How Much Does it Cost to Open a Retail Store?
The cost to open a retail store depends on the type of store, size, location, franchise and other considerations. Detailed planning and budgeting are required to determine what you need to get started.Location and Licenses, Permits and InsuranceExperts say location can make or break a business, so it is the most important decision and relates to cost in a major way. If you choose less expensive space, but the area has less traffic, it can be detrimental to your sales unless you have a specialty item. However, if choosing an expensive mall space, it requires planning how much volume must be sold to turn a profit. Costs can range from $300 to more than $10,000 a month, depending on size and location. Licensing, insurance and permits all are relative to the store’s location. Some states have little requirements besides zoning restrictions, but other states have detailed requirements. Check with city and state governments or SCORE agencies.Franchise or Independent?Costs can increase dramat
