Pros:
-High demand for costumes, especially during the holiday season.
-Great opportunity to capitalize on a growing market.
-Ability to offer custom designs or rental services.
-Potential for high profit margins in a niche that is easy to break into.
-Opportunity to offer a wide variety of costumes and accessories that cater to specific interests or tastes.
Cons:
-Seasonal nature of the business means high start-up costs with limited returns outside of Halloween season.
-Risk of oversaturating the market in certain areas.
-Competition from other costume shops, big-box stores, and online retailers.
-High overhead costs associated with maintaining a storefront.
-Vulnerability to market fluctuations and economic downturns.
-Potential for theft or damage to valuable inventory.
-Liability issues that may arise from faulty costumes or other safety hazards.
-Reliance on seasonal employees with limited knowledge of the business and its products.
-Constant need to promote, advertise, and stay current with trends in order to remain competitive.
-Compliance with applicable laws and regulations.