Sunday, October 6, 2013
On the business path: What to do-6
Going for a physical location is good and in fact it is happening now in the U.S. where some of the internet companies are opening retail stores in choice locations after being extremely successful online. But if you want to start part time, this may not be a good option to start with. Let me explain it thoroughly. If you want to start a business especially a physical one, you will have to be at the store during the duration of the time it is opened. People don’t want to see a store opened only on the weekends or after 6 in the evening when you come home. And I have not seen any store opening like this unless you are in one of the flea markets where the hours of work are different. How you will be able to build your clientele if you are open only for a certain time and what kind of experience you will be having by doing just that. This is the main problem with having a physical store; you really cannot do it part time since your customers expect you to be there for your normal working hours. And apart from this there are so many things you need to do if you want to open up your own store, like insurance, location, size of the store, what kind of store you want, utilities expenses, reliable and trustworthy employees (another topic in this series) when you are not there to manage the store, security, dealing with taxes, regulatory and government agencies, rules regarding operating your business in a certain place., then the layout of the store. Plus you cannot work on your store after a certain time due to noise regulation and other rules of the place where your store is.