Starting a blue-collar shop requires a lot of planning. The blue-collar industry is growing exponentially, and there is a huge potential for growth. But it’s easier said than done, and any business idea requires throughout research into every possible area. So with all that said, we’ve done our research and we’re bringing you a guide on how to start a blue-collar shop.
1. Planning is Everything
As an entrepreneur, it’s essential to create a plan that will cover everything from costs and target market, as well as discover all the unknowns. There are a few important topics that you need to consider when planning, and those are:
What will be the initial costs of opening a blue-collar shop?
Who are your target market and target audience?
How long will it take you to break even?
What will be the name of your business?
Getting the answer to every question is more important than you think. But when it comes to naming your business, you must choose a name that you can purchase a domain for. When owning a shop, you must explore the internet as a possible market venue.
2. Business Overview
A blue-collar store sells hand and power tools in the manufacturing, mining, sanitation, custodial, textile, power plant, farming, commercial fishing, landscaping, pest control, food processing, oil, waste disposal, recycling, electrical, plumbing, mechanic, construction, and any other field that requires physical work.
So naturally, you will be selling tools that people in these fields can use.
3. Stock on Tools and Appliances
Since your work will involve selling goods to others, you must keep your shop stocked on these tools. Since you will be offering your services to the blue-collar industry, you will be mostly selling tools such as plumbing equipment, electrical equipment, farming equipment, fishing equipment, and welding equipment, amongst others.
When purchasing these types of equipment, it’s important to own the best ones in the industry, to attract more customers by offering quality products. Out of all the tools out there, MIG welders are the hardest to come by, so you can make a clear business plan by offering them. As an example of what to look for, make sure you visit weldingpros.net for more information about MIG welders.
4. What is Your Growth Potential?
Blue-collar stores can be run as small family-run businesses, local shops, and even chain stores that can spread throughout the U.S.
So from the get-go, there is a lot of growth potential. If you break even within the first 12 months and make large profits in the next two quarters, give a good thought until the end of your first 24 months before expanding or even creating a franchise.
5. What Are Some of the Skills and Experiences That Can Help You Run a Blue-collar Shop?
Firstly, since you will be selling equipment to blue-collar workers, you will need to have some skills as a salesperson. Secondly, a strong business sense is required, and thirdly, some experience as a blue-collar worker could come in handy when determining the quality of the products you will be selling. You need to know your target market, and your target industry, so knowledge on that front is always helpful.