Kickstart Your Stationery Store Business with These Tips
Setting up a stationery store is an exciting idea given the fact that we live in a digital world. Amidst all the electronic chaos that we are surrounded with, sending across a stationery item for a special one’s birthday or maybe just a ‘thank you’ note is undoubtedly eternal. All the old souls out there will appreciate this classic approach as it speaks volumes about the effort being made from the sender.
But how do you become the means for people who seek such stationery items?
Read along to unravel tips that you can put to use when it comes to kick-starting a stationery store!
Settle on a niche
Just like any business, before you go ahead and set up your venture, it is best to put in some research and zero in on a target base. Settle in on a niche that you think will work; you could aim to cater to a particular occasion, for instance graduations, weddings or birthdays. Once you’ve finalised the niche, you should then focus on creating and building a brand identity that’s robust right off the bat. It helps if you start small and concentrate on a particular location. As the demand hitches up, you can then think about expanding your business by launching and supplying new products and ideas.
Pen down a business plan
Several stationery start-ups are very likely to start right out of living rooms that is unless you end up buying a franchise and set up the premises from the very beginning. Irrespective of where the business is starting from, ensure that you write down a detailed business plan no matter what as it will give your venture a direction, a path to follow through.
This business plan should list what the vision and mission of your stationery business is, the competitors that you have and the extent of demand that you’re likely to have.
This plan should have a breakdown of the average costs of production and also the visualisation that you have for the growth of your venture. Don’t be too intimidated to figure out how to keep up if the demand for your product grows beyond your expectations. Several templates are available that you can use to prepare yourself a kickass vision in order to make your stationery business larger than life.
Open a business bank account
Right from the word go, maintain different personal and business accounts. Look around for a good bank that will have some really good offers up its sleeve with a couple of extras like availability of business overdraft, a business mentor support or at least a decent business credit card. This could even include discussion regarding business insurance to prepare for any unforeseen occurrence.
Get yourself enlisted for tax and business permits
Ensure that you most definitely get yourself registered with the tax authorities. Get an understanding of the local and state charges that you will be applicable for and while you’re at it, see if you require any other permits for trading purposes. This will ensure a smooth flow of the business functions minus any hiccups.
Get yourself a mentor
If you wish to skirt around all the mistakes that several other stationery business start-ups made, get yourself a mentor who owns a booming business in the stationery niche. Of course, not everything will be applicable to your business but at least it will keep you from making the same mistakes that will hinder your progress. It might take a considerable amount of time to find yourself a great mentor, but it is worth every bit of the effort.
Make an impressive portfolio
Stationery business is all about the visualising.The target audience will react well to being able to see and get a feel of the style and excellence of your work. Spend a bit on this aspect and put a variety of items on display which will not only demonstrate your proficiency as a designer but also your ability to address, handle and accommodate different customer requests.
While you are at it, ensure that you invest towards marketing and promoting your business as well. You can resort to distributing a sample of your products by way of promotional pens, pencils, post its and various other items.
Now that you have enough to go with, you might as well dive in and get started in setting up a stationery store that’s both impressive and appealing!