Categories: Advice

How to Start a Retail Business

Hard to believe, but we’re already to the ‘Rs’ for our ABCs of Small Business Industry series! And today’s R is for… retail!

Now when we think retail we typically think of clothing stores. But retail can be broken down into a few different categories: store retail, specialty retail, non store retail, mail order retail, internet retail, and vending machines.

So you want to start a business in the retail industry… where do you start?

Start with a unique idea. Something you think will set you apart from other retail stores. Secondly, in retail, finding a location is very, very important. The location of your store can make or break your business’s success, so find a location early. Ideally, your location will be somewhere with excellent foot traffic, have adequate parking for customers, come with an office in the back, and, most importantly, an attractive shopping space. Along with finding a good location, don’t forget to check out the zoning regulations that apply to wherever you’re looking to set up shop.

Is the retail industry healthy?

According to Entrepreneur.com, retail is one of the fastest growing segments in this economy. More than 24 million people earn their livelihood thanks to the retail industry. Not only is this industry alive an well, it provides jobs for millions, beyond just the job of CEO.

If you want help starting your retail business, give us a call at 1 877 692 6772 or visit us at www.mycorporation.com!

Deborah Sweeney

Deborah Sweeney is an advocate for protecting personal and business assets for business owners and entrepreneurs. With extensive experience in the field of corporate and intellectual property law, Deborah provides insightful commentary on the benefits of incorporation and trademark registration. Education: Deborah received her Juris Doctor and Master of Business Administration degrees from Pepperdine University, and has served as an adjunct professor at the University of West Los Angeles and San Fernando School of Law in corporate and intellectual property law. Experience: After becoming a partner at LA-based law firm, Michel & Robinson, she became an in-house attorney for MyCorporation, formerly a division in Intuit. She took the company private in 2009 and after 10 years of entrepreneurship sold the company to Deluxe Corporation. Deborah is also well-recognized for her written work online as a contributing writer with some of the top business and entrepreneurial blogging sites including Forbes, Business Insider, SCORE, and Fox Business, among others. Fun facts/Other pursuits: Originally from Southern California, Deborah enjoys spending time with her husband and two sons, Benjamin and Christopher, and practicing Pilates. Deborah believes in the importance of family and credits the entrepreneurial business model for giving her the flexibility to enjoy both a career and motherhood. Deborah, and MyCorporation, have previously been honored by the San Fernando Valley Business Journal’s List of the Valley’s Largest Women-Owned Businesses in 2012. MyCorporation received the Stevie Award for Best Women-Owned Business in 2011.