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Gift Shop Business Plan Template

Written by Dave Lavinsky

Gift Shop Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their gift shops. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a gift shop business plan template step-by-step so you can create your plan today.

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What is a Gift Shop Business Plan?

A business plan provides a snapshot of your gift shop as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Gift Shop

If you’re looking to start a gift shop, or grow your existing gift shop, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your gift shop in order to improve your chances of success. Your gift shop business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Gift Shops

With regards to funding, the main sources of funding for a gift shop are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for gift shops.

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How to write a business plan for a gift shop.

If you want to start a gift shop or expand your current one, you need a business plan. Below are links to each section of your gift shop business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of gift shop you are operating and the status. For example, are you a startup, do you have a gift shop that you would like to grow, or are you operating gift shops in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the gift shop industry. Discuss the type of gift shop you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of gift shop you are operating.

For example, you might operate one of the following types of gift shops:

• Souvenir gift shop : this type of gift shop sells local gift items that are associated with the neighborhood attractions in the region, events along with facilities. The actual things in the gift shop include t-shirts, key holders, magnets, and caps and many others.
• Museum gift shop: this type of gift shop is located in a museum and sells museum related gifts such as books, t-shirts, gifts that explain the legacy of the museum, and can be historically focused as well.
• Airport gift shops: this type of gift shop is located near the waiting areas of airports and is intended to attract travelers who wish to take back with them a souvenir that is indicative of the city or location they traveled to.

In addition to explaining the type of gift shop you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, number of positive reviews, reaching X amount of clients served, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the gift shop industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the gift shop industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your gift shop business plan:

• How big is the gift shop industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your gift shop? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your gift shop business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: travelers, collectors, families, and anyone looking for a gift for a friend or loved one.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of gift shop you operate. Clearly, collectors would respond to different marketing promotions than travelers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other gift shops.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes online retailers and antique shops. You need to mention such competition as well.

With regards to direct competition, you want to describe the other gift shops with which you compete. Most likely, your direct competitors will be gift shops located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What type of gift shop are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide gifts that are not normally found anywhere else?
• Will you provide products that your competitors don’t offer?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a gift shop business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of gift shop company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to a gift shop, will you provide gift wrapping, gift sourcing, engraving, and any other services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your gift shop company. Document your location and mention how the location will impact your success. For example, is your gift shop located in a museum, a restaurant, an airport or local attraction, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your gift shop marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Billboards and bus benches
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your gift shop, including cleaning, updating inventory, cash register reconciling, product ordering, customer interaction, and payroll and staff scheduling.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sell your Xth gift, or when you hope to reach $X in revenue. It could also be when you expect to expand your gift shop to a new city or location.  

Management Team

To demonstrate your gift shop’s ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing gift shops. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a gift shop or a historian of a museum or landmark if it is a landmark/museum themed gift shop .  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you start with a small selection of gifts and expand to offer more gifts ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your gift shop, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a gift shop:

• Cost of gifts and inventory
• Cost of cash register and supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your gift shop location lease or list of gifts you plan to sell.  

Putting together a business plan for your gift shop is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the gift shop industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful gift shop.  

Gift Shop Business Plan FAQs

What is the easiest way to complete my gift shop business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Gift Shop Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of gift shop you are operating and the status; for example, are you a startup, do you have a gift shop that you would like to grow, or are you operating a chain of gift shops?

Don’t you wish there was a faster, easier way to finish your Gift Shop business plan?

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Other Helpful Business Plan Articles & Templates

Gift Shop Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Wholesale & Retail

Are you about starting a gift shop online? If YES, here is a complete sample gift shop business plan template & feasibility report you can use for FREE .

Businesses that are worth going for are businesses that you are certain people would need your services or products on a regular basis. A business like gift shop falls into this category; you can be certain that there would be occasions of celebration that would warrant a customer to purchase gifts for friends and family members.

One good thing about this type of business is that you don’t need to enroll in a conventional school to learn how to run this type of business; it only requires basic business skills such as customer service, accounting, bargaining, people skills cum networking skills and of course overall business management skills.

If you have decided to start a gift shop business, then you should ensure that you carry out feasibility studies and market survey. Below is a sample gift shop business plan template that can help you to successfully write your own with little or no difficulty.

A Sample Gift Shop Business Plan Template

1. industry overview.

Players in the Gift Shops and Card Stores industry retail a range of gifts, gift wrap, novelty merchandise, souvenirs, greeting cards, party supplies, seasonal and holiday decorations. This industry does not include retailers that operate as used merchandise stores, electronic shopping, mail-order houses and discount retail stores.

If you are close observer of happenings in this industry, you will notice that the Gift Shops and Card Stores industry has displayed signs of contraction as external competition has caused the number of operators to fall over the past five years. On the other hand, industry revenue has continued to rise as consumers have increased their discretionary spending on nonessential items that are predominant in this industry.

Please note that the continued growth of per capita disposable income has also enabled consumers to travel more and purchase items from gift shops and other industry operators. Going forward especially as it relates to projecting for the five years, the industry is anticipated to benefit from rising disposable income levels and tourist activity.

Statistics has it that in the united states alone, the Gift Shops and Card Stores industry generates over $19 billion annually from more than 61,279 bridal shop outlets scattered all around the United States of America. The industry is responsible for the direct employment of over 188,120 people.

Experts project the Gift Shops and Card Stores industry to grow at a 0.2 percent annual rate between 2013 and 2018. American Greetings Corporation and Party City Holdco are the establishments with the lion market share of the industry.

A recent report published by IBISWorld shows that the Gift Shops and Card Stores industry is in the mature stage of its life cycle. The report further revealed that over the 10 years to 2023, industry value added is estimated to increase at an annualized rate of 1.0 percent, whereas US GDP is projected to expand an annualized 2.2 percent during the same period.

This industry is growing at a slightly slower rate than the economy as a whole, but its growth generally mirrors that of the US at large, which is characteristic of a mature industry. Industry revenue is expected to grow relatively consistently over this period however, intensifying competition from alternative retailers will likely mitigate any faster growth.

The market for the gift shop business is also no longer limited to a single customer or to women, especially as women once made up the largest segment of the industry’s market. The market has now expanded to include the corporate client.

The Gift Shops and Card Stores industry has minimal barriers to entry, with low startup capital and no specific licensing requirements. The majority of gift shops operate as a one – outlet business and the capital costs of establishing gift shop outlets are not substantial relative to many other retail industries.

On the other hand, the high level of competition and market saturation in a declining industry can prove challenging to aspiring entrepreneurs who want to start their own gift shop – business. Most players in the industry are small – to medium – establishments that cater to the local community.

If you are contemplating opening a gift shop business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies. The truth is that if you get some key factors wrong before starting out, then you are likely going to struggle to stay afloat.

2. Executive Summary

Dora Wellington™ Gifts & Cards Shop, LLC is a registered gift and card shop business that will be located in one of the busiest market districts in Baton Rouge – Louisiana. We have been able to lease a shop facility along a major road that is big enough to fit into the kind of gift shop that we intend launching.

Dora Wellington™ Gifts & Cards Shop, LLC will be involved in retailing a wide range of gifts, gift wrap, novelty merchandise, souvenirs, greeting cards, party supplies, seasonal and holiday decorations. We will also be involved in helping our clients wrap and deliver their gifts.

We are aware that there are several gift shops all around Baton Rouge – Louisiana, which is why we spent time and resources to conduct thorough feasibility studies and market survey so as to offer much more than our competitors will be offering.

We have delivery service options for our customers, and our outlet has various payment options. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they visit our shop.

Dora Wellington™ Gifts & Cards Shop, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Our plan is to position Dora Wellington™ Gifts & Cards Shop, LLC to become the leading brand in the industry in the whole of Louisiana, and also to be amongst the top 10 gift and card shops in whole of the United States of America within the first 10 years of opening our first gift shop.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are confident that Baton Rouge – Louisiana is the right place to launch our business before spreading to other parts of the United States.

Dora Wellington™ Gifts & Cards Shop, LLC is owned by Isabella Mrs. Dora Wellington. She has the experience, qualification and skill that will help grow the business to profitability within the shortest time frame. Although the business is launching out with just one outlet in Baton Rouge – Louisiana, but there is a plan to open other outlets all around key cities in the United States of America.

3. Our Products and Services

At Dora Wellington™ Gifts & Cards Shop, we have a wide range of gifts and cards, and we will engage in retailing and wholesale distribution to both individual and corporate clients. As part our strategy to create multiple sources of income in line with our core business concept, we will go into franchising and consultancy services.

Our intention of starting Dora Wellington™ Gifts & Cards Shop, LLC is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition. Here are some of our products and services;

• Retailing greeting cards
• Retailing gifts and gift supplies, i.e. gift wrap
• Retailing souvenirs and novelty merchandise
• Retailing party supplies
• Retailing seasonal and holiday decorations
• Kitchenware and home furnishings
• Clothes, jewelry and costumes
• Customized gifts baskets
• Sale of franchise and consultancy services

4. Our Mission and Vision Statement

• To be amongst the top 10 leading gift shops in the United States of America before our 10 th anniversary.
• Our mission is to build a business that will meet the needs of all our customers in the regions / cities where we have our outlets and to sell franchise all across the United States of America.

Our Business Structure

As part of our plan to build a standard gift and card shop in Baton Rouge – Louisiana, we have perfected plans to get it right from the beginning which is why we are going to hire competent and hardworking employees to occupy all the available positions in our organization. Below is the business structure that we will build Dora Wellington™ Gifts & Cards Shop on;

• Chief Executive Officer

Shop Manager

Merchandize Manager

Human Resources and Admin Manager

• Sales and Marketing Officer
• Accountants/Cashiers

Information Technologist

• Drivers/Deliverers
• Customer Service Executives

5. Job Roles and Responsibilities

Chief Executive Officer – CEO (Owner):

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results and developing incentives
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Responsible for overseeing the smooth running of the gift shop
• Part of the team that determines the quantity, types and brands of gifts items to be retailed in our store
• Maps out strategy that will lead to efficiency amongst workers in the shop
• Responsible for training, evaluation and assessment of the entire workforce
• Ensures that the shop meets the expected safety and health standard at all times.
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Oversees the smooth running of the daily office and shop activities.
• Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure that quality goods are purchased
• Responsible for the purchase of goods for the organization
• Responsible for planning sales, monitoring inventory, selecting the merchandise, writing and pricing orders

Sales and Marketing Manager

• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Manages the organization website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manages the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant/Cashier

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Distribution Van Drivers:

• Delivers customer’s orders promptly
• Runs errand for the organization

Client Service Executive

• Responsible for taking orders from clients when they call or email the organization
• Ensures that all contacts with customer (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the shop manager in an effective and timely manner
• Consistently stays abreast of any new information on our products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make inquiries
• Responsible for cleaning the entire shop facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Handles any other duty as assigned by the manager.

6. SWOT Analysis

Due to our drive for excellence, we were able to engage some of the finest business consultants in Baton Rouge – Louisiana to look through our business concept and together we were able to critically examine the prospect of the business to be sure we have what it takes to run a standard gift shop.

In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in our business. Here is a of what we got from the SWOT Analysis conducted for Dora Wellington™ Gifts & Cards Shop, LLC;

Our strength lies in the fact that we have a wide range of gifts and cards that can meet the needs of our customers. Another factor that counts in our advantage is the background of our Chief Executive Office; she has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired which has placed her amongst the top flight professionals in the United States of America.

We are not ignoring the fact that offering consultancy services and running a franchise is definitely going to count as a positive for us.

The fact that we are setting up a gift and cards retailing business in a city with other leading gift and card retail outlets might likely pose a challenge for us in breaking into the already saturated market. In essence our chosen location might be our weakness, but nevertheless, we have plans to launch out with a big bang.

• Opportunities:

The opportunities available to us are unlimited. Loads of people and organizations give out gifts during special periods. Americans and foreigners have begun to travel more, boosting demand for industry products. So also, there are also loads of people who would want to buy our franchise and start their gift shop business on a platter of gold; our platform will be ideal for them to fulfill that goal.

The threat that is likely going to confront us is the fact that we are competing with already established businesses in Baton Rouge – Louisiana and also there are other entrepreneurs that are likely going to launch similar businesses within the location of our business.

Competition from discount retailers will intensify as supercenter and discount store chains expand. Of course, they will compete with us in winning over the available market. Another threat that we are likely going to face, is unfavorable government policies and of course economic downturn.

7. MARKET ANALYSIS

• Market Trends

The Gift Shops & Card Stores industry has risen slowly over the last five years while combatting lackluster consumer spending and changing preferences pattern. The introduction of technology and subsequently online retail store has indeed helped in reshaping the industry.

It is now a common phenomenon for retail outlets to leverage on technology to effectively predict consumer demand patterns and to strategically position their shop to meet their needs; in essence, the use of technology helps retailers to maximize supply chain efficiencies.

The market for the gift and card shop business is also no longer limited to a single customer or to women. The market has now expanded to include the corporate client. As a matter of fact, external factors such as Domestic trips by US residents and Per capita disposable income in the Gift Shops & Card Stores industry impact the overall performance in this industry.

8. Our Target Market

When it comes to gift and card sales and delivery business, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who resides in the location where we intend opening our shops. These are the groups of people we intend marketing our gift items and cards to;

• Corporate Organizations
• Government Officials
• Business People
• Celebrities
• Everyone who resides in our target locations.

Our competitive advantage

Our aim of starting Dora Wellington™ Gifts & Cards Shop, is to build a business that can grow within the first 10 years of establishing it to be listed amongst the top 10 gift shops in the United States of America. With that in mind, we have been able to come up with competitive strategies that will help us compete favorably in the industry.

Another competitive advantage we have is that we have a wide range of gift items and cards that can meet the needs of a wide range of customers. We have state of the art facility and competent workforce that has positioned us to meet the demand of products even if the demand tripled.

Another factor that counts to our advantage is the background of our Chief Executive Office; she has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired. We are not ignoring the fact that offering consultancy services and running a franchise is definitely going to count as a positive for us.

Lastly, we can boast of having attractive product presentation and effective quality control. We are not taking for granted that our excellent customer service culture, highly competitive prices, reliable and easy to use payment options.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Dora Wellington™ Gifts & Cards Shop, is established with the aim of maximizing profits in the United States of America and we are going to go all the way to ensure that we do all it takes to sell a wide range of gift items and cards to a wide range of customers. Dora Wellington™ Gifts & Cards Shop, LLC will generate income by offering the following products and services;

10. Sales Forecast

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough profits from our first month of operation and grow the business beyond Baton Rouge – Louisiana to other states in the U.S.

We have been able to critically examine the Gift Shops & Card Stores industry, we have analyzed our chances in the industry and we were able to come up with the following sales forecast. Below is the sales projection for Dora Wellington™ Gifts & Cards Shop, LLC. It is based on the location of our business and our competitive advantage;

• First Fiscal Year: $250,000
• Second Fiscal Year: $600,000
• Third Fiscal Year: $900,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products and services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location to launch Dora Wellington™ Gifts & Cards Shop and also the types of gifts items and cards to retail, we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market.

We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time and also for our products to favorable compete with other leading gift and card shops in Baton Rouge – Louisiana.

We hired experts who have good understanding of the industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market Baton Rouge – Louisiana. In summary, Dora Wellington™ Gifts & Cards Shop, LLC will adopt the following sales and marketing approach to sell our products;

• Introduce our gift shop by sending introductory letters to residents, corporate organizations and other stakeholders both in Baton Rouge – Louisiana and in other cities in the United States of America
• Open our gift shop with a party so as to capture the attention of residents
• Engage in roadshows in targeted communities from time to time to sell our products
• Advertise our products in community based newspapers, local TV and radio stations
• List our business and products on yellow pages’ ads (local directories)
• Leverage on the internet to promote our gift and card shop brand
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our gift and card shop is a standard one with a wide range of products that can favorably compete with other leading brands in the United States, we will still go ahead to intensify publicity for all our products.

Dora Wellington™ Gifts & Cards Shop, LLC has a long term plan of opening outlets in various locations all around the United States of America and also to sell our franchise which is why we will purposefully build our brand to be well accepted in Baton Rouge – Louisiana before venturing out to other cities in the United States of America.

As a matter of fact, our publicity and advertising strategy is not solely for selling our products but to also effectively communicate our brand. Here are the platforms we intend leveraging on to promote Dora Wellington™ Gifts & Cards Shop, LLC;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like Instagram, Facebook, twitter, et al to promote our brand
• Install our billboards in strategic locations all around major cities in the United States of America
• Engage in roadshows from time to time in targeted communities
• Distribute our fliers and handbills in target areas
• Position our Flexi Banners at strategic positions in the location where we intend getting customers to start patronizing our products.
• Ensure that all our staff members wear our customized clothes, and all our official cars and distribution vans are customized and well branded.

12. Our Pricing Strategy

Generally, the prices for gift items and similar products are relatively affordable hence there is no need to employ any detailed strategy when it comes to pricing.

In view of that, our prices will conform to what is obtainable in the industry but we will ensure that within the first 6 to 12 months, our gift items and cards are sold a little bit below the average prices in the United States of America. We have put in place business strategies that will help us run on low profit margin for a period of 6 months; it is a way of encouraging people to buy into our brand.

• Payment Options

The payment policy adopted by Dora Wellington™ Gifts & Cards Shop, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. Here are the payment options that Dora Wellington™ Gifts & Cards Shop, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer

In view of the above, we have chosen banking platforms that will enable our clients make payment for our gift items without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for gifts purchased.

13. Startup Expenditure (Budget)

When it comes to starting a standard gift shop business, one is expected to spend the bulk of the startup capital on renting a store facility. Aside from that, you are not expected to spend much except for purchasing distribution vans, purchasing commodities, paying your employees and utility bills. These are the key areas where we will spend our startup capital;

• The Total Fee for Registering the Business in Baton Rouge – Louisiana – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
• Marketing promotion expenses for the grand opening of Dora Wellington™ Gifts & Cards Shop, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
• The cost for hiring Business Consultant – $2,500.
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $55,200.
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $50,000
• The cost for Start-up inventory (gifts, gift wrap, novelty merchandise, souvenirs, greeting cards, party supplies and seasonal and holiday decorations et al) – $80,000
• Storage hardware (bins, rack, shelves, food case) – $3,720
• The cost for counter area equipment – $9,500
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase of distribution vans – $20,000
• The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
• The cost of launching a Website – $600
• The cost for our opening party – $10,000
• Miscellaneous – $5,000

We would need an estimate of $250,000 to successfully set up our gift and card shop business in Baton Rouge – Louisiana.

Generating Startup Capital for Dora Wellington™ Gifts & Cards Shop, LLC

Dora Wellington™ Gifts & Cards Shop, LLC is owned and financed by Mrs. Dora Wellington. She has decided to restrict the sourcing of the startup capital to 3 major sources.

• Generate part of the startup capital from personal savings and sell of stocks
• Source for soft loans from family members and friends
• Apply for loan from the bank

N.B: We have been able to generate about $100,000 ( Personal savings $80,000 and soft loan from family members $20,000 ) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Dora Wellington™ Gifts & Cards Shop, LLC is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to retail our gifts a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Dora Wellington™ Gifts & Cards Shop will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of store facility and re – construction of the store facility: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Packaging and Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party/launching party planning: In Progress
• Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
• Purchase of delivery vans: Completed

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How to Start a Profitable Souvenir Shop Business [11 Steps]

By Nick Cotter Updated Feb 02, 2024

Business Steps:

1. perform market analysis., 2. draft a souvenir shop business plan., 3. develop a souvenir shop brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for souvenir shop., 6. open a business bank account and secure funding as needed., 7. set pricing for souvenir shop services., 8. acquire souvenir shop equipment and supplies., 9. obtain business insurance for souvenir shop, if required., 10. begin marketing your souvenir shop services., 11. expand your souvenir shop business..

Starting a souvenir shop business requires a thorough understanding of the market to identify potential opportunities and challenges. A comprehensive market analysis will help you gauge customer demand, understand competitive dynamics, and tailor your product offerings to what tourists are seeking. Here are key steps to take:

• Analyze the local tourism industry to determine peak seasons, popular attractions, and tourist demographics.
• Research competitors in the area, noting their product range, pricing, and marketing strategies.
• Survey potential customers to learn about their preferences and the types of souvenirs they are interested in purchasing.
• Identify trends in the souvenir market, such as eco-friendly products or locally made items, to differentiate your offerings.
• Examine suppliers and potential partnerships with local artisans or producers for unique products.
• Evaluate the economic climate to forecast future tourism growth and its impact on your business.

Are souvenir shop businesses profitable?

Yes, souvenir shop businesses can be profitable if run correctly. It is important for owners to set competitive prices, hold sales and promotions, offer unique products, and keep up with trends in order to increase profitability. Additionally, having a strong online presence and offering delivery services can also help generate more sales.

Starting a souvenir shop can be an exciting venture that taps into the tourism market and celebrates local culture. A well-crafted business plan is essential for outlining your vision, setting goals, and planning for success. Here's a guide to what your business plan should cover:

• Executive Summary: Summarize your business concept, the products you'll sell, the target market, and your unique selling proposition.
• Market Analysis: Research the local market, understand the competition, and identify your target customers' preferences and buying habits.
• Product Line: Detail the types of souvenirs and products you plan to offer and how they will appeal to your target demographic.
• Marketing and Sales Strategy: Outline how you will attract and retain customers, including pricing, promotions, advertising, and sales channels.
• Operational Plan: Describe the day-to-day operations, including location, staffing, suppliers, and inventory management.
• Financial Plan: Present a detailed budget, including start-up costs, projected income, expenses, and profitability analysis.
• Management and Organization: Define your business structure, management team, and staffing requirements.

How does a souvenir shop business make money?

A souvenir shop business typically makes money by selling novelty items, such as t-shirts, magnets and postcards, to locals and tourists. Additionally, souvenir shops often offer items such as mugs and keychains that are customized with the logo or name of the city or town they are located in. These shops can also leverage their locations to market goods from local artisans and craftsmen. As an example, a spice business could target both local chefs looking for unique flavors for their dishes as well as tourists who are looking for regional spices to take home.

Creating a unique and memorable brand for your souvenir shop is crucial in standing out in the market and attracting tourists and customers. A strong brand will communicate the essence of your store's identity, its values, and the type of experience customers can expect. Follow these steps to develop a captivating brand for your souvenir shop:

• Define your brand identity: Determine what makes your souvenir shop unique. Consider the themes, local culture, and experiences that you want to highlight through your products and store atmosphere.
• Choose a catchy name: Your shop's name should be memorable, easy to pronounce, and reflect the essence of your store. It should evoke the local charm and give a hint of what customers can find inside.
• Create a logo and color scheme: Design a logo that is simple, recognizable, and encapsulates your brand identity. Select a color scheme that complements your logo and creates a cohesive visual experience throughout your store.
• Develop a brand message: Craft a compelling message that resonates with your target audience. It should tell a story about your shop's origin, purpose, and the value it brings to customers.
• Consistency is key: Ensure that your brand identity is consistently reflected in all aspects of your business, from in-store design to packaging, online presence, and marketing materials.

How to come up with a name for your souvenir shop business?

When coming up with a name for your souvenir shop business, it's important to select a name that reflects the feel and purpose of the store. Brainstorming can help you come up with ideas. Start by writing down words that best describe your business, such as destination, memories, explore, and adventure. Combine these words with geographic or cultural references to give customers an idea of what to expect when they visit your shop. Additionally, you should consider keeping the name concise and easy to remember – something people can easily find when searching online or in their area. Taking all of this into account can help you come up with a creative and memorable name for your souvenir shop business.

Once you've crafted your business plan and secured financing, the next crucial step is formalizing your business registration. This step legitimizes your souvenir shop as a legal entity and is essential for compliance with tax laws and regulations. Follow these guidelines to ensure your registration is completed accurately:

• Choose a business structure (e.g., sole proprietorship, partnership, LLC, corporation) that aligns with your needs and provides the appropriate level of personal liability protection and tax benefits.
• Register your business name with the relevant state authority, ensuring it's unique and not already in use. This may also involve filing a DBA (Doing Business As) if your trading name is different from your registered business name.
• Obtain an Employer Identification Number (EIN) from the IRS for tax purposes, especially if you plan on hiring employees.
• Apply for the necessary business licenses and permits from your local and state government, which may include a general business license, a resale permit, and a signage permit.
• Understand and comply with sales tax regulations by registering with your state's tax department to collect and remit sales tax from customers.

Resources to help get you started:

Explore top resources designed to assist souvenir shop owners in understanding market dynamics, enhancing operational efficiencies, and formulating growth strategies:

• The Gift Shop Magazine: Offers insights into product trends, store management, and marketing strategies for gift and souvenir shops. Visit site .
• National Retail Federation (NRF): Provides industry reports, retail insights, and consumer trends that impact souvenir shops. Visit site .
• Retail TouchPoints: Delivers news, strategies, and resources on enhancing customer experience and operational success. Visit site .
• Gifts & Decorative Accessories: Features market research, product trends, and business strategies for the giftware industry. Visit site .

Starting a souvenir shop requires complying with various regulations to ensure your business operates legally. Acquiring the necessary licenses and permits is essential to avoid any legal issues and fines. Follow these guidelines to ensure you have all the required documentation in place:

• Business License: Apply for a general business license with your city or county clerk's office to legally operate in your locality.
• Sellers Permit: Obtain a seller's permit or resale certificate to sell merchandise and collect sales tax through your state's Department of Revenue or Taxation.
• Sign Permit: If you plan to put up any signage for your shop, check local zoning laws and acquire a sign permit if necessary.
• Building and Zoning Permits: If you are constructing a new building or altering an existing space, make sure to get the proper building permits and ensure your shop complies with zoning laws.
• Health and Safety Permits: If your shop includes a food section or any activity that involves health regulations, you may need to pass a health inspection and get relevant permits.
• Special State-Issued Business Licenses: Depending on your location, you might need additional state-specific licenses, especially if you are dealing with regulated items like alcohol or tobacco.

What licenses and permits are needed to run a souvenir shop business?

For most souvenir shop businesses, you will likely need to obtain a business license and a vendor's license. Depending on the location of your business, you may also need to apply for local zoning permits or any other type of specific permit that your state requires. Additionally, if you sell food items, you may need to obtain a permit from the health department.

Once you've laid the groundwork for your souvenir shop, it's essential to separate your personal finances from your business dealings. Opening a business bank account will streamline your financial management, and securing funding is pivotal for covering startup costs and maintaining cash flow. Follow these steps to achieve financial readiness:

• Research banks and choose one that offers business accounts with low fees, easy access, and good customer service. Consider banks that provide additional support to small businesses.
• Gather the required documentation, which usually includes your business registration papers, EIN (Employer Identification Number), and personal identification.
• Apply for a business bank account, either online or in person, using the documents you've gathered.
• Explore funding options such as small business loans, lines of credit, investor capital, crowdfunding, or personal savings to ensure you have enough capital to launch and sustain your business.
• Consider applying for a business credit card to help track business expenses and potentially earn rewards.
• Regularly review your business's financial health and adjust your funding strategies as necessary to support growth and stability.

Setting the right prices for your souvenir shop is crucial to attract customers and ensure a profitable business. It involves balancing the cost of goods, operating expenses, and market demand. Here are some key points to consider when pricing your souvenir shop services:

• Cost-Plus Pricing: Calculate your total cost for each item (including purchase, shipping, and handling) and add a markup percentage to ensure a profit.
• Competitive Analysis: Research prices of similar souvenir shops in your area to ensure your prices are in line with the market.
• Perceived Value: Consider the uniqueness and appeal of your souvenirs. Unique, high-quality items can often command higher prices.
• Volume Discounts: Offer discounts on bulk purchases to encourage larger sales while still maintaining a profit margin.
• Seasonal Adjustments: Adjust prices for peak tourist seasons to capitalize on increased demand, but be sure to remain competitive.
• Psychological Pricing: Use pricing strategies such as .99 endings to make prices seem lower than they actually are.
• Dynamic Pricing: Use sales data and inventory levels to adjust prices dynamically to maximize profits and reduce excess stock.

What does it cost to start a souvenir shop business?

Initiating a souvenir shop business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $20500 for launching such an business. Please note, not all of these costs may be necessary to start up your souvenir shop business.

Starting a souvenir shop requires careful selection of unique equipment and supplies to effectively showcase your products and provide a memorable shopping experience. From display cases to inventory management software, having the right tools is essential for your store's operation. Here's a list to guide you through the acquisition process:

• Shelving and Display Units: Choose versatile shelving systems and attractive display units that highlight the uniqueness of your souvenirs.
• Point of Sale System: Invest in a reliable POS system that can handle sales, inventory tracking, and provide valuable sales reports.
• Price Tagging Supplies: Stock up on price tags, labelers, and markers to clearly mark the prices on your merchandise.
• Shopping Bags and Packaging: Purchase branded shopping bags and gift wrapping materials to enhance the customer experience.
• Security System: Install a security system with cameras and anti-theft devices to protect your merchandise.
• Office Supplies: Keep a stock of office essentials like pens, paper, and calculators for daily operations.
• Cleaning Supplies: Maintain a clean and inviting shop environment with the necessary cleaning tools and products.
• Decorative Elements: Add local flair and thematic decorations that resonate with the location to attract tourists.

List of software, tools and supplies needed to start a souvenir shop business:

• Computer (around $500)
• Printer ($100)
• Point-of-Sale system ($150)
• Cash Register ($200)
• Inventory Management System ($50)
• Credit Card Machine ($50)
• Shipping Supplies (around $100)
• Display Cases (around $200)
• Advertising Supplies (around $100)
• Website and Domain Name ($20/monthly subscription fee)

Protecting your souvenir shop with the proper insurance is a crucial step in safeguarding your investment and ensuring the smooth operation of your business. Different types of insurance will cover various aspects of your business, from property damage to liability concerns. Below are the key actions to take when obtaining business insurance:

• Research different types of insurance policies, such as general liability insurance, product liability insurance, property insurance, business interruption insurance, and workers' compensation, to determine which ones are applicable to your souvenir shop.
• Consult with an insurance broker or agent who specializes in commercial insurance. They can help tailor a policy to the specific needs of your business and provide comparative quotes from multiple insurers.
• Understand the minimum insurance requirements for your area and industry by checking with local regulatory agencies or industry associations.
• Consider the value of your inventory, equipment, and property when determining coverage levels to ensure that you are adequately covered in the event of theft, damage, or other losses.
• Review and compare insurance quotes carefully, paying close attention to coverage limits, deductibles, premiums, and exclusions before making a decision.
• Once you've chosen an insurance provider and policy, make sure to keep your insurance documents organized and accessible, and review your coverage annually or whenever significant changes occur in your business.

Successfully marketing your souvenir shop is crucial for attracting tourists and locals alike. An effective strategy will help you stand out from the competition and create a memorable brand. Below are some ways to begin marketing your souvenir shop services:

• Develop a strong brand identity by creating a memorable logo, signage, and consistent theming across all marketing materials to make your shop easily recognizable.
• Launch a user-friendly website with an online store to reach customers who prefer shopping online, and use search engine optimization (SEO) to improve visibility.
• Engage with customers on social media platforms like Instagram, Facebook, and Twitter by posting attractive photos of your products, store events, and special offers.
• Partner with local businesses and tourist attractions to offer co-branded merchandise or discounts for mutual promotion.
• Create a Google My Business listing to improve local search visibility and allow customers to find your shop's location, hours, and contact information.
• Invest in targeted advertising campaigns in travel guides, local maps, and brochures found in hotels, airports, and tourist information centers.
• Encourage word-of-mouth by providing excellent customer service and creating a referral program that rewards customers for bringing friends and family to your shop.

Once your souvenir shop has established a steady flow of customers and a solid reputation, it's time to think about growth. Expanding your business can take various forms, from opening new locations to diversifying your product range. Here are some actionable steps to consider in your expansion journey:

• Assess the market demand for a new location before investing, and choose a spot with high foot traffic that complements your existing shop.
• Consider e-commerce as a cost-effective way to reach a global audience by setting up an online store.
• Diversify your product offerings to include exclusive items or collaborate with local artists for unique, one-of-a-kind souvenirs.
• Investigate franchise opportunities if your brand is strong enough, allowing others to invest in opening new shops under your banner.
• Look into bulk sales or corporate gifting options to tap into a new customer base with different needs.
• Always maintain the quality and customer service that made your original shop a success, ensuring consistency across all business extensions.

• Sample Business Plans
• Retail, Consumers & E-commerce

Gift Shop Business Plan

If you are planning to start a new gift shop, the first thing you will need is a business plan.

Before you start writing your business plan for your new gift shop business, spend as much time as you can reading through some examples of retail and online store business plans .

Reading sample business plans will give you a good idea of what you’re aiming for, and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample gift shop business plan for you to get a good idea about what a perfect business plan should look like and what details you will need to include in your stunning business plan.

Gift Shop Business Plan Outline

This is the standard business plan outline which will cover all important sections that you should include in your business plan.

• Vision Statement
• Mission Statement
• Keys to Success
• The Business
• 3 Year profit forecast
• The Purpose of starting a business
• Company Ownership
• Startup cost
• Funding Required
• Printing Products
• Customized Apparel
• Home Accessories
• Personal Care Accents
• Pet Products
• Specialty Gifts
• Plastic Gift Cards
• Customization Services
• V.I.P. Customer Appreciation
• Corporate Gift Program
• Market Trends
• Target Market
• Marketing Share
• Young & Adults
• Senior Citizens
• Children & Teens
• Market Analysis
• Product Pricing
• Key Competitive Strategies
• Key Competitive Weaknesses
• Pricing Strategy
• Promotion Strategy
• Marketing Channels
• Sales Yearly
• Sales Forecast
• Detailed Sales Forecast
• Personnel plan
• Average Salary of Employees
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

Say goodbye to boring templates

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After getting started with upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your gift shop business plan pdf and doc file . It’s the fastest and easiest way to start writing your business plan.

Download a sample gift shop business plan

Need help writing your business plan from scratch? Here you go;  download our gift shop business plan pdf  to start.

It’s a modern business plan template specifically designed for your gift shop business. Use the example business plan as a guide for writing your own.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Start a Souvenir Shop

Revolutionizing Tourism: Crafting Memories with Your Souvenir Shop

SOUVENIR SHOP

Related business ideas, discover your perfect domain, souvenir shop mini business plan, business idea: souvenir shop, expected percent margins:, earnings expectations:, actions to hit those numbers:, inventory management:, marketing and customer acquisition:, sales and customer experience:, cost control:, business operations:, not what you had in mind here are more ideas, grab your business website name, step 1: determine if the business is right for you, breakdown of startup expenses, breakdown of ongoing expenses, examples of ways to make money, step 2: name the business, step 3: choose a location, finding a location, step 4: obtain licenses and permits, how to obtain licenses and permits, cost of licenses and permits, timeframe for obtaining licenses and permits, step 5: purchase supplies, where to purchase supplies, cost of supplies, tips for purchasing supplies, step 6: market the business, tips for advertising, step 7: set up accounting, step 8: hire employees, training employees, establishing policies and procedures, setting employee goals, step 9: open the business, tips on promoting the business, explore more categories, take the next steps.

How to Start a Souvenir Shop

As the owner of a souvenir shop, you’ll stock your retail store, cart or kiosk with inventory of interest to tourists. Your offerings will reflect the demographics and socioeconomic strata of the market. For instance, if you’re at a vacation destination that draws young families, you might stock novelty trinkets, toys, t-shirts, candy, and gum. However, if you’ll attract more sophisticated travelers, you might sell pricier jewelry with a local slant -- ie, designed with stones or gems found in the region.

Learn how to start your own Souvenir Shop and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

Start a souvenir shop by following these 10 steps:

• Plan your Souvenir Shop
• Form your Souvenir Shop into a Legal Entity
• Register your Souvenir Shop for Taxes
• Open a Business Bank Account & Credit Card
• Set up Accounting for your Souvenir Shop
• Get the Necessary Permits & Licenses for your Souvenir Shop
• Get Souvenir Shop Insurance
• Define your Souvenir Shop Brand
• Create your Souvenir Shop Website
• Set up your Business Phone System

We have put together this simple guide to starting your souvenir shop. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

• What are the startup and ongoing costs?
• Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. 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 Souvenir Shop Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• Social media platforms
• Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your souvenir shop?

Business name generator, what are the costs involved in opening a souvenir shop.

That will be highly variable depending on your location, size of business, clientele and the merchandise you carry. But here are some cost breakdowns for illustration purposes. Lease -- $5,000 to $20,000 or more. This is highly variable because there are so many different factors involved. First, location. It will certainly cost you more to rent a store on Time Square than outside of Cedar Point in Ohio. Also, you might rent anything from a small kiosk at $800 a month for summer months only, to a year-round thousand-square-foot shop. Utilities -- Zero to $6,000 a year or more. If you go the kiosk route, you might pay nothing. But a year-round store could involve air conditioning in the summer months and heating in the winter. Inventory -- A minimum of $4,000, generally. It really depends on what you’re selling.

Staffing -- $20,000, plus. This includes the bare minimum you have on hand to support yourself as you get your business started. It might be a lower amount if you’re only open seasonally. This estimate includes no additional help. You’re likely to start alone, and add staff as the situation warrants.

Computer hardware and software and cash register -- $2,500 or more. This includes the retail management software that will enable you to manage sales, inventory, invoicing, cash flow, and other critical tracking needs.

Promotion and marketing -- $2,000, est. You won’t need much ongoing advertising and marketing if you’ve chosen your location wisely. That’s because the attraction itself, whether it’s an amusement part, a touristy part of town, a museum, or seaside destination, will draw foot traffic. But you’ll want to hire a graphic designer to design your logo, website, and signage. Decorating, remodeling and signage -- $500 to $6,000 and up. It could range from a decorative umbrella with your logo to a full store makeover. But it’s important to decorate to draw the attention of the audience you want.

Licensing and permits -- $200, est. This cost could be much higher in certain exclusively priced locations, such as Time Square. Consult the Small Business Association (SBA) website for valuable information on the licenses and permits you might need in your area.

This Inc. Magazine article gives a good breakdown of opening costs for a small retail store.

What are the ongoing expenses for a souvenir shop?

Your ongoing costs will include staffing, inventory, rent and utilities. This can be a pricey tally depending on your location, clientele, and type of business, and it reinforces the need to sell as briskly as possible.

Who is the target market?

If you’ve anchored your business in the right location and stocked your store with appropriate inventory, your customers will find merchandise they’ll want to remember their travels by. Vacationers are primed to spend premium rates while away from home because they consider it to be part of the experience. They’re sentimental impulse buyers looking for souvenirs that will connect them with their travels. Or perhaps they’re looking for small gifts for family members, friends, or co-workers who didn’t come along. Either way, they’re motivated to spend.

How does a souvenir shop make money?

Your sole route to profitability is to sell merchandise to enough people at costs that cover your rent, staffing, inventory and miscellaneous costs and yield an appropriate profit. You’ll have an advantage over conventional retailers in that you can stock your location with items they wouldn’t have necessarily bought under any other circumstance. For instance, an inexpensive keychain with the name of the travel destination is of value only at that point in time. Similarly, you won’t compete with the Internet, since the purchase is location-inspired.

That will depend on your merchandise. But you can charge higher markups than might be possible elsewhere since most of the items you carry can only be easily found in your location. Once a family of customers goes home to Germany, where are they going to find a My Heart’s in San Francisco t-shirt? And why would they buy it anytime except during their San Francisco vacation?

How much profit can a souvenir shop make?

According to figures that appeared in the Small Business Development Center Network (SBDC) National Information Clearinghouse, “Seventy-eight percent (78%) of America’s gift shops employ only one to four employees and 75% have less than $200,000 in annual sales.” But your own sales figures and profits will be determined primarily by your mix of merchandise and location.

How can you make your business more profitable?

Consider adding food or beverages to your product mix. Just remember, you must first obtain licensing from your local health department.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your souvenir shop is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate a souvenir shop. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

Certificate of Occupancy

A souvenir shop is generally run out of a storefront. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO).  A CO confirms that all building codes, zoning laws and government regulations have been met.

• If you plan to lease a location :
• It is generally the landlord’s responsibility to obtain a CO.
• Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a souvenir shop.
• After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening, it is recommended to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.
• If you plan to purchase or build a location :
• You will be responsible for obtaining a valid CO from a local government authority.
• Review all building codes and zoning requirements for your business’ location to ensure your souvenir shop will be in compliance and able to obtain a CO.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your Souvenir Shop needs and how much it will cost you by reading our guide Business Insurance for Souvenir Shop.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a souvenir shop

Your store name and signage are important since your destination might be one of many in the area. Also, try to stand out by the originality of your displays. If you’re only selling the same t-shirts and mugs as everyone else on your boardwalk, the items will become a commodity and the sale will go to the first store in line or whoever has the lowest price.

How to keep customers coming back

Most of your customers will be new, impulsive buyers. So customer retention won’t be an important consideration. However, be sure to hand out business cards and fliers, and let your customers know that they can order your merchandise online if they’d like.

As for those first-time shoppers, it’s your inviting displays and personality that will turn them into buyers. Do you have the ability to dress up a store and strike up instant friendships without pressuring shoppers?

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

• All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
• Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
• Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

Is this Business Right For You?

You can succeed if you know your market. You must be able to match inventory with the needs of vacationers and at an affordable price point.

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at a souvenir shop?

Your typical workday could consist of a range of activities, including the following:

• Opening and preparing your location for customer traffic
• Scheduling and supervising staff, if you have any
• Waiting on customers and helping them find appropriate souvenirs
• Handling vendors, arranging credit relationships, and ordering merchandise
• Keeping your store clean and merchandise appealingly displayed
• Networking with other sellers in your area, so they keep you in mind if customers ask for merchandise they don’t carry -- and you’ll do the same for your neighboring sellers
• Staying in contact with landlords, local officials, and others who can impact your business operation
• Paying bills, maintaining financial records, and managing cash flow

What are some skills and experiences that will help you build a successful souvenir shop?

It’s incredibly important to start with a realistic business plan. This valuable start-up tool will help you identify your customer profile and stock up on merchandise that will sell. You must be able to accurately track sales to unveil trends and see what’s selling and what’s not. And finally, you should have a strong sales instinct, to turn shoppers into buyers.

What is the growth potential for a souvenir shop?

You’ll have fewer worries when the economy is humming and people are traveling (and spending). However, people vacation even in bad times, though they’ll stick closer to home and spend less on souvenirs. You can respond to the realities of the marketplace by adjusting your inventory to sell less pricey goods when budgets are tight.

TRUiC's YouTube Channel

For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

What are some insider tips for jump starting a souvenir shop?

Find multiple sources for the inventory you want to carry. You can find most of that online, such as this wholesale site . Also consider attending gift fairs such as NY Now , which attracts numerous wholesale product exhibitors and retail buyers.

Unless you have a successful track record in business, it will likely be difficult to get bank loans. That might mean that you rely on savings, credit cards, or small loans from friends and family. With that in mind, it’s important that you try to earn credit with vendors and have strategies to turn over your inventory quickly.

How and when to build a team

If you’re starting your shop on a shoestring budget, you might try to go it alone. However, you’ll quickly find that the long hours and multiple responsibilities (hopefully including the long customer lines at the cash register) mean you need help. You can usually start by finding part-time help at or near minimum wage.

Useful Links

Industry opportunities.

• Gift and Home Trade Association
• Souvenir Homesale Distributors Association

Real World Examples

• Hollywood Megastore
• Memories of New York

Further Reading

• Tips for Opening a Souvenir Shop
• Starting a Souvenir Shop
• Find more  Business Ideas  perfect for Small Towns!

Have a Question? Leave a Comment!

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Gift Novelty Souvenir Sample Business Plan

Related Topics

Hardware retail franchise sample business plan, retail discount store sample business plan.

Click here to view this full business plan

Gift Novelty Souvenir Business Plan

Executive summary.

Yeti Card & Gifts (Yeti) is an established retail business that offers a wide range of cards and gifts. Yeti’s motto is “Fun, Functional, & Funky, that’s Yeti.” Yeti opened two years ago as a retail gift store specializing in Asian gifts and home decor. Yeti quickly out-grew its original space and is now located in the Wigman Hospital/Physicians & Surgeons South Building, open Monday through Saturday 10 am – 6 pm. Yeti is currently finishing tenant improvements on their second location, a space in University Heights. The grand opening is slated for July 4th.

The Market Yeti has been successful in doing something that no other retail card/gift store has been able to do, successfully appeal to two distinct target market segments. Yeti’s first target segment is university students. This segment is identified by their younger age and higher disposable income relative to their household income. For many students, the years at university is the first time they are living away from home and away from their parent’s often watchful and restrictive eyes. This means that students like to use their disposable income to its full potential, sometimes (unfortunately for them) beyond their financial means. There are over 38,833 potential customers in this market segment.

The second distinct segment that Yeti has been successful in appealing to is the university faculty and staff, Wigman Hospital staff, and the greater Cleveland Heights/University Heights community. This segment is an older, more mature market relative. They are looking for a safe and friendly atmosphere that provides a sense of nostalgia mixed with youthful excitement. This segment has over 191,590 potential customers. Competitive Edge Yeti’s competitive edge is their ability to effectively serve both market segments at the same time, a feat that no other gift/card shop has been able to do. Yeti has accomplished this by leveraging two competitive advantages. The first element is a wide product selection that appeals to both target markets. Yeti’s other motto, “Risque not Raunchy” captures this idea well. While some of the products come close to pushing the limits of good taste, nothing is offensive or outrageously obscene. This creates an atmosphere that has an edge, but one in which anyone would feel comfortable. This wide product span helps allow Yeti to serve two distinct sets of customers. A wide product selection is not inherently enough on its own to serve two customer segments however. The second element of their competitive edge is the high level of customer service that supports the broad product selection. The store provides outstanding service to customers who feel like they are truly welcome and enjoy the entire shopping experience. All of the Yeti employees are trained to create a helpful, gracious, welcoming experience for all customers. The sales staff recognize that it is their job to provide the customer with whatever type of assistance they may need. The customer will leave the store feeling that Yeti exists to cater to their individual needs.

Having been open now for almost two years, Yeti Cards & Gifts has proven that they have been successful in meeting the needs of two distinct customer segments. The Yeti concept is being led by the husband and wife team of Dan and Ishada Gordon, both of whom bring a wealth of experience and skills to the company. Yeti is currently preparing for the grand opening of their second location and its overall growth looks quite promising. Sales forecasts indicate revenue of $169,000 for Year 3 and $180,000 for Year 4 with net profit of 5.96% and 7.59% respectively.

1.1 Mission

Yeti Cards & Gifts’ goal is to provide new and exciting products in an environment that is fun and friendly for customer and staff alike. Customer service is our #1 priority.

“Fun, Functional & Funky, that’s Yeti.”

1.2 Keys to Success

The keys to success are:

• Offering items of a high quality-value relationship which are not available everywhere. This is essential for maintaining the niche market sectors mentioned in the Executive Summary.
• Advertising and promoting in areas that our target customer base will learn about our store.
• Continuously reviewing our inventory and sales and adjusting our inventory levels accordingly.

1.3 Objectives

Yeti has two objectives for the organization. The objectives are lofty, yet achievable. By developing and tracking progress toward the goals, the organization will push everyone to perform their best.

• Open a second store in the University Heights community, increasing visibility and sales potential.
• Open a third store in Year 4.

Company Summary

Yeti Card & Gifts is a retail gift store specializing in cards, health and beauty products, novelty, candy, beverages, and Japanese products. Yeti currently has two locations, their current store located at the Wigman Hospital/Physician & Surgeons South Building, and a University Heights community store (opening soon) in the Madison Plaza in-between existing tenants Starbucks and Noah’s Bagels.

2.1 Company Ownership

Yeti Cards & Gifts is a single member Ohio registered L.L.C. owned wholly by Dan Gordon.

2.2 Company History

Yeti was originally founded two years ago. The popularity of Yeti was quickly apparent and the business out-grew the location. The business soon moved into the Wigman Hospital/Physicians & Surgeons South Building to take advantage of the 1,144 square foot highly visible retail space. The Wigman location was chosen to leverage its high density of people. Wigman Hospital is Cuyahoga County’s largest employer. On the east side of Yeti is The Case Western Reserve, the state’s largest private university with over 20,933 students, faculty, and employee. The move to the Wigman building was also strategically timed to fill the vacancy of Jabberwocky Cards & Gifts which had just closed their doors.

Yeti is currently in the tenant improvement stage of opening their second store in University Heights. This 800 square foot store is located in the Madison Plaza in-between Starbucks and Noah’s Bagel. This location was chosen because of the high traffic counts (1,800) and the close proximity to two nationally known tenants.

Yeti carries a wide range of products chosen to be aligned with the private motto of “Risque, not Raunchy.” Yeti’s products can be grouped into five main categories: cards, health and beauty, novelty, candy and beverages, and Japanese products. The following list shows examples of products within their respective categories:

Cards (vendors include: Winking Moon Press, Tetter Saw Cards, Mik Wright, Clayboys, Mojo Ryzen, Image Connection, Unusual Cards, Cara Scissoria, Shag/Roger La Borde, Paper Troupe, Palm Breeze, Smart Alex, and Classico San Francisco)

• Birthday (boy, girl, romantic)
• General humor
• Missing you
• Encouragement

Health and Beauty (vendors include: Blue Q, Fridge Fun, San-X, Tsukineko, T-n-T Candles)

• Body wash/detergent
• Moist towelettes
• Moisturizer
• Bubble bath
• Body powder
• Glitter ball/lotion
• Compact mirror
• Foot/hand/body cream
• Large & small tampon case
• Air freshener
• Temporary body tattoos

Novelty (vendors include: Accoutrements, Hobbs & Dobbs, San-X, Lantor, Dark Horse, Blue Q, O.R.E., Three by Three, Lucy Lu, Hot Properties, Fridge Fun)

• Picture frames
• Coffee mugs
• String lights
• Action figures
• Antenna toppers
• Toothpick/toothbrush holders
• Mist makers
• Toilet seats
• Clothes hampers
• Whoopee cushions
• Squirt guns

Candy and Beverages (vendors include: Garvey, Hobbs & Dobbs, Golden Pacific, JFC Trading)

• Hello Kitty Hi-Chew & Jelly candy
• Gummi Bears/Army Guys/Hamburgers/French Fries/Donuts
• Now & Later
• Bottle caps
• Jolly Rancher
• Sugar Daddy
• Tangy Taffy
• Sweet Tarts
• Shock Tarts
• Ducle de Leche
• Soft drinks
• Suntory-CC Lemon
• Natchan (honey lemon, apple, grape, fruit punch flavors)
• Woolong tea
• Asahi cold asian tea drinks
• Kirin cold tea drinks (milk tea, lemon tea)
• Milk, coffee
• Otsuka Pocari Sweat
• Sokenbi-cha
• JT peach water
• Sapporo fruit & milk
• Cream melon soda
• Caffe latte
• Chinese tea

Japanese products (vendors include: San-X, Masudamasu, Enadi, Kitamura, Tokyo-Inn, Etoile Kaito, Okutani)

• Movie merchandise
• Cell phone accessories
• Zipper pulls
• Animation fun packs

Market Analysis Summary

Yeti has identified two distinct market segments for each of the two different stores. For the Cleveland Heights location there is the Case Western Reserve University students and the Wigman Hospital/Cleveland Heights community. For the University Heights location there is the John Carroll University students and the local community.

Age is a significant determinant in differentiating between the different segments. The student segments are generally of a lower age than the surrounding community.

4.1 Market Segmentation

Cleveland Heights Store Case Western Reserve community 20,044 students total. Largest private university in Ohio.

• Female students, 53.6% of student population (10,747)
• This group makes the most “lifestyle” purchases. They are either buying for themselves to give their living space a personal touch, or buying items as a gift for a friend or relative.
• Male students, 46.4% of student population (9,297)
• Male students are known for their infrequent shopping habits. They make occasional purchases. These occasional purchasers will need to be converted into impulse buyers. This can be accomplished by offering more items that appeal to their sense of independence.
• Case Western Reserve Univ. faculty (889) and employees
• This segment makes less frequent purchases than the students

Wigman Hospital community/Cleveland Heights community Wigman Hospital is the county’s largest employer. Administrative offices have recently been moved to this location, further consolidating the hospital into a dense employer.

• Wigman Hospital community. Total population 2,700.
• Higher income levels than students
• Their work site is in very close proximity to Yeti, less than a block.
• Cleveland Heights community. Total population 140,550. Ages:
• 15-19: 11,585 (8.4%)
• 20-24: 17,390 (12.6%)
• 25-34: 20,591 (14.9%)
• 35-44: 18,656 (13.5%)
• 45-54: 20,184 (14.6%)
• 55-59: 5,864 (4.3%)

University Heights Store

John Carroll University community 18,789 students total

• Female students, 47.6% (8,937)
• This group makes the most “lifestyle” purchases. They are either buying for themselves to give their living space a personal touch, or buying items for a friend or relative to give as a gift.
• Males students, 52.4%, (9,852)
• John Carroll Univ. faculty (830) and employees
• This segment is likely to make fewer purchases than students

University Heights community. Total population 51,040. Ages:

• 15-19: 5,662 (11.5%)
• 20-24: 9,896 (20.1%)
• 25-34: 7,317 (14.8%)
• 35-44: 5,991 (12.1%)
• 45-54: 5,570 (11.3%)
• 55-59:1,603 (3.3%)

4.2 Target Market Segment Strategy

The market segments were chosen for two specific reasons, location/proximity and customer demographics, specifically age:

Location/Proximity In the case of both the Cleveland Heights and University Heights stores, the location is quite convenient to both the students and the surrounding communities. As our days become busier and busier, with less and less free time, we tend to choose stores that are the most convenient. The more convenient the location, the more free time that we have for ourselves.

Cleveland Heights. The store is within several blocks of a large university campus. Students are continually walking off campus, looking for food, shopping, and diversions from school, all convenient enough so that they can easily get back on campus for the next class. For the Wigman Hospital community, the largest single employer in Cuyahoga County, Yeti is located below their offices. Many people can just walk downstairs to the ground floor, and at most they may have to walk a block to get to Yeti. Customers who need to do a bit of shopping on their break or before they leave for home are able to get to Yeti within five minutes. University Heights. Again, location is key in University Heights. The store is also only a few blocks from the large campus making it quite accessible to students, faculty, and campus employees. Yeti was able to secure a desired location within Madison Plaza, one of the premier shopping areas. The fact that Yeti is situated next to Starbucks is significant. Starbucks is nationally known for their real estate prowess, in addition to their marketing. Starbucks is very good at choosing good retail locations for their stores, a prime reason that they have closed so few poor performing stores in their history. On the other side of Yeti is another national retail tenant, Noah’s Bagel. Being surrounded by two national tenants, one of them being the mighty Starbucks is quite material. Additionally, this retail space has customer daily walk-by traffic of 1,800, an impressive number.

Customer Demographics University communities, both Case and John Carroll. While students do not have the highest household income, since the majority of their time is spent in school instead of working, they have a very high rate of disposable income. This can be explained by two reasons. First, when students enter university, this is often the first time that they are no longer under the watchful eye of their parents, who have controlled or affected the purchasing behavior and lifestyles of their offspring. For many of the students, they suddenly have more freedom in the lives and how they spend their money.

A second explanation of this phenomenon is that students tend to spend money in a short-sighted manner. The overwhelming majority of students receive financial aid and it is uncommon for all of the money from financial aid to be spent solely on books and tuition. Frequently a good portion becomes their disposable income. Many students take the viewpoint that if they are going to be taking on debt to complete school, then a little more debt, which provides them ample disposable income, is OK, as they will eventually pay it off years down the road when they are making good money. These two explanations offer insight into why students, those with low household incomes have high levels of disposable income. Yeti recognizes this reality and caters to these students with products that appeal to them.

Surrounding communities, both Cleveland Heights and University Heights. The members of the community population, older than the university students, want a safe and friendly atmosphere where they can enjoy a sense of nostalgia mixed with youthful excitement. The problem with most card and gift shops is their inability to cater to a wide cross section of the population. They are either too hip or trendy and turn off the more mature crowd, or they are too safe and secure so that only your grandparents would shop there. This “hallmarkification” of gift and card shops is quite common as evidenced by (name omitted), (name omitted), and (name omitted). Yeti has been successful in appealing to both the young and hip crowd (students) as well as the more mature crowd (university faculty, Wigman staff, and the surrounding city communities). Yeti has accomplished this feat in part by offering a wide product selection with the two target segments in mind and offering every customer benchmarked customer service, a way of treating customers so that every customer that enters the store recalls their experience as a pleasant experience that exceeded their expectations.

4.3 Industry Analysis

As mentioned in the previous section, gift and card shops typically fall into two distinct categories, trendy and hip shops that appeal to a younger crowd, and conservative, “hallmarkified” stores that appeal to an older, safety conscious crowd. It is unusual for a store to be able to straddle both categories successfully.

Some stores will try by just carrying merchandise that appeals to the other category, but this approach rarely works. In addition to having the merchandise for the desired market segments, the store must have the look, feel, and customer service to make each market segment feel like they are wanted, that make them feel like they are the typical individual that the store is catering to. Please review section 5.1, the competitive edge for more information on how Yeti is able to accomplish what most in the industry has been unable to.

4.3.1 Competition and Buying Patterns

Competitor #1 Pros: Massive purchasing power (over $30 million in sales last year including a computer and book department); good location; guaranteed customers from the sale of text books. Cons: Little to no parking; poor customer service; difficulty in selling anything but conservative merchandise for fear of being offensive; youthful customer base keeps adults away.

Competitor #2 Pros: Good location next to Case Univ.; good selection of women’s apparel; established customer base. Cons: Little to no parking; very poor customer service; lack of diversity in customer base with young women being their primary customer.

Competitor #3 Pros: Chagrin River Center tenant; plenty of parking; a national chain; average customer service. Cons: Primary customers are 12-19 year olds; too loud background sound system; main focus is on apparel (T-shirts); little to no advertising.

Competitor #4 Pros: Capitol Mall tenant; plenty of parking; national chain; large selection of movie paraphernalia. Cons: Merchandise selection focused on too small of a customer base; poor customer service; little to no advertising; distance from Case Univ. requires car or bus ride.

Competitor #5 Pros: Eighth St. Market tenant; average amount of parking; established customer base. Cons: Poor customer service; poor merchandise selection. Competitor #6 Pros: Two stores within walking distance of John Carroll Univ.; established customer base; large merchandise selection. Cons: Merchandise selection focused on older customers; too much merchandise clutters aisles and creates claustrophobic conditions. Competitor #7 Pros: Large national chain with ample parking; large selection of goods; average customer service. Cons: Cannot respond to customer requests and the latest trends; focused on general merchandise, not cards and gifts; distance from John Carroll Univ. requires a car or bus ride

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ExpertHub’s team of Staff Writers deliver unique, insightful and curated content from successful business leaders, authors and subject matter experts. This highly-experienced team understands the information that business readers are looking for, what’s unique and impactful, and how to distil key ideas into actionable insights.

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BUSINESS PLAN BISNIS SOUVENIR "UNUSIA MERCHANDISE" DI JAKARTA

2018, Thoriq Aziz, Anas Khasbulloh, Yasri Nurdin

Abstrak-Jurnal ini bertujuan untuk mengevaluasi segala aspek dari kelayakan bisnis dari bisnis souvenir "Unusia Merchandise". Menawarkan produk-produk souvenir yang bagus dan murah. Tujuan dari didirikannya "Unusia Merchandise" adalah menyediakan beberapa jenis souvenir yang murah dan ramah lingkungan yaitu seperti gantungan kunci, pin, kaos, dan lain-lain. Dari hasil perhitungan pada aspek keuangan selama 5 tahun maka didapatkan penghasilan sebesar Rp. 199.200.000 sehingga dari hasil tersebut maka payback priodnya adalah 11 bulan sehingga dari hasil tersebut maka dapat ditarik kesimpulan bahwa proyek bisnis ini layak untuk dijalankan. Kata Kunci: strategi, souvenir, studi kelayakan, business plan.

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Menyusun Rencana Bisnis adalah tahap awal bagi seorang pengusaha untuk memulai bisnisnya, pentingnya menyusun rencana bisnis adalah untuk menjadikan bisnis yang dikelola jelas pada sasarannya, lebih profisoanal kedepannya dan akan memajukan dan mengembangkan bisnis yang dikelola. Rencana bisnis adalah susunan sebuah rencana yg dibuat sebelum melaksanakan suatu usaha, yang memenuhi beberapa aspek diantaranya konsep, pemasaran, produksi, operasional, sumberdaya manusia, sumber daya alam yang dikelola, termasuk juga keuangan. Rencana bisnis disusun berdasarkan penelitian yang dapat dipertanggung jawabkan kebenarannya. Penelitian dilakukan dari berbagai macam aspek diantaranya, penelitian mengenai konsumen, pemasaran, tempat yang akan digunakan dalam bisnis tersebut. Tujuan penelitian itu tidak lain untuk menarik investor serta menjadi patokan yang dalam sebuah dalam mencapai target sasaran laba dan lain sebagainya dalam bisnis. Dalam membuat rencana bisnis tentu akan sangat berhubungan dengan sebuah statistic, dengan statistic tersebut akan mudah dalam sebuah penyusunan rencana bisnis ke depannya. Penyusunan rencana bisnis dari setiap individu perorangan atau bahkan perusahaan akan berbeda dari aspek yang digunakan, sehingga tidak semua rencana bisnis bisa digunakan untuk seluruh bisnis yang berbeda-beda, karena dalam membuat rencana bisnis dilakukan sebuah penelitian sehingga setiap bisnis yang ada akan berbeda dalam penyusunan rencana bisnisnya. Penyusunan rencana bisnis sangat diperlukan karena jika tidak ada rencana bisnis maka akan sulit untuk mendapatkan kepercayaan vestor yang akan menginveskan uangnya untuk binsis yang akan kita kelola. Selain untuk menarik investor hal ini juga sangat diperlukan untuk kemajuan sebuah usaha kedepannya, karena jika dalam sebuah bisnis tidak ada perencanaan maka akan menjadi sia-sia dan tidak direncanakan.

Putu Suardiana Utama

Perencanaan usaha mengenai bisnis puding, sebagai alternatif usaha dengan modal minimal, sehingga dapat dilakukan oleh ibu rumah tangga dan mahasiswa yang ingin mendapatkan penghasilan tambahan. Tujuan dari pembuatan perencanaan usaha ini adalah untuk memajukan usaha mikro guna dapat mendayagunakan potensi rumah tangga sebagai home industri.

Zulfa Ulinuha

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Puji syukur kami panjatkan kehadirat Tuhan Yang Maha Esa karena telah memberikan karunia-Nya sehingga makalah ini bisa selesai tepat pada waktunya. Adapun tujuan dari penyusunan makalah ini adalah untuk memenuhi tugas mata kuliah pengantar bisnis tentang " Business Plan " .

ayu melinda

contoh proposal konveksi

Lia Pramesti

Aqilla Rahmah

herlina gustati

Preparation of business plans to be an important communication medium for the entrepreneur to explain the business profile to be developed. An increasingly competitive business conditions will require a leader figure who is able to face competition, so we can make preparations to solve these problems and we can indirectly determine the level of risk to be faced. Without planning, a company will lose focus in achieving a goal. Planning helps managers answer some question as to what the a company target growth rate of corporate profits, whether the position of competitors and how the opportunities for profit.

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In Apparent Blow to Biden Plan, Hamas Leader Demands Full End to Gaza War

An Israeli soldier stands in a tank, amid the ongoing conflict between Israel and Hamas, near the Israel-Gaza border, in Israel, June 4, 2024. REUTERS/Amir Cohen

By Nidal al-Mughrabi and Dan Williams

CAIRO/JERUSALEM (Reuters) -The leader of Hamas said on Wednesday the group would demand a permanent end to the war in Gaza and Israeli withdrawal as part of a ceasefire plan, dealing an apparent blow to a truce proposal touted last week by U.S. President Joe Biden.

Israel, meanwhile, said there would be no halt to fighting during ceasefire talks, and launched a new assault on a central section of the Gaza Strip near the last city yet to be stormed by its tanks.

The remarks by Hamas leader Ismail Haniyeh appeared to deliver the Palestinian militant group's reply to the proposal that Biden unveiled last week. Washington had said it was waiting to hear an answer from Hamas to what Biden described as an Israeli initiative.

"The movement and factions of the resistance will deal seriously and positively with any agreement that is based on a comprehensive ending of the aggression and the complete withdrawal and prisoners swap,” Haniyeh said.

Asked whether Haniyeh's remarks amounted to the group's reply to Biden, a senior Hamas official replied to a text message from Reuters with a "thumbs up" emoji.

Washington is still pressing hard to reach an agreement. CIA director William Burns met senior officials from mediators Qatar and Egypt on Wednesday in Doha to discuss the ceasefire proposal.

Since a brief week-long truce in November, all attempts to arrange a ceasefire have failed, with Hamas insisting on its demand for a permanent end to the conflict, while Israel says it is prepared to discuss only temporary pauses until the militant group is defeated.

Biden has repeatedly declared that ceasefires were close over the past several months, only for no truce to materialise. Notably, Biden said in February that Israel agreed to a ceasefire by the start of the Ramadan Muslim holy month on March 10, a deadline which passed with military operations in full swing.

But last week's announcement came with far greater fanfare from the White House, and at a time when Israeli Prime Minister Benjamin Netanyahu is under mounting domestic political pressure to chart a path to end the eight-month-old war and negotiate the release of Israeli hostages held by Hamas.

Three U.S. officials told Reuters that Biden, having obtained Israel's agreement for the proposal, had deliberately announced it without warning the Israelis he would do so, to narrow the room for Netanyahu to back away.

"We didn't ask permission to announce the proposal," said a senior U.S. official granted anonymity to speak freely about the negotiations. "We informed the Israelis we were going to give a speech on the situation in Gaza. We did not go into great detail about what it was."

Hamas, which rules Gaza, precipitated the war by attacking Israeli territory on Oct. 7, killing around 1,200 people and capturing more than 250 hostages, according to Israeli tallies. Around half of the hostages were freed in the war's only truce so far, which lasted a week in November.

Israel's military assault on Gaza has killed more than 36,000 people, according to health officials in the territory, who say thousands more dead are feared buried under the rubble.

ISRAEL LUKEWARM

Although Biden described the ceasefire proposal as an Israeli offer, Israel's government has been lukewarm in public. A top Netanyahu aide confirmed on Sunday Israel had made the proposal even though it was "not a good deal".

Far-right members of Netanyahu's government have pledged to quit if he agrees to a peace deal that leaves Hamas in place, a move that could force a new election and end the political career of Israel's longest-serving leader. Centrist opponents who joined Netanyahu's war cabinet in a show of unity at the outset of the conflict have also threatened to quit, saying his government has no plan.

Meanwhile, Defence Minister Yoav Gallant said there would be no let-up in Israel's offensive while negotiations over the ceasefire proposal were under way.

"Any negotiations with Hamas would be conducted only under fire," Gallant said in remarks carried by Israeli media after he flew aboard a warplane to inspect the Gaza front.

Israel announced a new operation against Hamas in central Gaza on Wednesday, where Palestinian medics said airstrikes had killed dozens of people.

Early on Thursday, the Hamas-run Gaza government media office said Israeli missiles killed at least 27 people and injured dozens who were sheltering at a U.N. school in Nuseirat in central Gaza.

Israel's military said there was a Hamas compound inside the school and fighters who took part in the Oct. 7 attack on Israel "were eliminated". It said that before the strike by Israeli fighter jets, the military took steps to reduce the risk of harm to civilians. There was no immediate comment from Hamas.

The armed wings of Hamas and Islamic Jihad said they had fought gun battles with Israeli forces on Wednesday in areas throughout the enclave and fired anti-tank rockets and shells.

Two children were among the dead laid out on Wednesday in the city's Al Aqsa Martyrs Hospital, one of the last hospitals functioning in Gaza. Mourners said the children had been killed along with their mother, who had been unable to leave when others in the neighbourhood did.

"This is not war, it is destruction that words are unable to express," said their father Abu Mohammed Abu Saif.

(Reporting by Nidal al-Mughrabi and Dan WilliamsWriting by Peter Graff and Cynthia Osterman; Editing by Toby Chopra and Michael Perry)

Copyright 2024 Thomson Reuters .

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Tags: United Nations , United States , Israel , Middle East , Egypt , Qatar

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Kansas leaders and new group ramp up efforts to lure the Kansas City Chiefs from Missouri

Top Kansas legislators have intensified efforts to woo the Super Bowl champion Kansas City Chiefs by offering to let the professional football franchise shape a plan for using state bonds to finance a new stadium in Kansas

TOPEKA, Kan. — Top Kansas legislators have intensified efforts to woo the Super Bowl champion Kansas City Chiefs by offering to let the professional football franchise shape a plan for using state bonds to finance a new stadium in Kansas.

Kansas House Speaker Dan Hawkins and Senate President Ty Masterson said in a statement Tuesday that the Legislature would consider the proposal during a special session set to convene June 18. They invited the Chiefs “to weigh in on” the plan in a letter May 23 to Chiefs Chairman and CEO Clark Hunt, with the leaders released Tuesday.

Their actions came as a new Kansas nonprofit group, Scoop and Score, launched a campaign for bringing the Chiefs from Missouri to Kansas. The group started an online petition aimed at the Legislature, sent texts saying the Chiefs “deserve a permanent home in Kansas,” and registered 20 lobbyists to represent it at the Statehouse, including a former House speaker and some of the state’s most prominent contract lobbyists.

Kansas officials saw an opening in early April after voters on the Missouri side of the Kansas City metropolitan area decisively refused to extend a local sales tax used to keep up the complex housing the Chiefs’ Arrowhead Stadium and Kauffman Stadium, home to professional baseball’s Kansas City Royals.

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“Your insights and expertise are invaluable in shaping the success of this project,” Hawkins and Masterson said in their letter. “Your organization’s stature and experience in professional sports will help shape our understanding and ensure that this initiative aligns with the interests of all stakeholders involved.”

The lobbyists who registered to represent Scoop and Score included Ron Ryckman Jr., a Kansas City-area businessman who served as Kansas House speaker from 2017 through 2022. His former legislative chief of staff, Paje Resner, also registered, and she was listed as the group’s incorporator when it filed its articles of incorporation with the state on May 13.

Hunt told reporters in April that the Chiefs would take “a broader perspective” about the team’s future home after the vote in Missouri. The Chiefs had hoped to use their share of the local sales tax to help pay for an $800 million renovation of Arrowhead.

The plan favored by Hawkins, Masterson and other members of the Republican-controlled Kansas Legislature would pay off bonds for a new stadium with sales and alcohol tax revenues generated in a designated area around the stadium. It would be similar to how the state and officials in Kansas City, Kansas, financed construction of NASCAR’s Kansas Speedway and an adjacent shopping and entertainment district.

“We are poised to make the Kansas City Chiefs even stronger,” Hawkins and Masterson said in their letter. “It also promises to be a victory for Kansas taxpayers and a game-changer for our state’s economy.”

Some legislators were pushing a similar proposal to build new stadiums in Kansas for both the Chiefs and the Royals before lawmakers adjourned their annual session May 1, but the plan never came to a vote. Democratic Gov. Laura Kelly called the special session to consider broad tax cuts after vetoing three previous tax plans, but legislators can consider whatever they want.

The earlier stadium-financing proposal faced opposition from Americans for Prosperity-Kansas, a small-government, low-tax group long against the use of such bonds and influential with Republicans. Critics have argued that using the bonds for big projects represents the state picking economic winners and losers instead of the free market.

How to Grow Your Souvenir Shop

Jasmine Glasheen

5 min. read

Updated February 27, 2024

It isn’t all fun and games for tourism-based retailers. Despite the fact that the World Travel and Tourism Council reports that tourism brought in $8.8 trillion and 319 million jobs to the global economy, there is one glaring disadvantage to being a tourism-based retailer: Your customers are usually only in town for a few days. 

Because of this, tourism-based retailers aren’t able to build up a regular clientele in the same way as other businesses—which is why it’s especially important for retailers who rely on tourism to know how to master their vertical and how to attract customers in unconventional ways.

Here’s how souvenir shop businesses can knock their sales goals out of the park to become a must-visit destination for tourists and locals alike. 

• Use those margin-builders

What is a “margin-builder,” you may ask? “Margin” refers to a profit margin , which is the difference between the wholesale price retailers pay for a product, and the price that product is sold for in stores. 

Margins are always expressed in a percentage, and retailers tend to have lower profit margins than other industries, but it all depends on the store and sector. The average retail profit margin falls somewhere between .05 percent and 3.5 percent . Certain products are “margin-builders,” however, which means they can be bought wholesale for a low price and resold for significantly more.

Retailers walk a fine line: If the whole store is full of margin-builders, customers may consider it too basic, or not worth the price. But, if the store doesn’t have any margin-builders, it can be tough to turn a profit on low-margin goods.

Customized printed cups, magnets, shot glasses, and lip balm are some examples of popular margin-builders for souvenir shops—they can be purchased bulk at low price-points and sold for more to help retailers afford to keep prices reasonable on other products, such as artisan-made goods. 

• Sell work by local artisans

The global artisan movement currently generates $34 billion dollars a year  and consumer demand for artisan-made products is consistently on the rise. While souvenir shops can definitely benefit from sourcing artisan-made goods from around the world, tourism-based retailers have a unique opportunity to give customers a taste of the local flavor by sourcing products from artisans within their communities. 

Artisan-made goods are usually lower margin products, but they are also the products that can help a store stand out from the competition. Artisans are always looking for regular work, so retailers can sometimes negotiate better wholesale pricing by signing up for a certain amount of goods monthly.

There’s something special about artisan-made goods—they can’t be replicated, and they give tourists a way to bring a piece of the local flavor home forever. 

Jewelry is a standout category for artisan-made goods, as is cosmetics (think lotions, bath salts, soaps, perfumes, beard oils, and so on). Clothing is another top-selling category, especially when that clothing has a local slogan, such as “Use Your Midwestern Manners,” or a custom-designed graphic that’s unique to the area

• Buff up your curb appeal

No one wants to go to a souvenir shop that looks like a DMV. 

Tourists are all about a good time, and one of the best ways for retailers to get customers in-store is by giving them a taste of the action when they drive by. I’m talking murals on the building, bright colors, unique sculptures, and creative signage that suits the brand. Consumers want the souvenir shops they visit to be Instagrammable, so retailers can give them a reason to stop in by making their building stand out from the rest in a dramatic way. 

Outdoor murals create selfie opportunities with the retailer’s hashtag. After all, who doesn’t know someone who has taken a picture standing between graffiti angel wings? Immersive in-store displays are another must-have for tourism-based businesses looking to gain notoriety and social media traction. When a souvenir shop becomes a quirky tourist destination, it becomes much easier to build an online community around the brand. Steady foot traffic and regular sales will follow. 

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• Give them something to drink

Guess what the top-selling product is at airport retailers? You guessed it— it’s water .

When customers are on the move, it’s easy to run out of the fundamentals. Not only is water (and sugary beverages) a great margin-builder, but it stands to reason that water—like a pleasant and climate-controlled shopping environment—can help tourism-based retailers keep customers in-store. 

What’s interesting is that often it will seem like a retailer has thought of everything: great inventory variety, selfie stations galore, beautiful store, but if they miss out on the fundamental basics, customers will be running out of their store for a Starbucks faster than you can say, “did that group leave already?” 

Tourism-based retailers in warm areas should consider carrying Gatorade, or a similar electrolyte booster, for customers who haven’t yet adjusted to the climate. If it’s cold outside, some free tea can go a long way in prolonging customers’ shopping experience. It all comes down to going the extra mile to create comfort and to make your visitors’ shopping journey a success. 

• Offer something for every budget

Contrary to popular belief, travelers’ budgets are just as varied as that of the average customer. While everyone likes to bring home a keepsake or trinket, it is important for retailers to offer a wide variety of price-points to ensure that even those without a lot of money to burn spend at least a little money in their stores. 

To provide low prices on items customers actually want to buy, souvenir shop owners need to save where they can on operational costs like payment processing. Credit card owners spend up to 18 percent more  than shoppers using cash, so shop owners can’t afford not to accept as many payment methods as possible. Identifying and eliminating hidden costs on their payment processing statements, however, can help retailers keep prices down.

Successful souvenir shops offer unique merchandise and an exciting shopping experience for a wide variety of customers. To benefit from the growing tourism economy, tourism-based retailers need to be as focused on creating a one-of-a-kind experience for customers as they are on sourcing inventory—and to do this successfully takes creativity and a willingness to stand out from the pack.

Jasmine Glasheen is recognized as a leading influencer, writer, editor, and brand representative providing both online and video content. She is a frequent contributor to many publications including prominent retail magazines and news sites, tech blogs, and numerous fashion and lifestyle trade shows. She is a contributing editor to RetailWire, content lead at Retail Minded, and is the author of numerous ebooks and whitepapers for private clients. Glasheen also provides fresh thought leadership in the form of live video content, webinars, and podcasts.

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