There are already a few US based cubing stores (web-based). Speedcubeshop, Cube Depot, Jason Ink's store (I forget the name of it), Specialtyspeedcubeshop (or something similar), and don't forget Puzzle Addictions (but he has an actual location).
You're in Wyoming, you're just north of Colorado. I'm not sure the distance from your city to Lakewood (Brad from Puzzle Addictions is based out of there, or at least close. I know he's thinking about going to a mall kiosk soon to get more foot traffic (which is probably a great idea).
If you do plan to open up an actual store, you'll need a lot more than $1,000. You'll have to pay for leasing, utilities, etc., and then all of your products.
I'm not sure I recommend opening a web based store. I doubt you'll find too much profit from it, unless you can find ridiculously cheap wholesale prices. Most people already order from speedcubeshop, cubedepot, or Puzzle Addictions. A good amount of people (myself included) usually don't mind waiting the extra time for orders from Lightake. I personally think there are too many web-based stores, and would love to see some actual stores. I'd probably buy all my puzzles from an actual store if there was one close. The problem is that cubing just isn't popular enough (yet, and to see more stores carrying more puzzles than Rubik's brand and V-Cube brand).
Brad, if you see this, you could move to Circle Centre mall in Indianapolis, or Greenwood Park Mall (in Greenwood), or Keystone at the Crossing mall (North side of Indianapolis) if you feel like getting out of your state! I'd be a pretty dedicated customer (for when I get new puzzles, anyhow
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