In order to have a nice selection, the investment in inventory is around $100,000. It's very important to secure your domain name before someone else does.įind a Domain Now Submit Powered by What are the costs involved in opening a record store?īy far the largest expense when getting started is investment in inventory. When registering a business name, we recommend researching your business name by checking: If you operate a sole proprietorship, you might want to operate under a business name other than your own name. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Record Store Name Generator What will you name your business?Ĭhoosing the right name is important and challenging. Luckily we have done a lot of this research for you. What are the startup and ongoing costs?.It will help you map out the specifics of your business and discover some unknowns. STEP 1: Plan your businessĪ clear plan is essential for success as an entrepreneur. Exploring your options? Check out other small business ideas. These steps will ensure that your new business is well planned out, registered properly and legally compliant. We have put together this simple guide to starting your record store. Get the Necessary Permits & Licenses for your Record Store.Set up Accounting for your Record Store.Open a Business Bank Account & Credit Card.Form your Record Store into a Legal Entity.Start a record store by following these 10 steps:
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