21 Tips to Open Anatomical Charts Business

• A business structure
• A good name for your business
• List of dealers from where you can purchase products
• A suitable location
• Promotional tools

Anatomical Charts Business

13. Gauge the demand for a product.

No matter how much you love something.

It will not sell if there is not a real need or desire for it.

Do some market research.

This will allow you to determine whether or not people will purchase your product.

• Investigate whether people are purchasing a product.
• Visit online marketplaces like Amazon or eBay.
• Amazon has a Best Sellers Page that lists products that sell well.
• On eBay, you can do a search for completed sales within a category.
• Study how well products did in auctions.
• If it sold quickly or there was a bidding war for the item.
• It might be a product worth selling.
• Visit Google Adwords Keyword Planner.

Anatomical Charts Business

14. Read trade magazines and academic journals related to your business.

 These will give you a well-rounded understanding of the market.

Learn about trends in the market. Find feedback about the product you want to sell.

Evaluate the ads that are displayed in the publications.

If someone was willing to purchase ad space for a product, chances are it’s a good seller.

Anatomical Charts Business

15. Search for actual facts and figures.

This information will not only help you to gauge the market.

But it will also be useful for creating the financial projections you need in order to obtain financing.

These are updated every five years and present information about sales trends in different industries.

Also, join a trade organization such as the National Retail Federation.

Their Retail Insight Center lists the industry.

And consumer data was gathered from government agencies and consumer surveys.

Anatomical Charts Business

16. Estimate your potential profit margin.

Figure out how much it will cost you to produce or procure the product you want to sell.

Compare this with the amount for which you can sell it.

Determine if the profit margin is enough to make the business worthwhile.

• Get to know suppliers through trade organizations.
• By attending trade shows or by visiting online platforms like Thomasnet.com.
• Compare wholesale information, trade prices and minimum order requirements.
• Determine the retail price by researching what other stores are asking for the product.
• Visit an online marketplace or a brick and mortar store to do this research.
• Compute an estimated direct costs margin.
• The formula is Direct Costs Margin = Sales Price-Total Direct Costs.
• If it costs you $5 to produce an item and you sell it for $20, your direct costs margin is $15.
• Calculate the direct costs margin percentage.
• The formula is Direct Costs Margin Percentage=Direct Costs Margin/Sales Price*100.
• Using the above example, you would calculate {\displaystyle 15/25*100=75\%}.

Anatomical Charts Business

17. Research the competition in your area.

If you’re up against a giant store with bargain-basement prices.

You’re not going to make a profit.

Unfortunately for small business owners.

These giant stores operate in most cities.

However, if you really strive to make your store a special experience, you will attract customers.

• Identify the top competitors by searching the web.
• For example, if you want to open a beauty salon, search “beauty salons” + the name of your city.
• Read reviews about each one.
• Look specifically for what reviewers like and dislike about different salons.
• Not only will this help you identify competitors.
• But it will also give you ideas about how to improve your own business.
• You can also find out about the competition by visiting the stores.

Anatomical Charts Business

18. Describe your marketing strategy.

Explain how you are going to promote your store on a limited budget.

And fill it with paying customers.

These strategies may include ads in the paper or direct mail and flyers.

In addition, you could offer coupons or discounts for bringing in new customers.

Finally, networking is a powerful marketing strategy.

Introduce yourself in person to local businesses.

Join the local chamber of commerce, small business associations or local charities.

19. Hire staff.

In order to do this, you will first need to advertise that you are hiring.

You can do this by posting an ad in the local paper.

Posting ads on job sites, and by word of mouth.

Example telling friends you are hiring and asking if they know anyone looking for a job.

Once you have a pool of applicants.

You will need to interview the candidates who are suitable, and choose the best ones.

• Be sure that you are complying with all of the employment laws that are applicable to you.
• Your employees are the face of your business when you’re not there.
• Therefore, do your best to hire people who are reliable, friendly, and efficient.

Anatomical Charts Business

20. Have a grand opening.

This is another way to draw attention to your business.

After your business is up and running for a few weeks or months, have a grand opening party.

At your party you can have drawings for free stuff, cheaper than usual prices, games for kids, etc.

This will basically be a party where you welcome customers to your shop.

• Although the grand opening may end up costing you money in the beginning.
• If you have a good grand opening you will make up for it in new business.
• Make sure to advertise the date and time of your grand opening.
• Have flyers sent out, post an additional ad in the local paper.
• Create a social media account for your business.

Anatomical Charts Business

21. Advertise your shop.

 Post an ad in the paper, tell all your friends what you’re doing.

And ask them to spread the word.

Post information about your shop on community boards as well as online.

• Harness the power of social media.
• Create accounts that will allow you to advertise your business for free.
• You can always put money into later, once you’ve become well-established, if you wish.
• By doing this, you will be able to post information about your business.
• Post secret deals for followers, and advertise any special events you may have.
• Be sure to share any information about social media accounts you have as much as possible.
• For example, if you open a bakery, try setting up at a local farmer’s market for a few weeks to get the word out. On your booth, post information about where you are located, your phone number and opening times, as well as where you can be found online.
  • You can encourage social media followers by offering a special deal, where customers who follow your business will get a free gift when they come into your shop with a “password” that you post on your social media page/s.