I'm thinking of starting my own privately owned buisness.
Good for you.  I have always wondered what would be required to start a business.
Really you just need dedication and some money! II'm thinking of opening a retail store.
Retail is a had business. Profit margins can be slim.  What type of a business are you  thinking of?
I was thinking of a retail store dedicated to board games, and miniature wargames.
Interesting.  I used to patronize a store like that called "Sword of the Phoenix".  Put some tables in the back where people can have tournaments.
Did they play Games Workshop games there?
No, this was long ago, but they probably do at Firefly Toys and Games in Columbia, SC.  Google them.