The Business Lottery

In my years as a freelancer, I've seen countless businesses flounder and fail. Sometimes it's because the owner is inexperienced; sometimes it's because the market wasn't ready for the product; sometimes it seems simply to be a matter of luck. If you want to manipulate your own luck, though, there are some tricks you can use--little things that will make it easier for you to get your new small business off the ground and keep it there. In this new blog, I'll be sharing those tips and tricks with you and answering your questions on how to help yourself as much as possible.

Factors to Consider Before Starting a Hydroponic Shop

Business Blog

There is a growing demand for high-quality organic crops in Australia. However, the fact that Australia is the driest inhabited continent doesn't help matters. If you want to play a role in improving food sufficiency, then you can consider starting a grow shop. This is because a hydroponic shop offers people a chance to grow food crops within a small space all year round. However, before you start a grow shop, you need to make a few essential considerations. This article highlights factors to consider before establishing a hydroponic shop.

Target Market -- Choosing a target market will help you to stock the right equipment and supplies for your customers. For example, if your target market is home gardeners, then stocking simple, easy-to-use hydroponic equipment and supplies will work. You can also include PVC pipes, growing tubes, and water tanks. However, if your target market is large-scale farmers, then you need to stock more complex systems such as pH monitors, walk-in produce refrigerators, hydro-cycle raft beds, etc.

Skills -- If you do not understand the inner workings of the different hydroponic systems you plan to stock, then it is advisable that you hire someone that does. If you don't, you won't satisfy all aspects of client demands. It is also not enough to familiarise yourself with only the systems that you'll stock in your shop, since customers will make inquiries on different accessories and equipment. For example, if you only understand the drip system and the wick system, you will not adequately serve clients looking for information on aeroponics or Nutrient Film Technique. Therefore, it is vital to have the skills required to advise on any hydroponic system. The advantage of such know-how is that you can make special orders for your clients and even educate them as a value addition strategy.

Used or New Equipment? -- One major advantage with hydroponics is that your clients need very little space to set up the system. However, hydroponic systems don't come cheap; therefore, it is necessary to consider whether to sell used or new equipment. If you are looking to specialise in a particular area of hydroponics, for instance, grow lights, then it is best to stock new equipment. On the other hand, if you want to be a one-stop shop, you can stock used equipment mostly or blend new and used. However, your inventory should be informed by customer requirements.


22 October 2018