An office supply store is essentially recession proof because “offices need a regular supply of their various needs day-to-day, such as paper, ink, paper clips and many other things. Schools are also big users of office supplies.
Entrepreneurs can find a lucrative and sustainable business that provides necessary products to other businesses, charities, educational institutions and individuals.
START UP COST
An office supply store will incur significant start-up and operations costs including but not limited to lease space, retail display fixtures, point-of-sale systems, inventory tracking software, office supplies, inventory and legal document fees. Hire an accountant or attorney to write a business plan to estimate all costs.
Visit the Small Business Administration’s website and navigate to the “Financial Assistance for Borrowers” section. The Small Business Administration maintains a list of approved, commercial-business lenders and even offers guaranteed loan programs. In addition, seek grant money from the federal government.
Locate retail trade publications and look up wholesalers. Contact office supply wholesalers and request a new retailer information package be sent to you. Also, ask for a price list to be included. Speak to other office supply businesses to find reliable wholesale vendors.
Locate retail space with plenty of parking, preferably at a busy intersection. Lease space should be at least 2,500 square feet for a small office supply store and up to 25,000 square feet for a large retailer. Lease agreements differ by location, but in general, leases are “Triple Net” or “NNN”, meaning the lessee pays per square foot along with a percentage of both the property maintenance costs and property taxes.
Place job opening ads in a local newspaper and post job offers in local high schools, community colleges and universities. In addition, register with your state’s unemployment agency to be placed on its workforce reentry program.