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Open your own candy shop!
Brenna Pearce
FabJob Guide to
Become a Candy Store
Owner
Visit www.FabJob.com
ContentsAbout the Author .............................................................................9
Acknowledgements .........................................................................9
1. Introduction ..........................................................................................10
1.1 The Retail Candy Business ..........................................................11
1.1.1 About the Industry .............................................................11
1.1.2 Candy Products and Services ...........................................14
1.2 BenefitsofBeingaCandyStoreOwner ....................................18
1.3 Inside This Guide .........................................................................20
2. Getting Ready .......................................................................................21
2.1 Skills and Knowledge You Will Need .......................................21
2.1.1 Candy Making Knowledge And Skills ............................21
2.1.2 Interpersonal Skills .............................................................25
2.1.3 Business Skills .....................................................................26
2.2 Learning by Doing .......................................................................29
2.2.1 Work in a Candy Store .......................................................29
2.2.2 Work in a Candy Factory ...................................................30
2.2.3 Get Volunteer Experience ..................................................31
2.3 Be Your Own “Mystery Shopper” .............................................32
2.4 Learn From Other Business Owners..........................................36
2.4.1 Talk to Candy Store Owners .............................................36
2.4.2 Join an Association .............................................................38
2.5 Educational Programs ................................................................40
2.5.1 Candy Making Educational Programs ............................41
2.5.2 Business Courses ................................................................43
2.6 ResourcesforSelf-Study ..............................................................44
2.6.1 Books and Magazines ........................................................44
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2.6.2 Websites ...............................................................................46
2.6.3 Trade Shows ........................................................................47
3. Starting Your Candy Store Business ................................................49
3.1 Choosing Your Niche ...................................................................49
3.1.1 Traditional Candy Store .....................................................52
3.1.2 Artisan Candy Store ...........................................................52
3.1.3 Specialist in a Single Candy ..............................................53
3.1.4 Candy Store with Other Products or Services ................53
3.2 OptionsforStartingaCandyStore ............................................56
3.2.1 Buying an Established Store..............................................57
3.2.2 Franchising ..........................................................................64
3.2.3 Opening a New Candy Store ............................................69
3.3 Choosing a Store Name ...............................................................69
3.4 Your Business Plan .......................................................................71
3.4.1 What To Include In a Business Plan .................................73
3.4.2 Start-UpFinancialPlanning ..............................................78
3.4.3 A Sample Business Plan .....................................................88
3.4.4 Business Plan Resources ....................................................99
3.5 Start-UpFinancing .....................................................................100
3.5.1 GettingPrepared ...............................................................100
3.5.2 Equity vs. Debt Financing ...............................................102
3.5.3 Borrowing Money .............................................................104
3.5.4 Finding Investors ..............................................................106
3.5.5 Government Programs ....................................................108
3.6 LegalMatters ...............................................................................110
3.6.1 Your Business Legal Structure ........................................110
3.6.2 Business Licenses ..............................................................117
3.6.3 Taxes ...................................................................................118
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3.6.4 Insurance ............................................................................121
4. Setting up Your Retail Store ............................................................125
4.1 Finding a Location ......................................................................125
4.1.1 Possible Locations .............................................................126
4.1.2 Points to Consider ............................................................130
4.1.3 Signing Your Lease ...........................................................134
4.2 Store Design ................................................................................147
4.2.1 Outside the Store ..............................................................147
4.2.2 Inside the Store..................................................................149
4.2.3 Store Security ....................................................................154
4.3 Displaying Merchandise ...........................................................155
4.3.1 Maximizing Sales ..............................................................156
4.3.2 Creating Window Displays .............................................158
4.3.3 CreatingaCandyBuffet ..................................................159
4.3.4 CreatingGiftBasketsandCandyFloral Arrangements ...................................................................160
4.4 Retail Equipment and Supplies ................................................163
4.4.1 Items You’ll Need .............................................................163
4.4.2 Suppliers ............................................................................168
4.5 Obtaining Your Inventory .........................................................171
4.5.1 Wholesalers .......................................................................171
4.5.2 Manufacturers ...................................................................172
4.5.3 Prices and Terms ...............................................................173
4.5.4 Consignment .....................................................................174
5. Running Your Business ....................................................................177
5.1 Store Operations .........................................................................177
5.1.1 Developing a Procedures Manual ..................................177
5.1.2 AreasofOperationsChecklists ......................................179
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5.1.3 SettingHoursandPolicies ..............................................182
5.2 Inventory Management .............................................................183
5.2.1 InventorySoftware ...........................................................183
5.2.2 Inventory Tags and Labels ..............................................184
5.2.3 Taking Inventory ...............................................................185
5.3 Pricing Merchandise ..................................................................188
5.3.1 Retail Pricing Formulas ...................................................189
5.3.2 Standard Markups ............................................................192
5.3.3 Clearing Items Out ...........................................................194
5.4 GettingPaid .................................................................................194
5.4.1 Accepting Debit Cards .....................................................195
5.4.2 Accepting Credit Cards ...................................................195
5.4.3 Accepting Payment Online .............................................197
5.4.4 Accepting Checks .............................................................197
5.4.5 HandlingCash ..................................................................198
5.5 Financial Management ..............................................................199
5.5.1 Bookkeeping ......................................................................199
5.5.2 Financial Statements and Reports ..................................201
5.5.3 Building Wealth ................................................................210
5.6 Employees ...................................................................................213
5.6.1 Employees versus Contractors .......................................213
5.6.2 BeforeYouHire .................................................................215
5.6.3 RecruitingStaff .................................................................219
5.6.4 TheHiringProcess ...........................................................222
5.6.5 New Employees ................................................................226
6. Getting and Keeping Customers ....................................................230
6.1 Marketing Tools ..........................................................................230
6.1.1 Printed Materials ..............................................................231
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6.1.2 Your Website ......................................................................237
6.1.3 Social Media .....................................................................244
6.2 Marketing Techniques ...............................................................248
6.2.1 Advertising ........................................................................248
6.2.2 Free Publicity .....................................................................253
6.2.3 NetworkingandReferrals ...............................................258
6.3 Marketing Events .......................................................................260
6.3.1 Your Grand Opening ........................................................260
6.3.2 Other Special Events ........................................................264
6.4 Customer Service ........................................................................265
6.4.1 Greeting Customers .........................................................265
6.4.2 Making the Sale .................................................................266
6.4.3 Return/Exchange Policy ...................................................268
6.4.4 GettingRepeatBusiness ..................................................269
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FabJob Guide to Become a Candy Store Owner
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1. IntroductionCongratulations on your decision to open a candy store! Few careers give you the chance to bring so much happiness to others. And not many careers give you the opportunity to indulge your sweet tooth at the same time.
Ifyou’relikemostpeople,youprobablyhavefondmemoriesofcandystoresandthecandiestheysold.Maybeyourememberthedaysofpennycandy,whenyouwalkedintoyourfavoritecandystoreandfor10centswalkedoutwithabagstuffedwithyourfavoritesweettreats.Walking through a department or grocery store candy aisle just doesn’t comparetowalkingintoafull-servicecandystorewithitsshelvesbrimmingwithcolorfulanddeliciouscandiesofeverydescription.
Thenostalgiavalueofthecandiesthemselvesissomethingtreasuredbypeoplewholovecandy.Rememberwaxlips,licoricecigarsandpipes,
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AtomicFireballs,booksofLifesavers?Well,manyofyourcustomerswillrememberthem,too,andthey’llbethrilledtofindtheseandotherretro candies in your store. (Many retro candies are still available andyou’lllearnwheretofindthemlaterinthisguide.)They’llbedelightedtopassontheirfondmemoriestotheirownchildrenandgrandchildren.(Well,perhapsnotthecandycigarettes!)Andyou’llalsointroducenewgenerationsofcandyloverstoallthesweettreatsyousell.
Candystoresgobeyondmerenostalgia,though.Thesedays,candystoresaremuchmorediverseintheirofferingsandveryattentivetoconsumerdemand.Candystoresselleverythingfromgourmetchocolatestoartisancandiestoorganiccandies,aswellasoldfavoriteslike licorice whips and bubble gum. They even cater to the special dietarydemandsoftheircustomersbysellingkosheranddieteticcandies.
Ofcourse,owningacandystoreisn’talwaysassmoothasamouthfulofsaltwatertaffy.You’llberunningyourownbusiness.You’llneedtoknowhowtochoosealocationforyourcandystore,howtoputtogetherabusinessplan,howtocreateastart-upbudget,andahostofotherimportantconceptslikebuyinginventory,marketingyourbusiness,stayingontopofconsumertrendsincandybuying,andmuch more. That’s why we created this guide. Everything you need to knowtogetyoustartedonyourdreamofowningacandystoreisrighthere. Let’s get started!
1.1 The Retail Candy Business
1.1.1 About the IndustryAccordingtotheU.SEconomicCensusdata(presentedatwww.census.gov/newsroom/facts-for-features/2017/cb17-ff02.html),in2014therewere3,217retailersintheNAICScategory445292,‘ConfectioneryandNutStores.’Thesestoresemployedover22,000peopleandhelpedcandymanufacturersintheU.S.ship$16billionofproducts,plusdemandinganother$3.4billionof importedchocolateandconfectioneryproducts.Formorereportsontheretailconfectioneryindustry,visithttps://factfinder.census.gov;under‘AdvancedSearch’
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entercode445292.(Formanufacturinginformation,enterNAICScode311340.)
According to the International ConfectioneryAssociation, anorganizationthatrepresentsconfectioneryindustryassociationsfromaroundtheworld,globalsalesofconfectioneryproductstopped$136billionin2006.AndaccordingtoarecentNCA(NationalConfectionersAssociation)pressrelease(atwww.candyindustry.com/articles/86485-nca-us-confectionery-market-to-grow-6-billion-in-5-years),theU.S.confectionerycategoryaccountedfor$33.6billioninsalesin2014,andisexpectedtoreachabout$39.6billioninfiveyears:
Wilsontoldtheaudiencethatthe$6billionwilllikelybreakdowntoabout$4billioninadditionalchocolatesales(currentlyatabout$20.6billion),$1.8billioninnon-chocolatesales(currentlyatabout$10.3billion),andabout$400millioningumsales(currentlyatabout$2.7billion).Topsegmentsdrivinggrowthinthecategoryinclude:
• Premium chocolate
• Strong brand image
• Sharable packaging
•Hybridandlineextensions
•Cross-branding
• Seasonal execution
• Translating seasonal business gains into everyday business strength
Morerecently,theNCAreports(inMarch2017,atwww.candyindustry.com/articles/87662-medicated-organic-candies-to-drive-sugar-confections-to-556-billion-by-2022) on especially hot growthcategories:
•Anincreasingnumberofmillennialsarenowhealth-consciousandexhibitagreaterpropensity towardhealthier lifestylehabits.Excessiveconsumptionofsugarandsweetshasbroughtabout increasedconcernsaboutobesityanddiabetes, thuspushingconsumerstowardorganic,sugar-freeconfectionery.
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Such products that address consumers’ sweet tooth while providing“better-for-you”positioninghavefoundmanytakers.
•Themedicatedconfectionerysegmenthasbecomeahighlycommercialareaofthemarketinrecentyears.Theappealforconsumersliesincandyandhard-boiledsweetsthataremadefromathickliquidandcanbeconsumedforaddedmedicalbenefits.Themarketshelvesarefilledwithasurplusofmedicatedconfections,suchaspastilles,lozenges,vitaminsandhard-boiled,sweet candies.
•SeveralconfectionersincludingTorie&Howard,YumEarthandSweetieBloomshaveaddednewproductstotheirofferings,whichincludeingredientssuchasmaplesyrup,nectar,cashewflour,honeyandcaramel,allofwhichareorganicallysourced/created. They include products that are as unique and tasty aslicorice,flavoredmints, lozenges,gummybears,nougat,marshmallows and lollipops. All these products have ushered inaneweraof“healthy,organic”candiesinthemarketplace,capturingthefancyofever-conscious,label-readingconsumers.
And,ofcourse,candystorescanbenefitgreatlyfromtheseconsumertrends.Youcanappealtoyourcustomers’senseofnostalgia,sincecandyconsumptionisoftenlinkedtopositivechildhoodmemories,familyget-togethers,andotherfondremembranceswherecandywasinvolved.Candyisalsoaveryaffordableindulgence,andmanyturntocandyasarelativelyinexpensivecomfortfood,especiallyintryingtimes.
Theriseinamoreglobalcuisine,asthereportnotes,hasalsocreatedademandformoreexoticflavorsfromaroundtheworldandcandymanufacturersarerespondingtothistrendbycreatingmoreinterestingflavorsinadditiontothemoretraditionalcandieswe’reallusedto.
Finally,ifyouareanartisancandy-makeryourself,you’llhaveareadymarketofconsumerswhocravetheoriginalflairoftheartisanproducer,aswellasthehigherqualityofartisancandyofferings.Evenifyou’renotacandymakeryourself,therearemanyartisanconfectionerswhowouldbehappyforyoutoselltheirwaresinyourcandystore.
TIP: Youcankeepuponcurrentcandytrendsbywayofyourfavoritesearchengine(amongothermethods);forinstance
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atpresstime,wefindusefulinformationpresentedathttp://brandongaille.com/29-captivating-candy-industry-trends and www.confectionerynews.com/Markets/2016-Sweets-Snacks-Expo-What-s-new-in-candy-innovation.
1.1.2 Candy Products and ServicesCandiesandconfectionscomeinanamazingvarietyofproducts.Asacandystoreowner,youwillbeexpectedtobetheexpertineverytypeofcandyyousell.Themoreyouknow,themoreyoucanenticeyourcustomersintotryingnewvarietiesthey’venevertriedbefore.Thisnotonlyincreasesyourrevenues,butkeepsyourcustomerscomingbackformore.Herearesomeofthedifferenttypesofcandyyoucansell:
Hard Candies
Thehardcandycategoryincludesmanyofthetraditionalandold-fashionedtypesofcandy.Theseareoftenindividuallywrapped.Youcansellthembythepiece,inbulk,orinpre-packagedbagsofindividually wrapped candies.
•Dropcandy(butterscotch,lemon,raspberry,spearmint,etc.)
•Horehound
• Jaw breakers/gob stoppers
• Lollipops
• Mints
• Rock candy
•Stickcandy(e.g.candycanes)
•Taffy(althoughsomearesoft)
Soft Candies
Themarketforsoftcandiesisalsovast.Nearlyeveryonehastheirownfavoritetypeofsoftcandy.Justthinkaboutthemanydifferentvarietiesofgummiesforexample:everythingfromgummybearstogummyworms.Anotherclassicsoftcandyisthepate de fruit,asoft,chewycandysimilartogummiesandmadefromfruitpuree.
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• Caramels
•Driedfruits(wholedriedfruits)
•Gum(technicallyasoftcandy)
•Gummies(manydifferentshapesandflavors)
•Jellybeans(hundredsofflavors)
•Licorice(ropes,whips,pieces)
•Marshmallowsandmarshmallowfilledcandy
• Pates de fruits(afruit-basedsoftcandy)
Chocolate
Chocolateisaperennialfavoriteamongcandyloverseverywhere.Asacandystoreowneryouwillbestockingthistreat,andyoushouldknowsomethingaboutit.Therearemanydifferenttypesofchocolatethatappealtodifferentconsumertastes.
People’spalatesarealsobecomingmoresophisticatedintermsofthetypesandqualityofchocolatethey’rechoosing.Salesofpremiumchocolateandartisanchocolateshavetakenoffinrecentyears,asreportedinConfectioneryNewsinMarch,2010.Whetheryouchoosetomakeyourownchocolatesorpurchasethemfromsuppliers,youshouldbeawareofallthedifferentvarietiesavailableforsale.Thismightalsoincludeknowingsomeofthemoreexoticflavorsavailableandvariationslikeglutenfreeandveganchocolates.
Seasonal Candies
Certainholidaysseemtobemadeforthecandyseller.WherewouldValentine’sDaybewithoutthetraditionalgiftofchocolate?TherearedozensofEaster-themedchocolatesandcandiesyoucanaddtoyourline-up,too.Nameaholidayandthereislikelysometypeofcandyassociatedwithitorpackagedjustfortheseason.Yourwholesaler’srepwillbeabletosetyouupwithalmostanykindofseasonalcandyyou could want.
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Dietary Candies
Dietarycandiesaremanufacturedwithcertaindietaryrestrictionsinmind.Thesecanbehealth-related,religious(e.g.kosher),ormadewithoutanyanimalproducts(likemilk,eggs,etc.)orartificialadditives.Ifyou’relookingforthesetypesofproductsforyourstore,besurethateachproductismanufacturedinafacilitythatdoesnotmanufactureotherproductsthatdocontaintherestrictedingredient.Forexample,ifyou’resellingnutfreecandy,makesuretheyaremadeinafacilitythatiscompletelynutfree,otherwisethemanufacturercannotguaranteethattheirproductsmightnotbecomecontaminatedwithnuts.Herearethemaintypesofdietarycandiesyoumightcarry:
•Fooddyefree(fooddyesarelinkedtocancers,hyperactivity,allergicreactions,etc.)
•Glutenfree(glutenisaproteininwheat,barleyandryethatmanypeopleareallergicto)
•Kosher(dietaryrestrictionsthatfollowJewishbeliefs)
•Lactosefree(doesnotcontainmilkproducts)
•Nut-free
• Organic
•Sugar-free
• Vegan
• Vegetarian
Fruits and Nuts
Nuts,fruitpieces,seeds,andgrainsarefoundinlotsofdifferentkindsofcandy,especiallychocolate.However,someareworthnotingastheyareperennialfavoritesamongcandy-loversasstand-aloneproducts.Inadditiontocandy-glazednuts,manycandystoresalsosellregularsaltedandunsaltedvarietieslikecashews,peanuts,sunflowerseeds,pumpkinseeds,etc.
•Almonds(chocolatecoveredorglazed)
•Driedfruit(naturalorwithcandyglaze)
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•Peanuts(chocolatecoveredorglazed)
•Popcorn(e.g.caramelcorn)
•Raisins(coveredinchocolate,yogurt,glazed)
•Sunflowerseeds(naturalorwithcandyglaze)
Other Snack Foods
Besidescandy,youmightalsowanttobecomefamiliarwiththemanydifferentsnackfoodsavailable.Noteveryonewhocomesintoyourstorewillbeacandylover(difficultasthatistoimagine),soyoumightwanttoincludesnackslikechips,plainorsaltednuts,andsoon,inordertoroundoutyourofferings.
Somesnackfoodstoconsiderforyourcandystoreinclude:
•Corn(wholeflavored/saltedkernels)
•Chips(potato,corn,tortilla)
• Cheezies
• Cookies
•Hickorysticks
• Jerky
•Nuts(plainandsaltedpeanuts,cashews,almonds,etc.)
•Popcorn(flavoredorplain)
• Pork rinds
• Pretzels
•Pumpkin,sunflower,andsesameseeds
Althoughthereisanalmostinfinitevarietyofcandiesandrelatedtreatsthatyoucanpurchasewholesaleforyourstore,youmayalsohaveaninterest in creating and selling your own candy creations. You could start your store using wholesale purchased candy and gradually add your own creations as you go. You might also be interested in starting a unique store that sells just your candies. We’ll look at the knowledge
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andskillsyouneedformakingyourowncandiesinthefollowingchapter.
Services You Can Offer
Inadditiontotheproductslistedabove,youcanalsooffersomeuniqueservicestoyourcustomers.Theseinclude:
•Cateringforevents(partyfavors,weddingcandies,cottoncandy,etc.)
•Giftbasketsandcandy“floral”arrangements
• Personalized candy
We’ll tell you more about these service in chapter 3.
1.2 Benefits of Being a Candy Store OwnerOwningacandystorecanbeafulfillingandrewardingcareer.Inadditiontothebenefitsofworkingforyourself,itoffersthepossibilitytoshapethesizeofyourbusinessaccordingtoyourownpreferencesand personal ambitions. You can work to establish a store that turns aprofitandprovidesafairincomeorchoosetoexpandbeyondtheoriginalstoreandopenupanotherstoreoncethefirstbecomesprofitable.
Fun Work Environment
Whatcouldbemorefunthanworkingincandystore?You’llfeellikeakidagaineverytimeyoustepintoyourstore.Allthemanyvarietiesofconfections,rightthereatyourfingertips,andit’sallyours.
Nomore9-to-5job,nomoregrumpybosslookingoveryourshoulder.Whenyou’retheownerofacandystore,you’llsetyourownhours.Manycandystoresareafamilyaffair,too.Imaginebeingabletospendtime with your spouse and kids who can work right alongside you and learn the business with you.
You’llalsobeanimportantpartofhelpingpeoplesuccessfullycelebrateeventslikebirthdays,speciallifeevents,andjustaboutanythingelse
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that people want to commemorate by throwing a party and adding candy to it. Many celebrations will center on your candies and service offerings.
Financial Rewards
Many candy stores have started out as small proprietorships and then goneontobiggerandbetterthings.Candygiant,Mars,startedoutinafamilykitcheninTacoma,Washington.TheJellyBellycompanystartedoutasasmallicecreamandcandystoreinBelleville,Illinois.And,aswementionedearlier,theindustryasawholeproducesbillionsofdollars in sales. Your candy store will have the potential to provide you withagoodlivingormaybeevengiveyouthechancetoturnyourlittlecandy store into a million dollar empire.
Make People Happy
Most candy store owners take great pleasure in helping make other people happy. They enjoy developing relationships with their customersandothermembersofthecommunity,gettinginvolvedincommunityactivities,andbecomingrespectedmembersofthebusinesscommunity.Andtheygetthesebenefitsonadailybasis.You’llseethesmilesandhappyfacesofcustomersfromtheveryfirstdayyouopenyourdoorsforbusiness.
Exercise Your Creativity
Ifyou’reacreativeperson,andyouprobablyare,youcanuseyourcreativeimaginationinmanydifferentwaysascandystoreowner.Imaginedevelopingexcitingnewcandyflavors,undiscoveredtastecombinationsthatmakeyourproductlistuniquefromothershopslikeyours.Createfancygiftbaskets,floralarrangements,orgowildinyourstore creating enticing candy displays.
You can also create aunique environment forpeople to enjoypurchasing your products. Many candy stores hearken back to long ago timesbyturningtheirshopsintoold-fashionedcandystoresbrimmingwithnostalgia.IfyourememberthedaysofpennycandyorjustlongforatimewhentheneighborhoodcandystorewasacenterofactivityonalazySundayafternoon,you’llloveowningyourowncandystore.
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1.3 Inside This GuideThe FabJob Guide to Become a Candy Store Owner is organized to help take youstep-by-stepthroughthebasicsyouwillneedtoopenandoperateyourownstore.Thechaptersareorganizedasfollows:
Chapter 2 (“Getting Ready”)explainstheskillsyouwillneedasacandystoreowner.Itcoverswaysoflearningfromexpertsandthroughobservation.You’llalsofindresourcesforlearningmore.
Chapter 3 (“Starting Your Candy Store Business”)willhelpyoudecidewhatkindofstoreyoushouldopen.Thischapterdiscussesdifferenttypesofcandystoresyoucanopenandwillhelpyoudecidewhethertobuyanexistingstore,operateafranchise,oropenanewstore.Italsoexplainswhatyouneedtogetstarted,includingyourbusinessplan,start-upfinancing,storename,andotherimportantmatters.
Chapter 4 (“Setting Up Your Store”)offerstheinformationyouneedtoactuallysetupyourstore.Itgivesadviceonhowtochoosealocation,getmerchandisetosell,andarrangedisplays.Youwillalsodiscoverwhat equipment and supplies you will need.
Chapter 5 (“Store Operations”)takesyouintotheday-to-daychallengeofrunningyourcandystoreonceit’sopen.Itexplainshowtodevelopaproceduresmanual,andcoversinventorymanagement,financialmanagementandpricing,andhiringstaff.
Chapter 6 is all about “Getting and Keeping Customers.” We’ll show you how to put together a marketing plan to let customers know you’ve opened.You’lllearnhowtoputonagrandopeningforyourstoreandfindmanyotherpromotionalideastogetpeopleinterestedinyourstore.Finally,we’lllookatcustomerserviceandhowtokeepyourcustomershappyandcomingbackformore.
Byfollowingthestepsinthisguide,youwillbewellonyourwaytolivingyourdream—openingyourownsuccessfulcandystore.
You have reached the end of the free sample of the FabJob Guide to Become a Candy Store Owner. To order and download the complete guide go to https://fabjob.com/program/become-candy-store-owner/.
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