How to start a merchandise business?

To start a merchandise business, you need to decide on what you want to sell and find inventory, choose a business name and entity, and get permits. Merchandise businesses can be extremely successful, you need to understand your specific market and consumer trends.

1. Decide What you Want to Sell and Find Inventory

   A huge step for starting your merchandise business is deciding what you are going to sell. It is generally a better idea to start by focusing on one group of products, rather than tons at the beginning. This helps you get a handle on your business, and later you can expand if you want. After this, you should find inventory.

2. Choose a Business Name and Entity

   You also want to choose a name for your business. This helps you to connect to your business and begin to create marketing plans. Then, you should register your business as a legal entity and create specific business banking accounts for the business.

3. Get a Merchandise License

   To legally begin a merchandise business, you need to obtain a license. Check your specific state for requirements. You should apply for an Employee Identification Number, which is basically a social security number for your business. It can be used to purchase inventory.

4. Figure Out Logistics

   Along with securing inventory, you need to figure out many logistical aspects of your merchandise business. You need to find warehouse space, and a shipping company if you plan on shipping inventory. You also need to hire employees.