1.Create a Business Plan – Establish goals and objectives, determine start up costs and funding sources.
2.Choose a Location – Consider foot traffic, regulations, competition and zoning requirements when selecting a location.
3.Develop an Inventory – Build an inventory of products that will appeal to your target market.
4.Establish Suppliers – Source suppliers with competitive prices, quality items and reliable lead times.
5.Build a Website – Establish an online presence with a website that is engaging and easy to navigate.
6.Advertise Your Business – Promote your business with a combination of print, radio, television and digital advertising.
7.Secure Licenses & Permits – Obtain the necessary local, state and federal licenses and permits to operate a novelty store.
8.Hire Employees – Recruit qualified staff who will assist you in running the store on a daily basis.
9.Open Your Store – Open on schedule and begin providing customers with a unique shopping experience.
10.Evaluate & Adapt – Review the success of the store, make changes to your inventory or operations as needed to ensure ongoing success.