If you are looking to start a profitable business, you might want to consider opening a candy store. Candy stores have become more common these days as there’s been a rise in consumption of candy.
Consumption of candy around the world averages $19 billion per year and increases at a rate of 3.5 percent every year.
From chocolate covered strawberries to caramel popcorn to chewing gum, a lot of people want to buy candy. People buy candy for their personal consumption, for their pets or even as gifts for their kids. Candy is also appealing to different age groups and demographics of all kinds.
Before you open a candy store, here’s five things you should know:
1. Create a Brand.
Creating a brand is an important part of any business and candy stores are no different. Branding includes choosing a business name. Your business name should correspond with what you want to sell. You might also want to consider font styles that appeal to specific audiences.
You should also consider colours. Colors are important in branding as they send a message to your audience. For example, orange represents playfulness, friendliness and vitality. The color scheme for candy stores is a great place to start.
You should also consider social media. There are a lot of candy stores on social media. Business owners use social media to interact with their customers. They also create a presence and attract new customers with social media.
You might also want to consider getting a website. Without a website, people may question the legitimacy of your business. Websites also help create a great first impression on customers.
2. Make a business plan.
After branding, you should make a business plan. Your plan should include the goals and projections of your store. It should also include a description of the store and its management structure. Employment and staffing needs are also important. It should also include the location of your store.
Your business plan should also include the type of candy you want to sell. You may decide to sell handmade candy or resell other products from known brands. You may also decide to sell both. Your business plan should be a written document.
3. Choose what to sell.
You should consider choosing a niche. Candy stores today sell different types of candy. You can decide to sell chewing gum, lollipops or mint candy. You can decide to sell more than one type of candy.
4. Register your candy store.
After branding, the next step is to register your candy store. You will need an Employer Identification Number. You will also have to register for taxes.
5. Decide on how to charge customers.
Charging customers will depend on your business plan. If you want to resell candy from known brands, there are specified prices for resale. If you want to sell handmade candy, you should consider the price of the ingredients used. You should also consider profit.
For candy stores that make handmade candy, you can decide to fix a price. If you’re going to resell, the products already have a range of prices based on your location.
Candy stores are a great business. They are also easy to set up and completely scalable. We hope we have been able to convince you to open a candy store.