If you're serious about the business but are worried about whether or not it would do well, I'd recommend starting the business online. It's still a lot of work but is *significantly* less involved than creating a standing business. It also could help build the brand and give you an idea of whether or not it would be successful as a standalone store. You could also save a lot of money by starting this way and making sales first, and you could then save for the actual, physical store once you're confident that it would work in your area. Sometimes, remember, that what might not work where you live will work out fantastically online! Aromatherapy and small wares stores do very well online because it's easy to buy and ship.
I'm a webdesigner myself and have created a lot of small business sites and done marketing/promotion so I'm happy to offer some advice if you'd like it.
- Sometimes, the honest truth is that the business doesn't always work out because of a plethora of reasons. 90% of the time it's because the business owner isn't willing to do the work involved in promoting the business. It's not just going to come to you... you do have to work hard for it. But when it pays off, it pays off big time. Web sites reach the entire world and if you offer moderately priced goods and promote the business... you're going to attract a huge number of people.
- The number one mistake people make when starting a business is overpricing their stuff when they're a brand new company. People aren't willing to pay a huge price for something they've never tried before. Establish yourself first... then raise prices. Once people can't live without your stuff they'll be willing to pay more.
- Put yourself in the position of the customer and then ask what would make you buy this product you're offering. Sometimes doing this helps you to see what you might be doing wrong/right.
- You can create a small webstore and sell moderately priced items. Then create flyers and post them at grocery stores and anywhere else you think they'll be seen by your target customer, which should be the everyday woman. If you're looking to sell more upscale customers, you have to earn that. Once you build a following, then you'll become more well known and can raise prices and establish a more high scale customer base. But always offer moderately priced items at first.
- Ask around at salons and hair styling places if you can place your business card or a flyer in the salon for customers. Some places will allow you to do this for free. They may even go in on a deal... offer a 10% discount to *their* customers and they'll advertise for you in their salon. I know dozens of salons who will do this for local business owners especially.
- See how the online business goes for a few months. If you have no sales and you can honestly say you've done everything you can to make it work, then worst case scenario is that you're out webdesign fee and some small production fees. It's better than worrying about paying the mortgage on a rental property for a business that isn't working or defaulting on a business loan. Plus all the taxes, overhead and stress of a standing business. You're likely to be out thousands of dollars if it doesn't go well. And in this economy, you never know.
Hope I've been some help.
Jennifer
http://jenniferdesigns-online.com