Profitable Retail Business Ideas – Opportunities in the Retail Sector
Are you interested in starting a retail business and are looking for retail business ideas to start-up? By now, you should know that there are so many small retail business ideas out there that relate to you that you can actually choose from and start making profits.
In this post, I have put in effort to narrow down a number of good retail business opportunities that you can actually start regardless of where you reside.
• Mobile Phones and Accessories Shop
Every year new phones are produced and introduced into the market and people definitely cannot do without their phones and gadgets. You can start a mobile phone shop, and start selling phones and phone accessories to customers. Although, the start-up capital may not be so small, it is nonetheless a very profitable retail business venture.
Of course restaurant business is retailing in the true sense of the word because you are actually retailing food and drinks directly to consumers. Do you know how to cook? Then, restaurant and catering business will be a great retail business idea for small towns and big cities, especially if you know how to cook and serve really tasty foods.
If you live in a big urban settlement, you will realize that organic foods are hard to find. Most likely, what you will get are allergen-ridden foods. Most people today have started following the trend of seeking allergen-free foods.
People have started becoming much more concerned about their health, and have started making efforts in eating healthier. Starting an organic food business is surely the way to go.
• Cosmetics and Beauty Products Store
The make-up industry is growing by the day. Everyone wants to look really beautiful. The ladies want to be awesomely transformed into goddesses. Even the men are no longer left out they want to be transformed into gods.
Today, beauty products are no longer for the women alone; the men have joined the quest. If you are thinking of starting a very profitable business as a woman, then this is a very good retail business opportunity no matter where you live.
You should consider selling cosmetics and beauty products – creams, lotions, make-up kits, and their likes.
• Gift Shop
A gift shop is a place where customers can come and get items that are good enough to be presented as gifts. You could start a gift shop business today and start retailing various items to your customers.
If you are interested in starting a gift shop, you must bear in mind that you must have a variety of products stocked in your shop. Some of these gift products include but are not limited to handmade products.
If you live in areas where people drink lots of teas and coffees; like in most countries in Europe, America and Asia, then you should start a retail shop that sells tea and coffee. This is a very cool retail business idea and you could even decide to consider doing mobile retail tea and coffee retailing.
• Kids Store
Everywhere you go there are little children, and they love toys. In fact, kids love their toys! There is hardly any house you go to that you will likely not find kids. You could start a kids store and start selling anything that kids may be interested in; kids’ toys are a great product to start with.
GUIDE: Bricks 4 Kidz Toys Franchise
• Baby Products
Retailing of babies products is a very good business idea. Consider the number of pregnant women all around, and the number of children given birth to each day. You should know that when starting this business, you must choose a very good place to locate your store.
• Soft Drinks and Beer Store
You can become a retailer of soft drinks and beer. There are a number of soft drinks brands all over the world and there is a very large market for this cool retail business, considering the number of people that consume soft drinks and beer every day.
To start, you must choose a good location that targets the right customers. Places with large gatherings like schools, religious places, etc are a good place to attract the right customers.
• Pharmacy Store
Before you can start a pharmacy store, you must have license and permits for you to be able to start retailing drugs and other medical supplies to consumers. This is because this business is strictly regulated.
Retailing of clothes is another unique retail business idea that you can consider. All you require is having a very good sum of money to open a store and start the retailing business. You must do well to get a very good location that positions you where you can attract the right customers.
Also, you must stock your boutique with various types of clothing – men’s clothing or women’s clothing or a combination of both.
Bookshop is another lucrative retail shop business idea. Yes! people still read hard copy books. Today, the internet had made it so easy for people to get access to books. More people now read soft copy books as opposed to the old-fashioned reading of hard copy books.
However, reports show that lots of people still enjoy reading hard copy books than soft copy books. If you decide to start this business, you should as well include an online book store.
This is another retail business that is thriving and it is a very profitable business if you know your way. This business does not demand too much capital to start. Regardless of the place you reside, people all over the world consume frozen foods such as fish, turkey, chickens, etc.
Moreover, you should know that the location you choose for this business will have a major bearing in the business’ success. A very good location is one that is very close to market places.
Retailing of electronics like televisions, radios, etc and other electrical and lighting fittings is another great business idea. You should make sure to get quality electronics for your store. Also, you should make sure to focus on retailing reputable electronic brands like LG, Samsung, Panasonic, Toshiba, etc to your customers, since these brands are renowned for quality products.
• Pet Shop
Opening a pet shop is also another great retail business idea if you live in an area where lots of people own pets. Pet owners patronize pet shops to get foods and other supplies for their pets. You could find things like pet foods, pet soaps and creams, etc in a pet shop.
MORE BUSINESS IDEAS IN THE RETAIL SECTOR – IDEAS EXPANDED
Do you want to start a business that require a low capital to start and is very easy to manage? If yes, then you should consider starting a business in the retail industry. The retail industry is all about selling retail goods.
By selling retail good, I mean selling goods directly to the final consumers. The retail industry is very versatile as there are varieties and diverse goods you can decide to sell. Here are some of the business ideas in the retail industry that you can consider.
Grocery Retail Store
A grocery store where people know they can get most of the basic things they need at home at a spot always enjoy high patronage. If you are interested in this business, look for a location that is busy and find out what people in their area often demand for especially the ones that are not available in other grocery shops, then stock up your shop with different varieties of goods.
Selling a beautiful collections of trendy clothes and accessories can never go wrong at any time. This is because there are lot of fashion conscious people who wouldn’t mind spending their last dime on clothes so that they can look good.
So, if you have the eye for beautiful clothes and people often compliment your great sense of fashion, you can convert this skill into business by opening a boutique where you sell collections of gorgeous wears that catch people’s fancy.
Gift Retail Store
It is a usual custom for people to buy and present their loved ones with gifts on their special days like on their birthday or wedding day. This is why opening a gift shop is a good business idea. Just make sure that you situate your shop in a location that will make you enjoy high patronage.
Also, make sure you find out about the different kind of gifts people love buying before starting the shop. You wouldn’t want to stock up your shop with what people will not eventually buy.
People love to look beautiful and because of this, they don’t mind spending their money on what will enhance their beauty. This is why cosmetic products are always in high demand. If it interests you, you can open a cosmetic shop where you sell varieties of beauty and body care products.
Just make sure you stock your shop with products that are people are demanding for and you are sure to make good sales.
You will agree with me that we are now in the information age and to remain relevant in this age, you have to continue to update yourself by constantly acquiring knowledge. And of the best and easiest way people acquire knowledge is by reading good books. Therefore, people are now reading more than ever before. So, opening a bookshop is a good retailing business idea to consider.
Organic Food Retail Store
In the recent time, there has been increase in people’s awareness about healthy living. Because of this people are now including organic foods more and more in their diets. But the organic food market is not huge enough to cater for the demand of the people which is now on the increase.
So, right now in the retail industry, organic food business is one of the best business you can start as there is a ready market for it.
Mobile Phone Retailing
The need for people to stay connected with their loved ones and the popularity of the internet and social media has made the demand for mobile phones especially smart phones to be on a high increase. Therefore, the business of mobile phone retailing is a very thriving one that you can start. You can first start by selling mobile phones accessories so that you accumulate sufficient capital that you can then use to start mobile phone business.
Wedding is one of the ceremonies that people cannot do without celebrating it. It is not possible for a week to pass without many wedding ceremonies taking place. It is always a very special occasion for the brides and they always love to look good and radiant no matter the cost. If you are considering a lucrative business to start, open a bridal shop where you sell bridal gowns, veils, bouquets, and wedding accessories. You can partner with wedding planners to refer customers to you.
Kid Retail Store
The world’s population is increasing day by day and this has resulted in the increase in the demand for kids products such as kids’ clothes, shoes and toys. And the good thing is that people have not really tap into the online aspect of the business. So, you can decide to start an online kid retail store. People will patronize you because it will be easier and convenient for them to shop for their kids online and have the goods delivered to their doorstep.
Sporting Goods Retail Shop
Another profitable business idea in the retail industry that you can consider is sporting goods retail shop where you sell sporting goods to people. In the recent time, people have started to embrace the fitness lifestyle. And this has resulted in the increase in exercise and sporting activities. This has consequently led to increase in demand for sporting goods like sporting equipment and sport wears.
There are still many more business ideas in the retail industry. You can explore more to find the one that suit you most that you can start.