Brick and mortar businesses are still very popular in today’s world. They are still one of the best ways to start a business because they are easy to get started with and they don’t require any special skills. You can open up a small store in your home, or you can open up a larger store in a mall or shopping center.
You can even open up a restaurant if you want to. There are many types of brick and mortar businesses out there, but most of them fall into two categories: retail stores and restaurants. Retail stores include clothing stores, shoe stores, bookstores, toy stores, etc. Restaurants include fast-food places like McDonalds, pizza places, coffee shops, etc.
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There are many ways to go about starting a brick and mortar business. Some people choose to open up a store in their house, while others choose to open up a bigger store in a mall or a shopping center. Others choose to open up a restaurant instead of a store.
What do I need to know before opening my own brick-and-mortar shop?
Before you actually open up your own brick-and-mortar shop, make sure that you’re ready financially. If you aren’t able to afford to pay rent every month, then this will not work out well for you. Make sure that you’ve saved enough money so that you won’t have to take loans.
Make sure that you also have some type of insurance coverage. This way, if anything happens to your inventory, then it will be covered by insurance. It’s always better to be safe than sorry! Also, make sure that you have a good location. A lot of times, when someone opens up a new brick-and-mortar business, they end up having trouble finding customers. So, try to find a place where lots of people live nearby. Also, look for a place near schools, parks, malls, grocery stores, etc. These things help draw in potential customers.
How much does it cost to open a brick-and-mortar boutique?
The average price for opening a brick-and-mortar shop is $10,000-$15,000 depending on how big the space will be. The more expensive an item that you sell, the higher the profit margin will be. For example, selling designer clothes would have a high profit margin compared to selling toys at Walmart.
If you plan to open up a smaller store, then you may only need to spend around $5,000-$7,500 to set everything up. However, if you decide to open up a large store, then you’ll probably need to invest between $20,000-$30,000 just to buy all the equipment needed to run the store.
Here are some of the best brick and mortar business ideas:
Some of the considerable ideas are mentioned below;
Clothing Boutique
Clothes are something everyone needs, especially women. Women love buying nice dresses, skirts, tops, shoes, purses, jewelry, etc. Because these items are necessities, you should charge relatively low prices for each piece of clothing. Plus, since you’ll be dealing with women who tend to spend a little bit extra on fashion accessories, you could potentially earn a few hundred dollars per week without doing too much hard work.
Bookstore
Books are another necessity that almost everyone has read at one point or another. You might think that books don’t generate as much income as other products such as electronics or furniture, but that couldn’t be further from the truth. In fact, according to statistics provided by the National Association of College Stores, college students spent over $3 billion last year alone on textbooks. That means that textbook sales account for approximately 2% of total bookstore revenue. And while most bookstores offer both print and eBooks, there still tends to be a demand for physical copies of books because many people prefer reading them rather than using electronic devices to view content.
Furniture Store
There are plenty of different ways to start a furniture store. But regardless of what kind of furniture you choose to carry, chances are that people will want to purchase pieces made by local artists. As long as you can create unique designs, you shouldn`t worry.
Electronics Store
If you’re looking into starting an electronics store, then you might be wondering which product lines to focus on first. Well, this really depends on whether you know anything about technology already. Do you like playing video games? Then maybe computer hardware is right for you. Are you interested in photography? Maybe cameras are your thing.
Jewelry Store
Many people always wanted to own their very own jewelry store, so now it’s your chance! Just make sure you do adequate research before jumping headfirst into setting up a jewelry store. First off, learn all the techniques involved in making necklaces, bracelets, rings, earrings, etc. Secondly, find out where wholesale suppliers are located so you can get lower prices when purchasing gold, silver, diamonds, pearls, gemstones, etc. Thirdly, figure out how much money you’d have to put down as well as monthly payments before opening up shop.
Pet Supply Store
This may seem like a no brainer, but owning a pet supply store does require some serious investment capital. However, once you buy the necessary equipment, you could potentially earn enough profit to justify buying expensive items such as dog food, cat litter, toys, leashes, collars, cages, beds, blankets, etc.
Sporting Goods Store
Sports gear is something that every person needs. Whether we realize it or not, sports teams often rely on sponsorships with companies who sell sporting goods. For example, Nike makes shoes and clothing for athletes; Adidas makes clothes for soccer players; Under Armor makes shirts for baseball fans. So if you decide to open up a sporting goods store, you could definitely expect high profits.
Stationery/Office Supplies Store
Staying organized doesn’t come naturally to everybody. Which is why office supplies such as paper, pens, staplers, folders, labels, pencils, rulers, dry erase markers, sticky notes, etc., are essential tools for most businesses. And since these products don’t break easily, there’s little risk of losing sales due to damaged merchandise.
Toy Store
Toys aren’t just for kids anymore. In fact, adults love them too. That means that toy retailers can enjoy healthy profits each year. All you need to do is invest in new toys, collect old ones, and keep track of trends.
Video Game Store
The gaming industry has grown tremendously over recent years thanks to titles such as “Grand Theft Auto” and “Madden NFL.” As more video games become available on mobile devices, consoles, computers, tablets, and smart TVs, this market will only continue growing. If you want to cash in on this trend, consider starting an online game store.
Gift & Home Decorating Center
When was the last time you bought someone a gift? Did you go shopping somewhere special? Maybe you went out to eat at a nice restaurant before going home to wrap presents under the tree. Either way, you should feel proud about yourself whenever you think back to doing one of these things. Why wouldn’t you want other people to experience similar feelings?
Coffee Shops
Who says coffee shops have to taste bad? With so much competition in today’s society, it’s important to stand out from the crowd. One great idea would be to serve fresh-brewed coffee beans right inside your shop. People will appreciate knowing where their morning cup of joe comes from.
Vape Shop
Electronic cigarettes haven’t been around forever. But they’ve gained popularity because many smokers believe they help them quit smoking tobacco. Some vapors even claim that vaping helps reduce cravings for nicotine. Regardless of whether those claims prove true or false, vape stores are still making money off of consumers’ interest in electronic cigarettes.
Thrift Shop
Do you remember thrifting during your childhood? I’m sure you loved finding interesting items at garage sales, estate sales, flea markets, and tag sales. Nowadays, thrifting isn’t limited to weekends alone. Many thrift stores offer cheap deals throughout the week. This allows shoppers to find unique finds without breaking the bank.
Car Wash
A car wash used to be something reserved for local residents who wanted to get clean cars but didn’t have access to a full service auto detailing center. Today, however, car washing services are becoming increasingly popular among small businesses. Not only does a car wash save drivers valuable time, but it also saves them money through reduced gas usage.
Ice Cream Shop
Have you ever tried ice cream sandwiches? They may not sound very exciting, but if you try eating one, you’ll realize why everyone loves them! Most ice cream sandwich recipes call for vanilla wafers, chocolate chips, and ice cream. However, there are tons of different flavors to choose from. For example, some places sell strawberry shortcake flavored ice creams while others make delicious cookies n’ cream treats.
Barber Shop
If you love getting pampered on a regular basis, then starting an upholstery barber shop is probably perfect for you. The owner can use his skills to cut hair as well as trim eyebrows, sideburns, mustaches, and beards. He could also do manicures, pedicures, waxing, facials, massages, etc.
Beauty Salon
Starting a beauty salon has become more common than ever before. In fact, according to Entrepreneur Magazine, “The average age of U.S. entrepreneurs increased by five years between 2000 and 2010.” As such, this industry continues to grow rapidly. It seems like every day we hear new stories about how successful salons were able to turn into billion dollar companies.
Flower Shop
Flowers aren’t just pretty; they’re useful too and did you know that people spend over $30 million dollars per year buying floral arrangements? That means flower shops are doing really good financially. So what kind of startup costs should you expect? According to Business2Community, most florists start with a capital investment ranging anywhere from $10-$25 thousand.
Bed And Breakfast
There are so many reasons why B&Bs are great options for travelers looking for affordable accommodations. First, these types of hotels usually cost less than other lodging choices. Second, guests tend to feel much more comfortable staying in homes since home-cooked meals are often included. Third, owners of bed & breakfasts typically live on site which makes for personal connections. Fourth, B&Bs allow their hosts to interact with lots of tourists each month.
Massage Therapist
Did you know that massage therapy was the second largest health care profession back in 2007? This means that there’s still plenty of room for growth within this field. Startups like “Therapeutic Touch” provide mobile therapeutic massages where patients pay out of pocket to receive deep tissue or Swedish massages based at their own location.
Butcher Shop
Butchers have been around for centuries due to their ability to preserve meat longer and butcher large animals quickly. Nowadays, though, butchers are making a comeback because customers want healthier meats. Plus, butchers are known for being experts at cutting up whole carcasses into smaller pieces.
Fruit And Vegetables Store
Selling fruits and vegetables doesn’t seem complicated enough already. But it turns out that there’s actually a lot of competition in the market. Some startups even specialize in selling only certain kinds of produce. Others focus on growing their own fruit trees. Still others offer delivery services.
Cosmetic Store Business
Many cosmetic stores sell makeup products. However, some cosmetics stores go one step further by offering skin treatments. These include everything from Botox injections to laser eye surgery.
Pharmacy
If your goal is to open a pharmacy store then you’ll probably be happy to learn that pharmacies make tons of money. The National Association of Boards of Pharmacies reports that pharmacists earn an annual salary of approximately $66K. Not bad!
Pet Grooming Parlor
Pets are part of families now. They help us relax after long days at work. They also bring joy to our lives. Unfortunately, pets require grooming as well. In fact, pet grooming has become a billion dollar industry.
Bicycle Repair
When I first started my blog, I had no idea how popular cycling would eventually get. It seems like every day I see another article about bike repair. People love bikes. Why not capitalize on that passion?
Bakery
Bread be the stuff of life. After all, who could forget those warm slices of bread straight out of the oven? Well, if you’ve ever thought about starting a bakery shop, here’s your chance. As we mentioned before, bakers make millions of dollars annually.
Juice Bar
Juicing has exploded over the past few years thanks to its numerous benefits. So what better way to cash in on this trend than opening a juice bar? You can start small by renting space in someone else’s restaurant or grocery store. Or, you can try going the route of franchising. Either way, you should expect to invest between $10-$20 thousand just to get things off the ground.
Conclusion
Opening a coffee shop, car wash, massage therapy clinic etc. looks very beneficial if a person knows his/her interest. Ideas are many but its utilization in a proper way is productive. Take start with a small brick and mortar store, keep on saving money and expand your franchises which will benefit you later in your life.. Money is a must in this trade otherwise you will not be able to open up a store.
