Q:

How do you start a thrift store?

A:

Quick Answer

To start a thrift store business, develop a business plan, raise capital, get registered and market the venture. Planning extensively before initiating any business activity is key to achieving success, notes the United States Small Business Administration.

Continue Reading
How do you start a thrift store?
Credit: jennifer m. ramos Moment Getty Images

Full Answer

With enough market research and careful execution of the business plan, opening a thrift store can be fun and profitable, notes Made Man. Below are some steps to take when opening such a venture.

  1. Write a business plan
  2. A business plan acts as the road map to the thrift store venture. The plan will be key in decision making and meeting of deadlines. A good business plan also cushions the business from possible risks that may otherwise not have been anticipated.

  3. Raise capital
  4. Capital can be raised through various techniques including loans, grants and personal income. Present the idea to possible investors or partners for funding if the techniques mentioned do not work.

  5. Register the venture
  6. All businesses in the United States must be legally registered. It is prudent to find out the requirements for registration in the particular state and present them for approval and licensing.

  7. Market and launch
  8. Once the registration process is through, start marketing the venture even before the official start date.

Learn more about Managing a Business
Sources:

Related Questions

Explore