Industry Analysis & Industry Trends
Despite the economy's turnaround, revenue for the Small Specialty Retail Stores industry will continue to experience downward pressure. The largely discretionary nature of the products sold by these stores will continue to push budget-conscious consumers to shop at external outlets, such as discount department stores and online retailers. Also, sales of tobacco, once the industry's key moneymaker, will gradually decline as consumers become more aware of the health risks associated with smoking... purchase to read more
Industry Report - Starting a New Business Chapter
The Small Specialty Retail Stores industry exhibits minimal barriers to entry, with low establishment costs and no formidable licensing requirements. However, industry competition and market awareness can pose a threat to new entrants. Most industry operators are small to midsize establishments that cater to a local or regional community. Therefore, there is little need to invest heavily in technological equipment, such as computerized inventory controls or point-of-sale systems.
In addition, most small specialty retailers do not have license requirements, except for tobacco shops. Even so, tobacco retail licenses are relatively easy to obtain through state governments. Because there are few barriers to entry, the industry is estimated to have nearly 126,300 firms in 2014... purchase to read more