New Retail Store Startup


Home Contact Us Join Now! Search Text Size Tell a Friend Member Area

New Retail Store Startup

Opening a new retail store involves a significant investment and lots of risk. It's estimated that close to 50% of new retail stores fail within two years of opening. Why do some retailers succeed while others fail to make it?

The number one reason retail stores fail is lack of customers. These stores simply did not generate enough customers and closed when they ran out of money.

The retail stores that did make it had a good to great location, proper business planning, sufficient working capital, a product line that did not compete with the big box and mega-chain retailers, a way to reach sufficent numbers of targeted customers in a cost effective way, lots of hard work, and perhaps alot of luck as well.

In this section we'll cover topics to help new retail store owners who are in the process of opening a retail business as well as individuals who are thinking about opening a retail store.

The Truth About Yellow Page Ads for Independent Retailers

Yellow page advertising is expensive, especially for independent retailers. You pay for your yellow page ad every month, whether it pulls or not. In spite of this, some retailers do experience some success using them. Should your store have a yellow page ad? Learn the truth about what works (and doesn't work) when advertising in the yellow pages . . . more >>

KEY NUMBERS: Retail Industry Advertising to Sales Ratios for Calculating Your Advertising Spend

Do you know what percentage of sales your store should spend on advertising? Would you like to know what percentage other stores in your retail niche spend annually on their advertising? Use our list of retail advertising to sales ratios to see where your store stacks up . . . more >>

Lower Your Buying Costs: Successful Tactics for Getting the Best Price When Buying

Whether you are buying from a distibutor, the manufacturer, an importer, or a wholesaler, you will be doing business with a sales representative. Learn the exact questions to ask your rep in order to unlock better pricing and terms, get access to off-price merchandise, obtain co-op advertising, and more . . . more >>

PROFIT MAKING STRATEGY: Reduce Your Overhead Expenses by Joining a Retail Store Merchant Association
Bankcard processing fees and insurance premiums are only a small part of the cost of doing business, but they can account for a major portion of your expenses. Learn how joining a retail store merchant association may be the wisest move you can make in reducing your store's overhead and adding to your bottom line . . . more >>

PROFIT MAKING STRATEGY: How To Increase Sales And Profits by Bundling Products

To increase store sales, you can either get more customers, or get each customer to buy more. One very effective way to get them to buy more is by bundling like products into a "package price". Learn how successful retailers are using bundling to increase the amount of sales made per customer . . . more >>

How to Make Your Store's First Buy at a Trade Show or at Market

Making your first inventory buy at a trade show or market can be daunting if you're not prepared. Learn how trade shows and markets work and what questions to ask in order to obtain the best inventory pricing and terms . . . more >>

Why Your Exterior Sign is the Single Most Effective Investment You Can Make in Your Retail Store

Whether you already have an existing retail store, or are in the planning stages of opening up one, you need to be aware of how powerful your exterior retail store sign can be in drawing traffic to your business. Learn why the right sign can be both the least expensive and the most effective form of advertising you can have . . . more >>

Finding Your Store's Target Market: Why You Must Know Who Your Customers Are (and how it costs you if you don't)

Market to everyone and you'll waste money -fast. Market to your target market and your store has a very good chance of being profitable. Learn why successful independent retailers zero in on their target with a laser-like focus in order to get results . . . more >>

How to Save Up To $5000 Each Year on Your Credit Card Processing Fees
Everytime you accept a credit card, you give away part of your profit to the credit card processor in the form of credit card fees. Unless you are aware of how credit card fees "really work", you're paying more than you need to. Learn proven ways to increase your retail store profits by reducing your credit card processing fees . . . more >>

PROFIT MAKING STRATEGY: Why Joining a Retail Buying Group is One of the Most Profitable Moves You Can Make
Smart retailers understand that they make their money not when they sell, but when they buy. Knowing how and where to buy at the best pricing and terms allows you to run a more profitable business. Learn how joining a buying group allows independent retailers to have similar buying power as the mega-chains and big box retailers . . . more >>

Retail Store Shipping Costs: A Guide to Keeping Your Freight Costs Under Control

The cost of shipping your inventory from the manufacturer or distributor to your retail store impacts how profitable each item will be. Learn what you need to know in order to keep your shipping costs as low as possible . . . more >>

DOWNLOAD: Retail Store Location Comparison Calculator

There's no room for error when choosing the right location for your retail store. Pick a bad or less than adequate location and you severely limit the chances of success for your business. Use the Retail Store Location Comparison Calculator to compare the merits of different prospective locations. . . . more >>

Top 10 Common Retail Store Startup Mistakes That Jeopardize Your Business (and how to avoid them)

There are so many decisions that go into opening a retail store that even the best made plans may be missing a key ingredient. Miss one of these and you may not only set your business back by years but also hurt your prospects of survival over the long term. Learn the most common retail store startup mistakes and what you can do to avoid them. . . . more >>

RETAIL CALCULATOR: Retail Store Startup Expense Calculator

Use the Retail Store Startup Expense Calculator to quickly and easily determine how much money you need to properly open and run a retail business . . . more >>

How a Few Changes to Your Retail Store's Dressing Rooms Can Increase Your Conversions by 100%

Retail studies indicate that more sales are lost in the store's dressing room than anywhere else. If your dressing room is not up to par, you're throwing your advertising and marketing dollars down the drain by not closing your potential customers. Learn what changes you should make to your retail store's dressing room to convert more shoppers into buyers . . . more >>

SMART RETAILER'S SECRET: Customer Lifetime Value
Do you know how much value each customer represent to your business? Do you know how many times your average customer will buy from your store over several years? Learn how successfull retailers use customer lifetime value to make smart advertsing, marketing, and customer retention decisions . . . more >>

Click Here For More