How do I get started with a hydroponics store? That is one of the most common questions that a hydroponics equipment supplier gets from people who are considering opening a hydroponics equipment store to supply local farmers and gardeners. This guide will provide you with the business basics as well as a hydroponic store’s day-to-day operations, target market, startup expenses and growth potential, which will give you all the answers you need to get started.
Is Hydroponics Popular? | By using hydroponic equipment, it eliminates the use of soil as a crucial factor to plant growth which increases the places you can grow plants. It is now more popular than ever as more people are investing in plant production. To be able to use the hydroponic method, farmers and gardeners must purchase specialized equipment and supplies. Not only has the hydroponic equipment store industry grown 4.6 percent but has made $842 million in revenue in 2018. Popularity in hydroponics has also produced 3 percent more stores and added 4.4 percent jobs to the workforce.
Who Should Open a Hydroponic Business? | If you enjoy talking to people and like gardening or farming, you are an ideal candidate for a hydroponics business. With a consumer-friendly personality and the time to learn about the equipment you sell, you will be successful. You also have an opportunity to experiment with hydroponics plant growth before you venture into a business. Consumers will ask questions, so you need to be able to answer them and give sound advice about your hydroponics inventory.
Day-to-Day Operations in a Hydroponics Store | When you run a hydroponics business, your primary goal is to help customers by recommending equipment and supplies. You will also reorder new inventory from your wholesale distributor to ensure you have the products available when needed. You are also responsible for tending to your inventory, restocking shelves and tidying up your store.
Who Is My Target Audience? | A business owner of a hydroponics store will cater to farmers, gardeners and indoors or outdoors growers. As most growers tend to have a variety of plants, having high-quality equipment and hydro supplies are critical components to steady business growth.
Is a Hydroponic Store a Viable Business Idea? | A hydroponics store can be local, regional or online. Take the time to research your local ordinances, customer base, sales and competition so that you know which option is best.
How Can I Be Successful in the Hydroponics Industry? | You need to have a good grasp on the equipment and supply brands you intend to sell. Wholesale hydroponics equipment dealers recommend buying the hydroponics equipment and supplies to gain the experience you need so that you best contribute to the industry and consumer base you will serve. Business owners also have access to free online courses to help you learn about hydroponics growth.
Startup costs differ based on the type of store you want to open. An online store will not cost as much as a storefront, so a new business owner will need to weigh the costs before deciding. The more you know before you open a new store, the more likely you will grow a loyal following.