What is the most economical way to start running a retail business(but not online)?Any ideas?
Dec 01, 2007 by Anand R | Posted in Small Business
If I have a little budget,say a grand, and would like to start a retail business,where can I rent a shop at a good price or any ideas or web links to supporter a new start up economically?
You can't do a lot with a respected, what I would suggest is finding a store for let in a busy area, research the market for the last 2 weeks, see what has increased in value, let's say pharmaceuticals has increased, you find investors, get them to ordain in your store, and allow them 40% of your store. No more than tha. Once you have found your shop and your investors are in place, you need to advertise, so use the newspapers, signs, magazines to won over your products, if it is pharmaceuticals you are wishing to sell and you are putting ads in newspapers, then you must print them near the front on the right in collusion side of the page, because people seldom look on the left, and woman read from the front. If your product is aimed at menprinting a whole page-boy on the back of a magazine is good, because men generally tend to read from the back and then go through things they like.
Once your advertisement is complete, you sine qua non to set yourself milet=stones, for example; in January I wish to make £300 profit, in February £700 and in Pace £1400, and so on so forth. If you are not aceiving the goals you are setting yourself yu need to find way of acheivng them, and if you're going too high over your goals, find them a bit.
Last of all, know your competitors in the area. Do not try and compete with a supermarket, that's how businesses get ruined.
I hope this will help you.
richard t | Dec 01, 2007
Rout thing is to get a buisness loan and buy an established business that has also some potential BUT always do homework and remember that you need a lot of cash overflowing for a business for overheads advance rents etc and a grand goes absolutely no-where!
squeaky | Dec 01, 2007
Retail Business, Where can you find the best information on starting your own retail Business?
Jul 04, 2009 by Lara O | Posted in Small Business
I have an viewpoint for a retail fashion business and would like to find out how i should go about it.
Could anyone recommend any
Websites
Books
Tips
and if you have set up you own retail business what would you say was the best source of information and/or recommendation?
Thank you x
No website or soft-cover is going to tell you everything you need to know
The first thing you need to do is write a business plan, and by doing that you will have identified everything you for to know, and need to find out about
1, you need to know if your product(s' are sellable and competitively priced
2. you need to find affordable premises
3. will you demand to employ staff
4. how will you buy the stock and all the fixtures and fittings
5. other overheads include electricity, insurance, marketing and advertising, phone rule, petrol/diesel, vehicles
The list is personal to you, and only you know, what you need to do
| Jul 05, 2009