Starting a business is no small feat, and Hobby Lobby is no exception. The cost to open a Hobby Lobby store depends on several factors, including the location of the store, the size of the store, and the type of merchandise sold.
Hobby Lobby is a craft store that specializes in selling arts and crafts supplies, hobbies, and home decor. The company was founded in Oklahoma City, Oklahoma in 1972 by David Green. Today, there are over 800 Hobby Lobby stores across the United States.
The cost to open a Hobby Lobby store varies depending on the location of the store. For example, it costs more to open a store in New York City than it does to open a store in Tulsa, Oklahoma.
The size of the store also plays a role in the cost to open a Hobby Lobby. A smaller store requires less inventory and less square footage, which can save on costs.
The type of merchandise sold at Hobby Lobby also impacts the cost to open a store. If the store sells more expensive items, such as furniture or electronics, the start-up costs will be higher than if the store sells only arts and crafts supplies.
In general, it costs between $2 million and $3 million to open a new Hobby Lobby store. This includes the cost of inventory, leasehold improvements, fixtures, and signage. It also includes the costs of hiring employees and training them on how to use the point-of-sale system.
While the initial investment might be high, starting a Hobby Lobby can be a rewarding experience for entrepreneurs who are passionate about crafting and DIY projects. Those who are able to successfully open and operate a Hobby Lobby can enjoy watching their business grow as customers come back for more supplies and unique finds.
