Retail Business Ideas
Do you want to sell finished products directly to consumers? Retail could be the opportunity for you. You could open anything from a clothing shop to a gaming parlour. Here are 10 retail business ideas that will immerse you into the retail industry:
121. Coffee Shop and Bar
A coffee shop and bar would be a coffee shop until 4pm and after that you would also serve beer and wine. This will increase your customer base as you’ll appeal to both the coffee shop crowd and when that begins to taper off, you’re appealing to the night-time crowd.
How to start this business idea
You’ll need a reasonable amount of capital to start this retail business idea. Find a location that suits both a mid-day and post-work crowd. Then opt for a genuine and modest design concept to appeal to the majority of customers.
How to keep this business idea successful
You’ll need to keep reinventing your menu and serve excellent food and drinks every time.
122. Mystery shopping
A mystery shopper is employed by retailers to judge the performance of the store anonymously.
How to start this business idea
Up until now many retailers rely on freelancers without too much experience assessing their stores and displays. You could start an agency that could train people to know what to look for so that retails would get the best feedback for their service.
How to keep this business idea successful
You can branch out to brands and report back to tell them how their products are being displayed within various stores.
123. Sports Bar
A sports bar is aimed at sports fans who want to watch the game together while being able to order food and drinks.
How to start this business idea
Find a location that has cross overs with many different types of sports. Start hosting viewings of the games at your bar with specials and if marketed correctly the customers are sure to follow.
How to keep this business idea successful
Ensure you offer events for all sorts of sports to keep different sports fans coming in every week. It might pay to have more than one screen in case matches overlap.
124. Flower Shop
Flowers are the go-to gift for most special occasions, why not be the one to supply them in your area?
How to start this business idea
Other than finding a retail space, one of the major expenses for a flower shop is a cooler to keep your products fresh and cool. Other than that, a flower shop is said to be a low-cost retail option.
How to keep this business idea successful
Keep in mind you’ll be competing against online delivery platforms, so you’ll either need to partner with them or offer something they can’t.
125. Flipping Furniture
If you enjoy repairing, repainting and reimagining a piece of furniture, this might be the retail business idea for you.
How to start this business idea
You’ll need to find low-cost second-hand furniture, repair it, repaint it and sell it. You’ll need somewhere to advertise your revamped furniture, whether it’s a bricks-and-mortar store or an online store.
How to keep this business idea successful
Only sell high quality pieces of furniture that are made from real wood and not chipboard. Aim for unique pieces, this will help you to build trust and gain repeat business.
126. Bookstore
If you love books and have a growing knowledge of different authors and genres, then maybe opening a bookstore is for you.
How to start this business idea
You’ll need a website, where customers can potentially purchase books from you. To remain successful, you’ll need to create a community around your store by offering extra services such as live readings, writing classes and perhaps a second-hand section for people looking to buy or sell second-hand books.
How to keep this business idea successful
You’ll need to reinvent your bookstore idea by adding in a café, other products or hosting events.
127. Gaming Parlour
You can offer premises where people of all ages can pay to enjoy various types of gaming.
How to start this business idea
Once you’ve found a location you should invest in several consoles and numerous games. You can start out by buying second hand equipment and games, until your business is making enough money that you can invest in newer merchandise.
How to keep this business idea successful
Offer events and gaming tournaments to create a community around your business and raise awareness of your business to those within the gaming community.
128. Health Food Store
Being healthy and maintaining health is a continuing trend around the world, making a health food store an ideal retail business idea.
How to start this business idea
Starting a health food store will have the same requirements as any other retail start-up, but you will also need to find organic suppliers. Your suppliers and prices will most likely differentiate you from your competitors, so consider carefully what brands you’ll stock.
How to keep this business idea successful
Ensure you target the right customer and continue to market your business even after you have a solid customer base. You’ll also need to differentiate yourself from other health shops near you.
129. Bed and Breakfast
You can create lodgings with a twist and start your own bed and breakfast business. Come up with a fun theme or decorations to give your bed and breakfast a new twist.
How to start this business idea
You’ll need to purchase either an additional property or expand onto your home to create more rooms where guests can stay. You’ll also need to invest in new finishing’s for each of the rooms. Once you have everything set up, advertise to get your first guest.
How to keep this business idea successful
Generate off-season traffic, by coming up with events or experiences for your guests to do that don’t have anything to do with the season.
130. Subscription Boxes
Subscription boxes are growing in popularity, whether it’s food, books or beauty products. You can start a subscription box service today.
How to start this business idea
First, you’ll need to come-up with an original concept for the South African market. You could look at what global markets are doing and see if something similar would work locally. Once you’ve decided, you’ll need to compile the boxes and start marketing them to get people to subscribe.
How to keep this business idea successful
Continue to innovate with your concept and offer various subscription options. Take customer feedback into account and try to incorporate it into your business.