Wondering how to start a Native American goods business? We take you step-by-step from start to success.
Authenticity in Native American Goods Retailing
Native American goods enjoy relatively steady demand in the U.S. Although consumers demand for Native American merchandise isn't as strong as it is for iPhones or other wildly popular consumer products, the industry has a strong and committed following, providing startup entrepreneurs with no shortage of retail opportunities.
A large portion of the audience for Native American goods is dedicated to not only the purchase of merchandise, but also to experiences that enable them to participate in the creation of Native American crafts or allow them to have a more meaningful encounter with Native American culture.
From an entrepreneurial perspective, this creates certain challenges, particularly regarding the need for authenticity in the delivery of Native American products. Before you undertake the startup of a Native American goods retailing business, it is absolutely essential to make sure you understand the nuances of Native American history, culture and artwork.
Growing a Native American Goods Startup
Growth is a key business objective for every startup. Although the market for Native American goods may be limited, there are several strategies you can use to expand and grow your company.
- Product Lines. It's important to offer customers a diverse range of product lines and options. The best Native American retailers provide a wide variety of merchandise choices including books, beads, leather goods, clothing, finished goods, art and more. By staying in touch with the marketplace and expanding your product lines to accommodate market demands, you can significantly increase your startup's revenue and market presence.
- Special Events. Retailers of Native American goods sometime sponsor (or co-sponsor) special events that appeal to individuals who are intrigued by Native American culture. Consider contacting local Native American groups to discuss the possibility of participating in existing events or creating new ones that appeal to your target market.
- Instructional Opportunities. In many instances, the buyers of Native American merchandise consumers aren't looking for more products -- they're looking for experiences that feed their passion for all things Native American. By offering classes in beadwork, leather tanning, clothing production and other areas, you can give them those types of experiences -- and generate additional selling opportunities for your expanding customer base.
How to Write an Effective Native American Goods Company Business Plan
It's virtually impossible for your Native American goods business to succeed without an effective business plan.
Accuracy and an eye for detail count when writing a business plan. Fudging the numbers is the equivalent of sabotaging your Native American goods business's strategic interests.
Instead, commit to creating the most precise business plan possible. If you're still not convinced, consider what the experts say about business plan writing.
Don't Overlook Competitors
Well in advance of opening a Native American goods business within your community, it's essential to find out how many competitors you have. Try our link below to generate a list of competitors in your city. After clicking on the link, type in your city, state and zip code to get a list of Native American goods businesses near you.
Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in.
Turning Competitors Into Collaborators
Once you've finished assessing the competion, the next step is to have a conversation with someone who is in the business. If you think owners of nearby Native American goods businesses will give you advice, think again. It'd be crazy for them to teach you the business.
However, a fellow entrepreneur who has started a Native American goods business outside of your community will be much more likely to talk with you, as long as they don't view you as a competitive threat. Many business owners are happy to give advice to new entrepreneurs In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
How do you find a Native American goods business founder that lives outside of your area?
Here's one way to do it. Just use our link below, find somebody and call them.
Tips for Buying a Native American Goods Business
Many startup Native American goods business owners ultimately set aside their startup plans and instead, purchase a Native American goods business in the business-for-sale marketplace.
An acquisition isn't necessarily a bed of roses. You'll need to thoroughly evaluate the factors involved with buying a business. Right away, you'll want to make sure the business is capable of meeting your ownership expectations.
If the business is right for you, the assistance of a business broker will help all of the rest of the pieces of the process fall in place and you will be well on your way to owning a proven Native American goods business.
Your chances for being a successful business owner are higher if you go the franchising route and leverage their successful brand and track record.
As part of your process in starting a Native American goods business, you should check out whether buying a franchise could alleviate your startup process.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing Native American goods business, these resources will come in handy:
If you came here to learn about selling to Native American goods businesses, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.