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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:

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

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In some states, you can pay your employees between $7.25-$10 per hour, although in major cities that number could be much higher, and there are also currently 12 states with a minimum wage over $10 per hour. Utilities can be expensive, costing a grocer as much as $5,000 per month, depending on the size of their freezer section. Food needs to be restocked, which is a varying expense. To save money, purchase goods in bulk.

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Grocery stores generate most of their volume selling processed foods, but they also make money by offering fresh meats and produce, cleaning products, and alcohol.

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In 2016, the average American supermarket had total sales over $17 million. However, grocery stores are volume businesses with thin margins, as the average supermarket has a profit margin of just 1% to 3%. Even then, a successful independent store can profit up to $300,000 annually. Of course, these rates vary greatly on the area, the store’s specialty, and its size. For this reason, the average grocery store owner’s typical income is a bit unclear.

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Choosing the right name is very important. If you dont have a name in mind already, read our detailed guide on how to name a business or get some help brainstorming a name with our Food & Grocery Store Business Name Generator.

Then, when registering a business name we recommend checking if the business name is available in your state, federally by doing a trademark search, searching the web, and making sure the name you choose is available as a web domain to secure it early so no one else can take it.

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After registering a domain name, consider setting up a professional email account (@yourcompany.com). Google's G Suite offers a business email service that comes with other useful tools, including word processing, spreadsheets, and more. Try it for free

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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!

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  • This separates your personal assets from your company's assets, which is necessary for personal asset protection.
  • It also makes accounting and tax filing easier.
A cube with LLC printed on its sides

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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.

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In most states, it is necessary to obtain a grocer’s license. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits.

In particular, if you want to sell alcohol at your grocery store, you will need a liquor permit, the specificities of which vary locally.

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When selling food, you will need licensing from a local health department, because all establishments serving food are required to pass a health inspection. 招摇江河Check out these 招摇江河 招摇江河tips for faring well on health inspections招摇江河招摇江河.招摇江河

There are federal regulations regarding what can and cannot be added to, sold as, and processed with food. Attached is a resource from the Food and Drug Administration detailing the process of starting a food business: 招摇江河How to Start a Food Business.招摇江河

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

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

Learn more about General Liability Insurance.

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

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Grand opening promotion should be widespread. A successful grocery store will promote in apartment complexes, college campuses, nearby stores, and on social media. Because grocery store products have such a steady demand, they cater to a wide-ranging audience. As for marketing, grocery stores survive and thrive from word-of-mouth advertisement. Once your grocery store becomes known for its low cost, high-quality food — or for its unique options — it will market itself.

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A business website allows customers to learn more about your company and the products or services you offer. You can also use social media to attract new clients or customers.