What Equipment Do You Need to Open Your Retail Store?

What Equipment Do You Need to Open Your Retail Store?
After you've nailed your business plan and financing, what retail equipment and supplies do you need to open your store? Here's everything you'll need for a smooth opening.
by Austin Tedesco Apr 11, 2022 — 4 min read
What Equipment Do You Need to Open Your Retail Store?

What equipment do you need to open a retail store?

After completing your retail business plan, registering your business, determining your financing and finding a location, you’re ready to take the next step and build out your space. But where should you start and what are your options?

Having a well-equipped, connected, and easy-to-manage store is essential to setting up yourself, your team and your business for success.

Here is the Square checklist guide for the types of hardware and tools you can use to get up and running.

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*Download PDF of the checklist here!

Retail store supplies, inventory, and stock room

Essentials

Good inventory management reduces costs, improves cash flow and boosts your business’s bottom line – especially when it’s connected to a strong point-of-sale solution. You don’t need much to start and stay organised, but these tools will help.

Consider

Retail back office

Essentials

It can be easy to forget about these basics when you’re starting out and focused on fine-tuning your product, but planning ahead will help your operations run smoothly while avoiding surprise expenses.

Consider

You might not need a traditional break room, but consider spaces dedicated to your team. Giving employees an area to unwind with amenities – even small ones like comfortable chairs and a stocked fridge – is a nice step to attracting and retaining talent.

Retail display and fixtures

Essentials

The specifics here will depend on what you’re selling and the size of your space, but this all comes down to two factors: letting your products shine and making it as easy as possible for your customers to make purchases the way that works best for them.

Consider

While these items aren’t quite essential, they can provide functional value while also enhancing the customer experience. After you map out the costs for all of your key purchases, you can see what else you need and are able to afford.

Point of sale (POS) system

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Essentials

Whether it’s a stand for your tablet, a wireless EFTPOS terminal, or a full register, your point-of-sale system is so much more than a tool for the essential task of processing payments. The best POS nails the basics while streamlining administrative tasks and tracking everything from sales reporting to customer engagement to inventory management. Here’s how to get started choosing the one for you.

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Consider

Retail lighting, colours, furniture and signage

Essentials

Your product matters, but the vibe inside of your store can also play a large role in attracting customers. Make sure that you’ve invested in a lighting setup that makes your products shine any time of day, and find signage that fits your brand while selling your products clearly.

Consider

Have the budget to amplify your space a bit more? Small things can make a huge difference in building customer loyalty. You want shoppers to feel a sense of comfort and curiosity as they browse your store. Work with a fit out or interiors specialist to determine the right mix of design elements and amenities:

Retail store marketing materials

Consider

While physical marketing tools aren’t essential items for your retail business, you should consider whether they’re useful for the business you’re starting and if they fit inside your budget. While digital marketing can be highly effective, a new retail store can get a boost from these items.

This article is for informational purposes only and does not constitute professional advice. For specific advice applicable to your business, please contact a professional.

Austin Tedesco
Austin Tedesco is an editor at Square covering all things management — from the technical aspects of payroll and taxes to the soft skills that lead to strong teams for any business.

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