New Age Store Business Plan and SWOT Analysis

New Age Store Business Plan, Marketing Plan, How To Guide, and Funding Directory

The New Age Store Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a New Age Store business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.

Your Business Planning Package will be immediately emailed to you after you make your purchase.

Product Specifications (please see images below):

  • Bank/Investor Ready
  • Complete Industry Research for the Industry
  • 3 Year Excel Financial Model
  • Business Plan (26 to 30 pages)
  • Marketing Plan (24 to 28 pages)
  • 425+ Page Funding Directory
  • PowerPoint Presentation
  • Loan Amortization and ROI Tools
  • Three SWOT Analysis Templates
  • How to Start a Business Guide
  • Easy to Use Instructions
  • All Documents Delivered in Word, Excel, and PowerPoint Format
  • Meets SBA Requirements

In most towns and cities, there usually only a handful of new age stores that operate as a retailer to retailer of candles, oils,  incense, and other items that are normally associated with these types of businesses. The start up cost associated seated with a new age store is relatively low. Usually, these businesses have a startup cost around $50,000 to $100,000 depending on how much inventory is going to be held. New age stores that have their operations in major metropolitan areas typically have a higher startup cost associated given the higher rental expense.

These businesses also are generally able to remain profitable and cash flow positive in most economic climates especially among new age stores that maintain a significant online presence. It is almost imperative that most new age stores to maintain e-commerce functionality while concurrently maintaining profiles unpopular third-party sales platforms like Amazon, eBay, Etsy, and related platforms. By maintaining both the retail location as well as a substantial online presence – most new age stores are able to generate a number of revenue streams among a number of different retailing partners. These businesses typically enjoy margins of about 70% to 80% on the products that they sell. One of the ways that many new age stores differentiate themselves from other competitors in the market is that they will typically carry handmade goods from a number of local artisans.

Given that this is a retail base business, many banks and financial institutions are willing to extend a business loan, line of credit, or small business administration loan to a newer that is looking to start this type of business. Of course, a new age store business plan is going to be required and is standard in most business planning document a three-year profit and loss statement, cash analysis, breakeven analysis, balance sheet, and business ratios page should be developed. As it relates to industry research, there are approximately 90,000 new age stores and operation that generate about $2 billion your revenue. In each of the past five years, the industry has employed 100,000 people.

One of the key things to discuss within the business plan is the local demographics of people that live within the target market. This includes taking a look at median income, median family income, population size, population density, and the number people it comes to the area as a tourist. New age stores typically do well in cities and towns where there is a significant amount towards population given that people buy souvenirs and other small trinkets from these locations when traveling. As it relates the competition, there is usually only a handful of these locations in any given major area – and as such – the competitive analysis portion of the business plan can be kept somewhat small.

A new age store SWOT analysis is typically developed as well. As relates the strengths, new age stores typically operate with a great deal of economic stability provided that they maintain a significant online sales presence. These businesses enjoy strong gross margins and moderate barriers to entry.

For weaknesses, none of the products that are sold by a new age store are typically considered to be necessities. Although some people view candles, incense, and related products as very important to their day-to-day lives – they are still not necessities for basic living. As such, an economic recession can have a negative impact on the revenues of the business.

For opportunities, these businesses can readily expand by developing additional locations that allows them to reach a greater number of people. As always, a substantial online sales presence will also allow the new age door to generate revenues from outside of its retail location. Almost all these businesses have a presence on Amazon, eBay, and related third-party sales platforms in addition to maintaining a standalone e-commerce driven website.

For threats, there’s really nothing is going to impact the weight of these companies conduct their operations moving forward. People are always going to want to purchase tarot cards, candles, incense, scents, and oils – and really nothing to change about this industry.

A new age store marketing plan should also be developed. Given that most of these businesses do enjoy very little competition, appropriate signage should be produced and showcased throughout the retail location. As has been discussed here, a substantial online presence that features e-commerce functionality is a necessity for these businesses that many people seek to purchase specific goods online. In fact, many new age stores often have online revenues that will ever exceed those of the income that is generated from in-store sales. A web development firm can be hired to develop an appropriate e-commerce website that seamlessly integrates with popular social media platforms including FaceBook, Twitter, Instagram, and Google+. The cost associated with developing this type of online platform typically ranges anywhere from $2,000 to $10,000 depending on how much graphic design work is going to be employed by the web development firm.

Many new age stores will also join local chambers of commerce and support local charities in order to boost the visibility of the retail location. In some cases, some entrepreneurs will also distribute mailers and flyers that features discounts and coupons for goods that are in the store. One of the other common ways that a new age store can boost its visibility is by hosting ongoing events that cater to people that are into new age products such as poetry events, comedy events, live music, and other gatherings that focus on people that enjoy these types of products and lifestyle. These events can be showcased on popular social media platforms which will allow the business to have even a greater deal of visibility given that third-party artists will promote their presence at the location in conjunction with that of the business.

New age stores will continue to be popular moving forward. They cater to a very specific subgroup of people that have an interest in this type of lifestyle, and these people continually demand new products regarding their interest. A substantial online presence almost always ensures that these businesses can remain profitable and cash were positive in any economic climate. There’s really nothing about this industry that is going to change the next 20 years, and they will always be owned and operated as smaller base businesses rather than large corporate chains. In fact, many people seek out these businesses given the fact that they are owned by small business owners rather than by an individual or large organization that maintains a number of locations.