1. Decide on a business model: Choose whether you will be an online retailer or open a physical store, and decide what type of merchandise you’ll offer.
2. Create a business plan: Develop and document a plan to help you map out the course of your business.
3. Choose a legal structure: Select the form of ownership that best suits the nature and needs of your business.
4. Register your business: Determine whether you need to register with local, state or federal agencies for tax purposes.
5. Determine licensing requirements: Research and apply for any licenses or permits you need to operate your business legally.
6. Set up a bookkeeping system: Develop a record-keeping system to help you track income, expenses and other financial data.
7. Find suppliers: Identify reputable sources where you can obtain the goods you’ll be selling.
8. Establish a pricing strategy: Decide how much to charge for the items you are selling and establish a system to track your costs.
9. Promote your business: Develop an effective marketing plan, including online and offline promotional strategies, to attract customers.
10. Open for business: Finalize your business launch plans and prepare to open your doors or start taking orders!