Running a retail business can be a dependable way to make a living.
Most retail businesses purchase goods and merchandise at wholesale prices and sell them at higher retail prices. Some retail businesses even sell goods that they have manufactured themselves. Success in retail depends on having high-quality merchandise and developing the store's reputation as a trustworthy and friendly place to shop.
Convenience Store
Many people make their living by running convenience stores. This type of store sells incidental items, such as newspapers, groceries, cigarettes, drinks and automotive supplies. Convenience stores cater to customers who make unplanned and impulse purchases. These stores derive much of their success from their locations. A convenience store located at a busy intersection in a city center is almost guaranteed success simply by the number of people who pass through. Because of the convenience factor, the prices in this kind of store tend to be slightly higher for groceries and other basic products than they would be in a large supermarket.
Wine Store
If you are a wine enthusiast who is interested in extending your hobby into something more extensive and profitable, open a wine store and spend all day with bottles filled with your great love. Wine lovers are known for becoming compulsive about their avocation, so a good wine store with an owner who knows what he is doing is likely to build up a loyal clientele. A successful wine store combines quality with realism by offering a wide range of vintages, from inexpensive and practical wines for everyday dinners to rare and expensive wines for collectors and special events.
"Green" Store
A store that sells sustainable products, low-consumption electronics and environmentally friendly merchandise will cater to a large population of consumers who are concerned about their impact on the planet. A "green" store can combine good business practices with an educational component, teaching customers about environmental responsibility while earning revenue. A retail "green" store can be combined with other "green" services, such as solar and alternative-energy installations and home energy inspections. There is a large market for products and services of this nature, but many people aren't sure where to start. A retail storefront can be a familiar and nonthreatening place for people to begin their journey towards sustainability.
Used-clothing Store
Clothing is a perennial favorite among shoppers, and a necessity for everyone. However, not everyone can afford top-of-the-line designer brands. A used-clothing store caters to another segment of the clothing market -- people who are interesting in finding quality, practical clothing at a low price. Used-clothing stores can specialize in everything from heavy-duty work clothes to retro fashion. Successful used-clothing store owners overcome the stigma that used clothes had among some people by being very selective about what they put on their racks and by making sure everything in the store, both the premises and the merchandise, is spotless.
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