Starting a Business Articles
Opening a Table Retailer
Here's some helpful information that is ideal for those of you who want to open a table retailer. This is a must-read before you begin your venture.
Wondering how to start a table retailer? We take you step-by-step from start to success.
Characteristics of a Good Table Retailer Business Plan
Your table retailer's business plan should be tailored to your business's unique traits and goals. However, the most effective business plans do address specific sound business plan elements:
- Mission Statement � A concise declaration of values, strategy and identity.
- Goals & Objectives � A list of mile markers on your table retailer's road to success.
- Financial, Marketing & Action Plans � Each of these plans covers a specific aspect of your table retailer's strategy and direction.
Check Out the Competition
Prior to launching a table retailer within your community, it's worthwhile to find out how strong the competition is. We've provided the link below to help you find competitors near you. After following the link, enter your city, state and zip code to get a list of table retailers in your area.
Is the local market large enough to support another table retailer? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
Once you've finished assessing the competion, you really ought to learn from folks who are already in business. It's very unlikely that the local competition will talk to you. It'd be crazy for them to teach you the business.
But, a person who owns a table retailer in a location that is not competitive to you can be a great learning resource for you, given that you don't compete with them in their area. In fact, they are often very willing to share startup advice with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
So, what can you do to find a table retailer owner in another city who you can speak with?
It's not that hard. Just use the handy link below and enter in a random city/state or zipcode.
Three Arguments for Buying a Table Retailer
At Gaebler, we think it makes a lot of sense to explore a table retailer purchase before committing to a startup.
You'll want to conduct a comprehensive due diligence process, but here are three arguments why you should think about buying instead of a startup.
- Initial Revenue. Startups struggle to bring in revenue right out of the gate while existing businesses usually have a steady stream of income.
- Operational Efficiency. Existing businesses are established operations, with the necessary processes, people and other resources already in place.
- Funding. Lenders, investors and other funding sources almost always prefer business purchases to startups.
Don't Forget About Franchising As an Option
Your chances for doing well with your venture are greatly increased if you buy a franchise instead of doing it all on your own.
If you planning on starting a table retailer, you may want to assess whether purchasing a franchise might help you avoid common entrepreneurial mistakes.
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.
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