There are many people across the UK who open their own shop every year. This can be a risky venture since not every business succeeds but there are plenty that do and it can be a great way to make a living.
If you're thinking of opening your own shop then below are some of the main things to think about in order to ensure your venture is a successful one.
Things to consider
- Type of shop - One of the most important decisions you have to make is the type of shop you're going to open. You likely already have a good idea about this but if not, it's the first thing you need to think about. You can open a general shop such as a newsagent but if you're going to be selling a particular line of products then it's always a good idea to sell things that you're knowledgeable about.
- Location - The location of your shop is extremely important. It's never a good idea to try and save money on rent by choosing a location that's in a remote area since it will negatively affect your business in a big way. Always be sure to find out as much as you can about a location before you commit to it to avoid making a mistake.
- Type of building - Some buildings will be a lot more suitable than others depending on the type of shop you want to open. For example, if it's a boutique shop, then something that's unique and quirky would be ideal. You can get creative with how you decorate it and even add things like like venetian blinds for slide and fold doors.
- Insurance - Insurance is another vital aspect of running your own shop. Shop insurance will protect your business for numerous risks, including structural damage to your building, business interruption, liability claims as well as contents, stock and cash. You can get shop insurance quotes online very easily now so this doesn't need to be too much of a headache. It's always recommended that you get quotes from several different insurance providers in order to save money.
- Staff - Depending on the type of shop you decide to open, there's a good chance you'll need to hire at least one employee to help you run it on a day-to-day basis. Hiring staff can be daunting if you've never done it before so you should educate yourself on the subject of recruitment as much as possible.