Want to get into retail? Here are a few things to think about: Starting up a small retail business can be scary. You need more than just passion and drive. First, you need to do some research to see what works best for you and where the market is trending. Here are 3 small business retail ideas. We’ve also included some Point-of-Sale (POS) system information as well, because if you get into this business, you’ll need all the help you can get. It’s competitive out there! 1. Small Specialty Retail Stores These could be stores like wine, tobacco, cigars, etc. Consider that during the past five years the small specialty retail stores in the United States has reached 41 billion by 2018 and grown by 1%. In that same time period the number of businesses has grown by 1.7%. What’s your idea for a small specialty retail store? Bepoz has a POS system for tobacco, cigars, wine, and more. 2. Family/Indoor Entertainment Centers (FECs) FEC’s are small entertainment or amusement centers that keep the whole family engaged at a lesser cost than a traditional amusement park. It usually includes things like arcades, bounce houses, soft playground areas, games, and more. The market for these FEC’s are valued at 18.9 million, and it’s projected to reach 40.8 million from 2018 – 2015 which is more than a 10% growth rate. That’s according to Allied Marketing Research. 3. Clothing Boutique While the boutique industry has grown during the last five years, it’s starting to slow. Not to say it’s not a good business to start, the number of boutiques opening during the same time frame has grown by 1.9%. You just have to make sure you beat out the online retailers and big department stores. You can if you recognize that a clothing boutique can offer things that others do not, like more personal customer service and unique items. You’ve got to deliver to keep your customers coming back for more.
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