I. Just Starting Up? (You'll need profits!)
Every dream can be realized with enough luck, perseverence...and this website!
While there's much information out there about "small business", there is very little about the special requirements of retail businesses.
That's where this site comes in. It makes the financial know-how needed for profitability readily accessible to any retailer, anywhere.
Think of it as sharpening your retail Profit–ABILITY.
Be honest now. Can you answer a resounding "YES!" to all three of these questions?
1. Do I have the capacity to be in retail?
That is, talent, money, locations, merchandise, systems, people, business sense, etcetera?
2. Do I have the appetite to be in retail?
Owning a retail store, like any other business, demands desire, drive, ambition. Do you have that?
3. Do I have the stomach to be in retail?
Ahh, the true test.
Just like all other business owners, you must deal with uncertainties.
But, as a retailer, you must do all this as if in a goldfish bowl!
Do the Homework!
Work in a relevant retail store.
Sounds pretty basic, doesn't it? If you can't get a job in the kind of store you think you want to own, consider offering to work as an unpaid intern for 2 to 3 months. (Recognize that the owners will still have to train you, and of course, may regard you as competition as well.)
Work in any retail store in the neighborhood or mall you are considering for your store's location.
Your goal now is to see for yourself - firsthand! - the customers in that area.
Become a student of the "theater of retail".
Pay close attention to the design of all kinds of retail businesses. Spend time in stores and malls as an observant student, not just a shopper.
Then, go to a business library or online to learn more about store design and layout, visual merchandising, displays, fixtures, shopping bags, digital signage, and much more.
Know the heroes – and the has-beens – of your chosen retail segment.
Learn as much as you can about the greatest success stories of retailers in your chosen segment, as well as those who no longer are in business.
What drives the (continuing) success of the winners?
And what caused the demise of the others?
Go here for more info on the
SPECIAL Access program.
All the resources and tools you'll need
to grow your retail profit-ability.
For as little as 41¢ a day!
The first 5 days are free! No risk to try!