Research
the competition. While you might be the only stationery store in the shopping
mall or strip shopping center, you may not be the only store carrying
stationery, cards, pens, pencils and such. Review the types of cards the other
stores carry and offer your customers something a little different along with
the expected "Happy Birthday" and "Congratulations" cards.
Consider carrying wedding invitation catalogs. Find a calligrapher to work on a
freelance basis to address cards. If the other stores don't offer business
stationery and supplies, that could be an option for you.
Obtain licenses and registrations. Call the business
development office for your state and city to find out what's necessary. At the
minimum, a business license and sales tax license will be required. The sales
tax license is sometimes required by vendors so they can give you a wholesale
discount on notes, cards and the rest of the inventory you purchase and not
charge you sales tax on items you intend to resell.
Acquire
start-up funding. At a minimum, the first and last month's rent and security
deposit will be required by the landlord. When you sign a lease, you're
obligating your business to make the lease payments every month for the term of
the lease. If your stationery store closes, you're still liable for the lease.
There also may be additional fees for parking and utilities. The initial
inventory for the store is necessary to open as well. A financial management
system is necessary to track inventory purchases, sales, taxes owed and cut
checks for payments. Also, you need a point of sale terminal and credit card
processing equipment.
Set up
vendors. Stationery stores offer gift items, inspirational books, candles and
potpourri as well as paper and pens. Attend gift trade shows to see the
upcoming trends and to meet with vendors. The exhibitors may be distributors,
wholesales or the manufacturer. In any case, select the vendor based on overall
prices and merchandise, but keep terms and shipping costs in mind. Consider
minimum purchase requirements as part of the overall selection process. Vendors
may have a dollar minimum purchase or a number minimum purchase. If the only
way you can buy that cute teddy bear note paper is to buy 100 boxes, you may
not have the storage space.
Plan a
grand opening celebration. Offer free face painting for the children. Take
their photo and email it to the parents. Use the email list to announce
specials, tips and hints to encourage people to come back to your store. Hand
out free pens with the store's name. Have a drawing for a complete stationery
package -- letterhead, envelopes, blank note cards, thank you cards and such.
Set up a demonstration on paper making. Announce the grand opening through
advertising and by sending out press releases. For more details visit our
website allindiayellowpage.com.