Start an Appliance Business
Appliances are something that people can't live without. When they're old or break down, people immediately need a replacement. That makes an appliance store a business whose goods are always in demand. Here's how you can start your own appliance business.
Instructions
1. Plan your appliance business. Determine the types and brands of appliances you want to sell. Decide if you'll have a variety for all types of buyers or if you'll focus on a specific market such as high-end appliances. Decide if you'll just sell appliance or offer service and repair as well.
2. Develop your business plan. Provide the details about your products and services, focusing on how your appliance business differs from all the others. Include information about your target market and how you'll market to them. Provide a section on your financial information, including your assets and liabilities as well as your projected income and expenses. Finally, set goals for your appliance business for the next 12 months.
3. Get financing. Use your business plan to approach banks about loans or to entice investors. Research associations related to appliances to see if they offer loans or other financial resources. Check to see if your appliance vendors/wholesalers will extend credit. Visit the Small Business Administration at Sba.gov to get more ideas on financing your appliance business.
4. Establish your business. Get the permits and licenses as required by your city or county. If your state collects sales tax, apply for a sales tax permit from your state's sales tax office. Create your business structure (for example, a limited liability company).
5. Find a store location. You'll need space large enough to showcase a variety of appliances and brands, plus storage to house appliances not on display. You'll need a location where appliances can be unloaded and loaded for delivery. You may also want to buy a truck to deliver your appliances to customers.
6. Contract with appliance manufacturers or wholesalers. Research to find manufacturers and wholesalers. At the Association of Home Appliance Manufacturers (Aham.org), you can find a list of manufacturers with contact phone numbers. Your sales tax permit should allow to buy your stock without paying sales tax.
7. Launch your business. Have a grand opening event offering discounts to initial customers. Send a press release to local media. Create a marketing plan that includes advertising and other forms of marketing. Have your business name and logo displayed prominently on your delivery truck for additional promotion. Contact local home builders who need appliances for their new homes.
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