How to Open an Appliance Store. Opening an appliance store is one way of obtaining both financial and personal freedom. Make money for yourself rather than others and take pride in building a thriving business of your own. Acquire your own personal freedom while no longer answering to someone else when you become the boss and run the your appliance store the way that you see fit.
Choose a name that is catchy and memorable. When shopping for appliances, the name should immediately come to potential consumers' minds.
Purchase your appliances from a wholesale company to ensure that you get the best prices available. Buy in bulk for even more savings.
Pick the best location for an appliance store. An area surrounded by other thriving businesses helps to bring in customers that don't wish to travel out of their way to find what they need.
Seek outside investors and small business loans to help you get started. Using your own money is risky, so it is best to look for financial help when getting started.
Find out any required licenses and check the zoning laws pertaining to the location you choose. Laws vary from location to location, so be sure to do some research before committing to anything.
Hire the number of employees that it will take to get your store up and running. Keep the number limited to just enough to get started, then hire more as needed.
Turn your opening day event into a celebration. Balloons, streamers and banners are a good way to bring attention to the store when it first opens and lends a festive mood to the event.
A professional, well-thought business plan will help to secure investors as well as aid in the success of the appliance store later. Purchase merchandise only from real wholesale distributors which require a tax ID number in order to do business.
Don't enter into any agreements, such as leases or employee contracts, until after you finalize all the important details. Financial backing and the appropriate licenses come first.