Introducing Open with Faire Academy: A Free Online Guide to Opening a New Retail Store

April 25, 2024  |  By Faire

Since day one, Faire has set out to help brands and retailers navigate the challenges that come with running their dream business. Today, Faire is proud to announce Open with Faire Academy, a retailer’s free online learning guide to opening a new store. Open with Faire Academy was built with input from dozens of Faire retailers as a one-stop resource hub to help up and coming business owners master the fundamentals of opening a retail store. From creating a business plan, to getting funding, to finding the perfect location, retailers will have access to on-demand resources from the Faire community throughout their entire retail journey.  

Introducing Open with Faire Academy

Open with Faire Academy is an expansion of the broader Open with Faire program, which launched in 2021 with the goal of ensuring new retail business owners find success on opening day and beyond. The program provides retailers with financing to purchase the inventory they need for their first year in business. In just three years, Faire has extended over $100 million in inventory credit to over 15,000 new online and brick-and-mortar small business owners across the United States and Europe.

“I’ve used Open with Faire for my last two shop openings, and it could not have been easier. Access to traditional capital has become scarce post-pandemic, but Faire makes it so easy to secure some of the funding needed for product purchasing,” said Mackenzi Farquer, owner of Lockwood with 7 stores across New York. “Having Faire as a partner and resource throughout the shop opening process has been key.” 

According to the U.S. Census Bureau, over the last few years, the number of applications filed to start new businesses has increased at an exciting rate. In 2023 5.5 million new business applications were filed. Faire is committed to serving this new wave of business owners by providing the right learning courses and direction for a successful opening day and beyond. 

“Faire has always believed in the power and resilience of the independent retail community, but the reality is it can be extremely difficult to navigate the complexities that come with opening a new retail business,” said Ami Vora, Chief Product Officer. “We created the Open with Faire Academy with the goal of giving new business owners access to educational resources and guidance coupled with inventory financing to help them be successful from the get-go.” 

Learn more about Open with Faire 

Open with Faire Academy will continue to expand its resources for retailers across the country. Customers who are looking to begin the journey of opening their dream store can utilize Open with Faire Academy by visiting here. Customers who are ready to stock their store can apply for inventory financing through Open with Faire by visiting here

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