How to Open an Herb Store

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Opening a store that specializes in herbs takes a lot of work, patience and, to be successful, an effective marketing strategy and high quality product. It is rare that a new business sees profit within the first few years, often longer, so it is crucial that you are opening an herb store because you love herbs and want to share your passion with the public.

Pick a location for the store. You may choose to open a store with a physical location or you may opt for an online store, depending on your needs and budget. If you wish to operate out of your home, you should check with the city to make sure that it is legal to do so; some neighborhoods are restricted from operating home-based businesses.

Obtain the required operating licenses or permits. Rules and regulations vary by state, county and the size of your business. You will need to apply for a name for your business. After the name is approved you will be assigned an employer identification number (EIN). To find out specific information for your area, pay a visit to the courthouse to see the city clerk. You may also wish to hire a business lawyer to help you through the legalities of setting up your own business.

Decide the scope of your business. Will you hire employees right away or wait to see if additional staff is necessary? Unless you are an expert, it is easiest to hire a professional to take care of your taxes.

Obtain high-quality herbs. You could grow the herbs yourself so you know exactly what you have in stock, how long it will be before a specific herb will be available and you can adapt your growing practices to meet your customers needs.

Market your product. Create a website (or hire someone to do this for you), even if you have a physical location. Talk about your store; word of mouth is one of the best marketing strategies. Advertise in the local newspapers, herbal magazines and, if you have capital, try billboards and radio ads. You will only sell product if people know it is available.

Tips

  • Offer a wide variety of herbs. You will want to keep all common herbs in stock as well as specialty herbs, dried herbs, tinctures and teas. Respond to customer demand to make the most profit.

    Offer the customers herbs that are rare and hard to find, but in demand. This will make you irreplaceable in the herb world and give you more business.

Warnings

  • Operating a business without the proper permits or licenses is highly illegal and if you are caught, it will result in legal action.