Description

You’re no idiot, of course. Between corporate chains, superstores, and independently run stores, the competition between retailers is at its fiercest. It takes more than low prices to attract customers—and maintain their loyalty. The Complete Idiot’s Guide to Starting & Running a Retail Store will show you exactly how to get into the business—and stay there.

In this book, I take you through the steps of developing your idea, building your strategic plan, designing your store, picking your products, marketing and promoting your concept. Then, I give you the basics you need to run that store and the techniques and tools to analyze your business and make financial and business decisions that will make you profitable and thrive.

How I’ve Organized The Book

You’ll start your trip in the world of retail taking a quick look back in time to how retail got started, where it is today and where it is going. Then, be ready for a whirlwind tour of the basics you need from researching your customers and competition to running a store on a day to day basis. The book is divided into six parts:

Part 1: When I Grow Up I Want To Be A Retailer looks at what retail used to be, where it is today, and where it’s going in the future. Then, you’ll explore what it takes to become a retail legend focusing on the courage, talent, hard work, perseverance, and yes, luck, too, that you need to have to succeed.

Part 2: Sizing Up Your Options and Your Competition helps you evaluate your idea, research your competition and get to know the industry you plan to work in.

Part 3: What You Can Imagine, You Can Achieve helps you define your vision and develop the strategy for your store. Once you define that strategy, you’ll find tools for developing a business plan and ideas for raising capital. 

Part 4: Running the Store or Wearing Many Hats starts with how to set up store operations, review the crucial things you need to know about location and sort out how you buy the right stuff at the right price. Once you have all that in place, you’ll find information on managing your inventory, designing your store and displaying your products.

Part 5: Nuts and Bolts of Opening and Running the Store focuses on how to market your store, find the right people to staff your store and how to train and motivate those people to serve your customers and exceed their expectations every day. You’ll also explore how to pick the right technology and make use of the Internet. Then, you’ll discover how to track your store’s results. Finally, you’ll review key negotiation styles and how to deal with each type of negotiator, including vendors, the bank, the landlord and your staff.

Part 6: On The Right Track takes you through the key measures you can use to track your performance during the first year and beyond. You’ll learn techniques that will help you avoid losing your customers. Finally, you’ll learn how to mine the data of the customers you have and use that information to personalize your service and stand out from the competition.

Extras

Included in this Complete Idiot’s Guide are also a few helpers you’ll find in little boxes throughout the book:

• Definition will help you learn the language of retail.
• Selling Points will give you ideas for how to set up your retail store and how to find the resources you need.
• Better Not! will give you warnings about things you need to avoid.
• Savvy Retailer will help you explore additional information about key retail topics.
• Learn from the Big Boys will discuss things major retailers do right that you can do, too.

Table of Contents