What are Some Storefront Business Ideas?

Retail businesses are the most common enterprises in India. People often opt for a storefront business idea because they are high in demand and have various options to choose from. You can start a grocery store, stationery and bookstore, gift shops, cosmetic stores, IT stores, thrift stores, clothing boutiques, hardware stores, ice cream shops, organic food stores, garments stores, and travel organisers, flower shops, etc. There are so many retail shops that you can start in India. You can find hundreds of retail shops in a single street. This business has a wider scope as compared to other businesses.

Many young people opt for storefront business ideas as it is a unique business idea to start. They are highly profitable and in demand. You can start a small shop and then expand it in multiple chains for the growth of your business. In this article, we will talk about several best small business ideas that you can start with low investment but can earn a large number of profits.

New storefront business ideas:

There are various types of retail stores that you can start in your area. Some of the latest business ideas are as follows:

1. Grocery stores

Grocery stores are the most common storefront business ideas to start. It is also considered profitable as many people go to grocery stores on a daily basis. You can start a grocery shop in your area with a small investment. However, it requires hard work and passion to start this business because it can be overwhelming. You have to be a good conversationalist for this business to persuade people into buying things from your shop. It is one of the best businesses to start in 2021.

2. Gift shops

The next business idea is starting a gift shop. The demands of gifts never decrease. People celebrate every occasion, be it birthdays, wedding functions, or parties. You can also customise the gift to give an extra personal touch to the gift. It will increase the profits of your business. It is a unique business idea. You do not require a large investment. You can start a small gift shop and later can expand as your profits grow.

3. Mobile stores

Starting a mobile store is a no-brainer. Everybody uses mobile phones. So, starting a mobile business is a good opportunity to increase your income. The investment is moderate as compared to other small business ideas. If you have the technical knowledge and have a passion for the business, you can make it successful. Sell quality products and market your brand. Marketing plays an important role in every business. You can also advertise using social media platforms.

4. Sports store

If you have a knack for games and sports, then you can consider starting a sports store. Kids, children, and professional sportsmen need sports equipment and accessories. So, you can open a sports shop. It requires a moderate business investment. Also, market research will help you to select the best products and items that sell in the market. Later you can add limited editions into the collection for good profit margins.

5. Medical store

Medical stores can be highly beneficial for your area. Medicines are the basic requirements of society. Starting a medical store can be profitable for your town or city. The location plays an essential part in your growth of the business. If your medical store is located near a hospital or in the same area, then it will be more profitable as compared to medical stores located away from hospitals. Before starting a medical store, do proper research and start it accordingly.

6. Flower shop

The next business idea is starting a flower shop. The demand for florists has increased manifold over the last few years. It is the trendiest business idea. The investment required for this business is less as compared to other business ideas. It also doesn't require specific skills or knowledge. If you have creativity, and dedication, then starting a flower shop will be a good idea. You can also start a home service to deliver the flowers for more income.

7. Food store

Starting a food store is the most common business idea. It is a profitable business to start as it will attract many busy customers to your place. You can add various types of food items to your day-to-day menu. You can also experiment with it by adding new recipes and changing them now and then to provide your customers with a diversified change of healthy food. Decide your niche and start it accordingly.

8. Kids’ store

The market has so many kids’ shops. So, starting a kids’ shop will not be easy due to high market competition. However, if you select a niche, like clothes, toys, toiletries, etc., your business can be successful and profitable. Having a niche helps you target the right audience and customers. It adds to more profits and success of the business.

9. Stationery and bookstores

The demand for stationery and bookstores has never decreased because students and children use stationery products on a daily basis in schools and colleges. So, opening a stationery shop can be highly profitable. You can start a shop near schools and colleges as it will increase your customers and contribute to your profits. It is a good storefront business idea if you are looking to start a retail store.

10. Cosmetic store

Last but not least is cosmetic stores. Beauty products have been in demand for so long, and starting a cosmetic store is easy. You can select what kinds of brands people use often and can stock up on those brands. You can also add some limited edition makeup items to earn more profits. However, the quality of the products needs to be good. Low-quality products can tear your goodwill in the market. You can promote your business using social media or by hiring a marketing company.

Conclusion

We can say that starting a storefront business is not easy. It requires determination, passion, creativity, and hard work. If you are looking to start a retail store, you can choose from the above-mentioned new business ideas. All the business ideas are highly profitable if done right. The investment in storefront businesses is moderate to high. So, make a proper business plan, research the market and start your retail shop.

Also read:

1) Online Business Ideas You Can Start Quickly
2) What online business can I do to make money? Here are the top-6 ideas for you.
3) Where Do the Best Business Ideas Come From?
4) Best Home Business Ideas in 2020
5) OkCredit: All you need to know about OkCredit & how it works.

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FAQs

Q. How can I start a retail store?

Ans. Starting a retail store require several steps, and these steps are as follows:

• Make a business plan
• Choose the location and name of the business
• Get legal permits and authorisations
• Create a personalised experience
• Build vendor relationships
• Research your competitors
• Advertise and promotion
• Start your business with a grand opening

Q. Can I start a storefront business with zero investment?

Ans. Every business requires investments and money upfront. However, instead of taking loans, you can save your income for a retail shop. You can ask for money from friends and family for extra funds. Other than that, you can look for small business grants and local funding opportunities from either private or public companies. Once you collect enough money for your business, you can start it.

Q. What are the cheapest businesses to start?

Ans. There are so many businesses that you can start with low investment. It includes a lawn care business, landscaping business, homemade bakery items business, catering services, cleaning services, gardening business, food shops, kids store, babysitting, etc. You can start all these businesses with a small amount of investment.