Neighbourhood vitamin and supplement shop

Health-conscious locals, older adults, gym-goers, parents and people following a recommendation from their doctor or naturopath.

You buy stock at wholesale and sell at retail, so margin comes from each sale. Loyalty cards, bundles and your own in-store brand products can add repeat sales.

• Friendly, trustworthy customer service
• Stock ordering and inventory control
• Willingness to learn about products and keep learning
• Basic bookkeeping

• Natural health products generally need Health Canada approval, shown on the label as an NPN or DIN-HM. Check that every product you stock has one
• Rules on health claims: stick to what the label says, and check Health Canada guidance on advertising
• Quebec and some other areas have language rules for labels and signage, so check your provincial requirements
• Commercial lease commitments and slow early sales, so keep cash in reserve
• Commercial general liability insurance, plus product liability cover, and check your municipal business licence needs
• GST/HST registration once you pass the small supplier threshold, and provincial sales tax rules where they apply
• Check expiry dates and rotate stock, since out-of-date products are a loss and a risk

Estimates suggest startup costs typically around $40,000 to $150,000, depending on premises, fit-out and opening stock. Lease commitments and slow early sales are possible, so keep cash in reserve.

Monthly revenue is typically estimated at around $10,000 to $40,000, depending on location, range and how quickly you build regulars. Treat these figures as estimates, not guarantees.

Natural health products generally need Health Canada approval, shown as an NPN or DIN-HM on the label, so check every product you stock. Also check health claim rules, provincial language requirements, insurance and municipal licence needs.