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Many times we have brilliant ideas, but we do not know how to make them come true. What a problem, right?

Starting a physical business is not easy, but with these steps I assure you that you will see everything with greater clarity and less difficulty.

 

1.  Create a budget

The first thing you should do is a budget. This will allow you to have all financial matters under control and help you to reach your goals.

It lets you know what economic situation you are in now and what the future will look like.

It is about making a strategic plan where you include how much you plan to sell, how much you are going to spend, how much you are going to earn and how you are going to achieve it.

After you have answered those questions, compare the answers with those of the present.

Based on that, detect what could be the problems that are affecting you and look for a solution to meet your future plans.

A budget helps you to limit the expenses, to take the debts to the day and to give responsibilities to all those who work with you.

However, the most important thing is that it helps you designate a part of the money to solve any unforeseen event.

With a budget I assure you that your company will not fail.

 

2.  Look for a well located place

The location of the physical business you plan to create is fundamental.

As I have told you before, the study of your clients is of vital importance . This is the one that will help you determine where to put your store.

The best is to get where the public transport arrives , so you will avoid people who do not have a vehicle of their own.

For those who have, make sure your store has where to park them.

The size also influences. If you have many products, but your store is minimal, customers will not be able to clearly see everything you have.

The place will determine if your customers go or not. Make sure they can see the name of your store.

It is useless to find a hidden place, no matter how economical it is. Clients will not be able to arrive.

 

3. Get financing

Once you have a budget and you know what would be the perfect place for your store. It’s time to get the money.

Getting financing is not easy and I’ve told you before. You must convince your potential investor.

Convince him of what? Well that your business is profitable and will bring profit in a few months. For that you will deliver your business plan.

Banks and government organizations can be the best places to find financing.

If you do not want to pay interest , you must get the money on your own.

For example: selling old items or borrowing money from a relative, close friend or person you know who trusts your skills.

 

4.  Search for suppliers for your product

If in the physical business that you are thinking about, you will start selling products that are not manufactured by you, it will be better to get the best suppliers.

If, on the other hand, the products are going to be made by you , you can skip this step.

The suppliers are in charge of selling you the merchandise , so that you can sell it at a higher price.

To choose a provider you must know what exactly you are looking for.

It may be lower quality for lower price, or more quality for higher price. There are suppliers of all kinds.

Once you know it, look for all the suppliers that you consider appropriate to what you need and get in touch with them.

Finally, make a first purchase to verify your credibility and if the product is really what you expected. If so, you already have your provider!

If it was not, check your options again and try a different provider.

 

5. Register in front of the authorities

While it is true that in each country it is different , I recommend you do it.

To know what exactly you should do, go to the agency in charge of processing these processes in your country.

Once there, explain what you want to do and what you need. For example: health permits, licenses, etc.

If your store is for alcoholic beverages, you probably need a permit to sell it to ensure that you do not do it to minors.

Avoiding problems with justice will mean that you do not have to spend money unnecessarily to pay fines.

Here you have a good article where you will know which licenses are the basic ones to open your business: What documents and procedures do you need to open your business?

 

6.  Advertise your business

Once you have completed all the steps above, it is time to let you know so they can visit your store.

Advertising will also depend on your client and the means he uses to inform himself.

If your customer is more traditional, you could choose to print flyers and deliver them on the streets or put ads on bus stops.

If on the contrary your possible clients are more modern, do the publicity through Internet and social networks.

Depending on how effective your marketing strategy is, you will get more customers and higher profits for your store.

 

7. Hire staff to help you

It is true that your business will always be your priority. But it is also true that you have a life outside of him that you can not neglect completely.

To solve the problem, hire employees in your store.

Do not rush too, it’s no use paying someone who does not really fulfill their obligations.

Take your time to make public that you have an empty position and start interviewing them.

Once you’ve got the candidates, try to train them and prepare them to provide the best customer service you’ve ever seen.

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