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How to start a sweetshop

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by Startacus Admin

Finance and Business Practicals

This certainly won’t be the most exciting part of setting up and running a sweet shop, but you must get your head around it or you could end up a How to start a sweetshopsticky situation!

  • Do you have a good idea of how much money you will need to set up your sweet shop? Have you considered applying for a start-up loan or a grant?  

  • If you plan to run the online side of your business from home, are there any renovations which will need to be carried out in order to make your home suitable?

  • Do you know what your monthly overheads will be? Remember to factor in all costs associated with the business including: rent, salaries, electricity, advertising, council tax, purchasing stock, distributing stock, loan repayments etc.

  • Will you be giving yourself a guaranteed salary each month? Or will you be taking a salary only if and when you can afford it?

  • Chances are that your premises will need to be redecorated to prepare for opening as a sweetshop - so how much will it cost to complete this process?

  • How much money will you need to bring in, in order to break-even or make a profit? Do you have a contingency fund available in case you miss your targets?

  • As with any retail business, make sure that you have a clear understanding of the Sale of Goods Act! Make sure that you know your rights and also those of the customer.

  • Have a clear returns policy which is easily accessible for the customer.

  • Make sure that you are well aware of any legalities of running a sweet shop and follow all rules precisely.

In fairness, each and every one of these sections could go on and on (sometimes it seems there is an almost infinite number of things to be considered when starting a business) however we hope that this brief guide has got you thinking about some of the major things that you should be addressing as you begin to build your sweet shop business! Best of luck !

Just be sure that you dont eat all the profits!

Don't forget to go exploring on Startacus for lots more tips and advice to help you with setting up and running your business! If you have a great idea, project or startup then add it to our fab collaboration space where you can recieved loads of support from our community of self-starters, startups and investors.

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Published on: 15th January 2014

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