Parents of young children are turning to products that are free of pesticides and potentially harmful chemicals.
Organic baby retail stores cater to parents who believe their purchases have an impact on the environment their children will inherit. Parents with young children are turning to clothing, toys and foods that are free of pesticides and potentially harmful chemicals. As with any new retail venture, certain steps should be followed to ensure success.
Instructions
Funding
1. Calculate the cost of rent, inventory, utilities, insurance, office supplies, equipment, and advertising. Consider applying for a small business loan through the government's Small Business Administration website to acquire funding if needed.
2. Research the demographics for a potential location. Determine what people in that particular area are likely to buy, and how many shoppers can be expected to enter the store. The population should include environmentally conscious parents with the disposable income needed to pay a little more for quality organic products.
3. Decide what kinds of products to sell. Keep it simple with baby clothes and accessories. Or, add toys, furniture, and bedding. Locate reputable wholesalers from which to purchase inventory. Wholesale sources include trade shows, industry groups, and online business-to-business marketplaces. Contact manufacturers directly for specific products.
4. Visit the IRS website to apply for a tax identification number. This number is used when purchasing products at wholesale prices, and also when paying business taxes (similar to a social security number).
5. Advertise through word-of-mouth. Hold a grand opening and advertise it in local newspapers. Create a mailing list targeting local parents with young children and send them coupons and other special offers. Marketing is critical for success. Regularly track marketing efforts to determine which methods are most profitable.
Tags: young children, young children turning, children turning, free pesticides, free pesticides potentially