Starting a retail business has been one of the harder ways to start a business, and the statistic that “98% of businesses fail in their first year” has a lot to do with this business model.
Here’s the reason why… Retail businesses usually require a large sum of money to start. I’m going to share a method with you for starting a retail business that isn’t that costly, but let’s first look at how retail businesses were usually operated before.
Other than having to pay for your monthly lease, you have to worry about hiring employees, hiring a manager (if you don’t want to be at the store every day), buying stock, getting a merchant service and computer system… not to mention having to worry about your employees taking you for whatever you got in your stock or your cash register.
All of these risks and expenses end up doing … Read More