ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Great Deals 205: "New & Like New Shoppe"

Updated on July 26, 2017

Great Deals

Signage is of utmost importance when running a retail store. Offers great deals and make sure everything is properly priced.
Signage is of utmost importance when running a retail store. Offers great deals and make sure everything is properly priced. | Source

Store Setup & Layout

The store layout is very important for workers and customers alike. Great Deals 205 will be split down the middle with like new items on the left and brand new merchandise on the right. Also, on each side, the items will be in departments which are men's, women's, home, electronics, books and gifts. Men's department will have men's clothing, shoes and accessories. The women's has clothing, shoes and accessories. The home department will have appliances, furniture and wall décor. Electronics will have music, DVDs, phones, computers, etc. Books are separated into paperbacks and hardcover. Then they are listed by the author's last name. Make it easy for customer to locate what they want and you will have more sales in the long run. Sales equal profit. Have a public restroom in the rear of the store for all customers and potential customers.

Decorate the Mannequin

Decorate your mannequins with nice, matching clothing and accessories.
Decorate your mannequins with nice, matching clothing and accessories. | Source

Merchandising & Salesfloor Decorating

Merchandising the sales floor, along with proper pricing signs are the cornerstones of the sales floor. Appearance is everything to a customer. Always have full endcaps, walls and main entrance items completely full. Cross-merchandising is important. Put things such as batteries near flashlights to bring in extra sales. Also, put items up front for easier view and location for the matters of the day. An example is to have umbrellas near the entrance of the store when it has a terrible storm coming in. This is also an example of impulse buys which are perfect items to put at the checkout counter.

Inventory and Organization are Key

It is very important to have a well kept, organized stockroom and it helps with monthly inventories.
It is very important to have a well kept, organized stockroom and it helps with monthly inventories. | Source

Maintaining the Stockroom

A junky, disorganized stockroom will eventually affect the sales floor and your sales in the long run. When it comes to the backroom, organization is the key. If you have everything in order it is easier to find for stocking the sales floor, doing inventory and ordering more products. If the backroom is dirty and out of order the sales floor will suffer greatly. Plus, less of a mess means less chance of silly injuries. Make sure and sweep the floor several times per day and always keep any and all fire exits unblocked. One reason for this is for safety concerns and another reason to keep exits unblocked is because you can be heavily fined by OSHA. Clean, organized and looking excellent is the only acceptable way to have a stockroom other than for a few hours while unloading a stock truck.

Ownership?

Have you ever owned a retail store?

See results

Office Operations

Operations is just as important as the stockroom and the sales floor.This consists of cash office duties, logistics and maintaining and affecting all office duties in a profitable manner. Take deposits to the bank everyday of the week. Start out register tills with $200 and count down all registers after each shift. Only accept checks from in the state of Alabama and the customer must present a valid I.D. at the time of the transaction. You have to keep up with every single dollar, all checks and credit cards.

Signs Are Vital (Vital Signs)

Signs should stand out for the customer and everything should be priced so the customer has no doubt of the price.
Signs should stand out for the customer and everything should be priced so the customer has no doubt of the price. | Source

Store Signage

All signs in the store should be easy to read and the prices should be readily available. Always have everything properly priced and easy to see for the customer. If an item is on sale it needs to standout by using a starburst sign or some other bright sign. Having sales ads each week is a great idea and a clearance section in one specific section of the Shoppe is a smart idea. Always have either Coke or Pepsi machines and even one snack machine outside in the store front. Another way to squeeze extra profits is to use consignment merchandise such as gumball machines and racks full of DVDs or CDs. Maybe even phone charges on consignment.

Store Departments

Electronics/ Music
Games/Toys
Books
Women's Clothing
Men's Clothing
Home Goods
Gifts
Accessories
 
 
 
 

Weekly Merchandise Sales

Profit and Loss statements can help you see sales and you can find out which areas and items in your store are in your top five. Shrinkage due to theft and broken items should be monitored and eliminated to the best of our abilities. Either have a loss prevention or security guard inside the store to help prevent theft. It is a smart plan to have weekly business meetings to discuss sales, successes and failures with all associates.

How to Run a Successful Small Business (Video)

Brick & Morter and Online Sales

Combining the sales of your concrete store and online store are important. If you sale an item on Amazon it is vital to take the item off the shelf at your physical store and vice versa. Meaning, if you sell an item at the physical store take it off of Amazon so that it will not sell twice. The two stores shall work in unison as one entity and both will have major success and always give business cards to paying customers at your physical store so they have your online store web address in their possession. Always present the customer a receipt and any sales ads you may have in order to garner repeat business. For online sales make sure the item is correct, packaged in the right box and shipped without an incident.

Starting a Retail Store (Video)

Future Projects For the Great Deals 205 Brand

Besides the "Great Deals 205 New & Like New Shoppe". opening Great Deals gas stations, book and gift stores and more can happen if we never stop trying. Branding is a must and getting your image out there to the public. 205 stands for the area code in Birmingham, Alabama. Future expansion could include Great Deals with other area codes in the place of 205. A properly made business plan should be formulated and put to paper for two reasons. One is because it is your blueprint or guide and another reason is in case you need a loan to finance your store then you need a business model along with excellent credit. Teamwork makes the dream work so get a great team together and make a go of it.

© 2017 Buster Johnson

Comments

    0 of 8192 characters used
    Post Comment

    • lesliebyars profile image
      Author

      Buster Johnson 8 weeks ago from Alabama

      Thank you my friend. I hoe to have it open in 8 months.

    • Angel Guzman profile image

      Angel Guzman 8 weeks ago from Joliet, Illinois

      I've daydreamed about opening a restaurant but a store could be fun. Very well thought out and written for the entravanuers and veteran businessman alike.