Having a retail store can be lucrative especially when planned appropriately. Before starting out, there are a few things every retailer should know or prepare to know.
If you have answers to the following then you’re ahead of the game.
Who is your target customer?
What does your customer want to buy?
What image do you want your business and employees to portray?
How do customer’s perceive your company/employees?
Who are your competitors?
What 2 things do your competitors do well?
Do you know your inventory level?
Do you know your turnover for all products?
What are the most significant losses?
Why do you want a retail business?
If you have a retail business, none of these 10 items should be unfamiliar. If they are, you, more than likely are having issues with your business.
Anyone contemplating starting a new retail business should consider these items essential details to know.
