationery etc. what age group will be your target customer.

It is also important to note that when writing a business plan, you should be careful enough to foresee possible limitations and devise an intelligent means to checkmate it beforehand.

Additionally, you’re expected to gather all the information you can on kid retail store; meet with people who have been in the business for some time and get all the ideas you can from them.

2. Location

Location is vital when it comes to starting kid retail store business. Such is the importance of it that those in business will attest to the fact that it cannot be overemphasized.

When starting a kid retail store business, think of a location that is busy enough to attract all the customers you need to get your business going. A busy junction in-between an industries and a residential area can be very profitable for your business.

How to start a kid retail store play

How to start a kid retail store

(Julian James)

 

You don't want to get a shop somewhere remote where only friends and family members can locate you with ease.

A marketplace would have been awesome, but since we’re talking about retail store and not wholesale, a shopping mall or a busy location will do just fine.

Another important factor to consider when choosing a location is the appearance of the store you will be using. If it is not attractive enough to lure in customers and you can’t do a thing about it to look inviting, please find somewhere else.

3. Hire the right personnel

It all depends on how big or small you intend to start. However, if you won’t be available at all times to oversee the business, it is important to hire the right personnel.

And when you think of hiring, it is advisable to hire skilled and experienced personnel with pleasant and attractive personality. This is because when it comes to in-shop activity, employees play the crucial role in making the sale done.

How to start a kid retail store business play

How to start a kid retail store business

(Teddy out ready)

 

4. Source for kid items.

When it comes to kid retail store, the items in it are as important as every other thing on this list.

Therefore, it is advisable for you to not only consider showcasing kids wear in your store, fun ideas such as stuffed animals or an exciting superhero should be added as well.

5. Advertise your business

No matter how busy the location of your retail store is situated, the importance of publicity cannot be overemphasized. Increase the reach of your business through publicity. And this can be done on social media, complimentary cards, or mouth to mouth.

ALSO READ: How to start fish farming business

 

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