Lego Store in Michigan?

Question

I am interested in opening a Lego store in Michigan, but I am not sure where or what the best way to find that out is. Also any information on how to obtain a government grant to pay for this or schooling would be helpful.

Answer 1

Ain't nothing like entrepreneurship!

I'm from not from Michigan but here's some basics for you:

#1. Decide if the area needs a Lego store. Things like the amount of kids with in a few miles, and the number of adults and whether they are really into Lego. Demographics are key to your business staying open.

#2. Get a store location. This is where money (aka capitol or $$$) comes in. Either save up for a while or take out a loan. You'll need to have a detailed business plan of what you are going to do with the money to convince the bank to give you it. Starting off, you'll probably end up in some small strip mall but that'll come down to demographics again and advertising so people find you.

#3. Get the proper business permits and other paper work including establishing your business name. There are usually fees involved. Name wise, there may be issues using LEGO in the name. It's all business stuff you'll have to look into. There are many responsibilities you have to take on in order to do business but I'll spare you another paragraph of that.

#4. Find where you can buy Legos cheap enough to resell at a reasonable price. You may be able to get them direct from Lego at the lowest cost as a distributor but look at other alternatives just to know where to get things when you need them. This comes down to sets, individual parts, etc. Having individual parts is a great business move for kids/customers that just need a few and not entire sets. (Lego offers a limited amount of parts)

#5. Make the store a great environment for kids and adults alike. Bright/vibrant colors and displays especially are important to make kids want to come back. Service is of course a major item. Be friendly and very helpful. Know Lego in and out.

As for government funding, there may be some out there for new/small businesses. But they are usually not a lot. Do get your hands on as much $$$ as possible.

This is a basic overview. A good amount of info to set you in the right direction. The rest is on you. Good luck!