The human and material resources necessary to open a DIY store

Material needs

The size of the initial investment will obviously depend on the size of your retail space and the concept (hardware or supermarket).

In particular, you will need to plan:

  • Layout of the premises: renovation work, shelves, boxes, storage and loading area for materials
  • Purchase of initial stock: tools and materials
  • Company establishment costs: registration, contracts, etc.
  • Administrative equipment: office furniture, computer equipment, etc.
  • Buying trucks if you deliver
  • Creation of a website and promotional material

Do not hesitate to ask for quotes from several suppliers and to negotiate your partnerships before making a commitment.

Human resources

As for staff requirements, the size of the workforce will again depend on that of the store.

In particular, staff should be provided for the following positions:

  • Sales: departmental advice, collection, ancillary service such as cutting for example
  • After-sales service: deliveries, management of returns and any problems
  • Administrative: accounting, payroll, planning management, inventory management, etc.
  • Marketing: budget management, organization of promotional campaigns, etc.
  • Care and maintenance: store maintenance, compliance with safety standards, vehicle maintenance, etc.

Regarding the training of sales staff, although there are specific diplomas for working in a DIY store, these are by no means compulsory. You can therefore simply recruit salespeople passionate about DIY, or embark on the adventure on your own if you open a small neighborhood hardware store.

The main qualities required are linked to the commercial aspect of the profession: sense of service, accessibility, advice, etc. Being methodical and rigorous is also necessary, in particular with regard to stock management.

Follow a marketing strategy to open a DIY store

The next step in starting a DIY store is to establish a marketing plan. The goal? Promote yourself: bring in new customers and retain existing customers.

There are many options available to you, for example you can:

  • Communicate on the internet: via your site, social networks, or advertising
  • Set up a newsletter system to keep your customers informed of news and promotions
  • Establish a loyalty program giving entitlement to discounts
  • Distribute flyers in mailboxes
  • Display advertising near the premises
  • Communicate in the media: local radio, newspapers, etc.

You will need to make your choice, and quantify the cost of the actions you want to put in place to integrate them into your estimated budget.

Decisive step: the DIY store business plan

After you’ve done your market research, chosen your concept, found your location, and established a marketing strategy, you can start working on your DIY store business plan.

The business plan is the reference document for seeking funding. This is a detailed, argued, and costed presentation of your project. It is structured in several parts: summary, presentation of the company, product and service offer, market study, commercial strategy, financial forecasts, etc.

The business plan of a DIY store has several objectives:

  • Allow you to verify that your project is financially viable before you start
  • Present the strengths of the project in a convincing way to the financial partners
  • Highlight the need for financing and the profitability potential of your store

Using spe has several majecialized softwaror advantages:

  • You will be guided step by step in the drafting by instructions and examples for each part of the plan
  • You will easily realize your financial forecast, leaving the software to take care of the calculations and accounting aspects.
  • You will have access to business plan models already written
  • At the end you will get a professional document, formatted, and ready to be sent to your bank

The marketing plan of a decoration boutique

To gain a foothold in this very competitive market, and to attract, then retain, customers in your decoration store, you will need to put in place an effective marketing strategy.

To do this you can consider several communication actions such as:

  • Conduct street marketing operations such as the distribution of flyers
  • Set up a loyalty program to bring customers back to the store
  • Play on in-store advice by calling on salespeople with experience in interior design
  • Post decorating tips and gift ideas on your blog
  • Set up advertising campaigns on the Internet targeting research related to decoration around the store
  • Run ads in local newspapers or on the radio
  • Organize contests on social networks
  • Set up an e-commerce site allowing your customers to consult your inventory from home

The business plan of a decoration store

The drafting of the decoration boutique business plan is the keystone of your business creation project. It fulfills two functions: to allow you to check the viability of the project on the financial level, and to serve as a reference document to present your project to banks or investors.

Schematically, the business plan for your decoration store will consist of two parts:

  • A written part: presenting in a reasoned way the project, its assets, and the risks associated with its implementation
  • A financial forecast: highlighting the financing needs and the profitability potential of the project

Using specialized software has several major advantages:

  • You will easily realize your financial forecast, leaving the software to take care of the calculations and accounting aspects.
  • You will have access to business plan models already written
  • At the end you will get a professional document, formatted, and ready to be sent to your bank

Finding funding to open a decoration boutique

Once your boutique decor business plan has been drafted, you can devote yourself to the last step: finding funding.

To succeed in raising this sum, you will probably need to resort to a mix of equity and bank debt.

You wanted to know how to open a decoration store, we hope that this article has allowed you to see more clearly the steps to be taken.