I need some information on opening my own store
I am looking to open an Asian grocery store in a town where the nearest Asian grocery store is a 50-minute drive away. I spent 6 years living in Japan and have traveled to South Korea, so I have an idea of what food to sell and what the grocery stores there look like. I have been doing as much research online as I can and it seems I need to get some licenses. I also need to find a distributor or wholesaler who can supply the items that I will sell. This store would start out as one not selling alcohol or refrigerated items. If this business were to work out then I would consider selling alcohol and refrigerated items. I know for selling alcohol I would need to get a different license. I already made a list of items I would like to sell I just don’t know where to find them.
I prefer to research as much as I can and get as much done as possible before I decide if this is a worthwhile venture. However, when I try to contact wholesalers to find out the prices of the items they ask for my business name which I do not have yet. I also need to have my business set up before I can get any licenses. It seems like I need to get my business together before I can view wholesalers websites and obtain any licenses. This means that I may have to pay a whole month’s rent or more before I can even open my store. Is this correct? I would prefer to have these things figured out before I rent out a store. Especially where I can get these items and how much they cost.
Besides checking my finances and finding a place to rent what else can I do to prepare for starting my own retail store?
If you have any other information about me opening up this type of business I am grateful for any information you can supply me with.
Thank you so much for your help and your time,
It depends on the city and state as to licensing, but you will probably need licenses from both to sell alcohol, as well as to open up shop. You will also need a resale certificate from the state in order to purchase inventory without paying sales tax yourself, allowing you to collect and remit sales tax to the taxing jurisdictions in your area.
Most of the time, distributors just want to see that you have licenses together before revealing pricing, but some may wait until you’re established, which is a little silly.
You will need to line up a good insurance company, and invest in solid accounting, inventory, and point of sale software.