Retailing is big business. That is, if $4 trillion a year impresses you. Big-box and franchise stores get a chunk of that, but a significant—and growing—percentage is done by small, independent retail stores that sell everything from abaci to zithers. The owners, typically one or two people who love what they sell, make a good living and enjoy their lives. Independent retail stores are lifestyle businesses. Maybe it's a lifestyle for you.
The problem is that so many business books are written for folks with loads of cash or credit, and they focus primarily on the profit side of business. Financial profit is vital to staying in business, but it isn't the only reason to open a store. There are many types of retailing rewards, and not all of them have a price tag. Most small business books don't cover the other reasons for retailing. They don't see the other side of owning your store: helping customers fulfill their needs, giving employees a living wage, and building your community.
The Everything® Guide to Starting and Running a Retail Store is written by lifestyle retailers for readers who are considering their own stores. Candidates have lots of questions. What can they profitably sell? What are the start-up costs? How much will their store make? How can it serve both the customers and the owner(s)? Should they sell online? How can a small retailer ever compete with the big-box stores like Wal-Mart, Target, and all the others that seemingly have everything in the world at low prices? These and hundreds of other questions are answered for you in this book.
There are many types of independent retail stores. All face about the same problems as they set up and operate. Chapters 1 through 4 will help you plan for retail success. Chapters 5 through 13 tell you what you need to know about starting your retail store. Chapters 14 through 17 offer specifics on running your store day-to-day. Chapters 18 through 22 show you how to build and, if you desire, eventually sell your store. Along the way you'll learn how to use technology to compete with big stores and how to increase profits with online sales. The appendices include retailing resources and a comprehensive glossary of retailing terms. The authors suggest that you read through the entire book before making a full commitment to retailing, then read it again once your store has begun and is growing.
To clarify basic business principles, the authors use Bob's Widgets as an example retailer. You'll see Bob's business plan and watch him start and run his store with practical tips and advice. In addition, sidebars offer additional information that you can put to work right now as you plan your own store. The sidebars include E-Fact (facts and statistics), E-Alert (cautions), E-ssential (tips), and E-Question (questions and answers), written to clarify and expand retailing basics.
Maybe lifestyle retailing is exactly what you're looking for. Maybe not. This book will help you make that decision based on real-world information and advice developed by experienced lifestyle retailers.
Please invite us to your store's Grand Opening! E-mail us at retail@danramsey.com.