WHAT IS A SPECIALTY RETAIL SHOP?

A retail store is a business where merchandise products are sold to the public customers.  The products may be made by the shop owner or may be purchased wholesale from a third party supplier and then resold to the customer.

A specialty store is a type of retail shop that only sells one category of products.  Because of this a specialty store can have a larger and better selection of goods with in that category. 

A non specialty store sells a variety of merchandise like a grocery store or department store. 

a Hardware store would be a specialty store.  You can buy nails at any variety store.  But , if you need a specific roofing nail you go to a hardware or building supply store.   A hardware store specializes in all the different roofing products you might need.  While Walmart may only a few choices. 

Sam Walton founder of Walmart said that for small retailers to compete with Walmart they should open a specialty store.  A shop where the customer can find a larger selection of specialized goods and advice centralized around one line of products.   Walmart sells only the best sellers in each department. 

Here is a list of different types of Specialty Stores.

▪  Wedding Dress shop
▪  Children's Shoe Store
▪   Baby Furniture
▪  Comic Book Store
▪  Hobby Shop
▪  Ethnic Foods
▪  Book Store
▪  Office Supplies
▪   Jewelry Store
▪  Party Supply
▪  Pet Store
▪  Learning Toys
▪  Candles
▪  Team Shop
▪  Gourmet Foods
▪  Kitchen Gadgets
▪  Antiques
▪  Auto Parts

Any shop that specializes in one type of products.

Think and Grow a Rich Retail Business

     Use the principles of the Book "Think and Grow Rich" to build a strong professional retail company.

     So you have a somewhat successful retail store, or maybe not.  How do you grow a successful Retail business?  What am I doing wrong?

      It may not be your business that needs to change.  It might just be you that needs to grow.  Think of your retail store as your child.  You can spend thousands of dollars raising a child.  But if you don't feed them the right food, teach them right from wrong, and how to do things for themselves, they will rely on you to do everything.  

    It may be time to train your employees to take control of the day to day business. If your retail store can't run without you, your haven't done your job well enough to let go of the reins.  No matter how successful your business is, you will never have the time to open a second and third store. 

   There is a huge advantage to managing more than one retail store location.  If for any unforeseen reason something happens, fire, flood, or just low customer traffic, your not out of business. If one location fails the whole company shouldn't fail. There should always be a back up plan.  Everyone always thinks bigger is better.   I'd rather have 5 small retail stores that can work on their own, than one big one that relies on me for every decision.  

   This is why every retail business no matter how small in order to grow, you have to think and act like a large retail corporation.   Think And Grow a Rich Retail Business.  Each of your stores should run exactly the same.  Same merchandise, same point of sale systems, same procedures, etc.  This way if there's a problem, a sick call, someone from another one of your stores can be sent to fill in, and knows exactly what to do.  This leaves you free to do other things like buying, hiring, supervising and growing a rich retail business.  

   Think you can't and you won't.   Think you can do it and you just might be the next Sam Walton (founder of Walmart).

Think and Grow Rich is a state of mind.  Be positive and never give up!  You've made the first step by looking for help.  Set your goals high.  Don't be discouraged if you don't hit your goals the first try.  It just may mean your on the wrong path.  Just change the plan, never the goal, never give up.

Read both of these books.  The first is "Think and Grow Rich"  the other "Sam Walton Made in America".  They will set you on a path to success.






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15 Ways How Shoplifters Steal from Retail Stores and Create Shrink!

   A Shoplifter is described as a person who lifts or steals items from a shop or store.  There are many ways people do this. Here I will teach you the most common ways thieves steal from stores.  Once you know how they shoplift the more likely you will be able to spot them.
   
     Always be on the lookout for the odd person looking to see if he is being watched, also large groups and overly friendly people.  These overly friendly people usually distract you while their friends steal from you.

15 Ways How Shoplifters Steal from Retail Stores and Create Shrink!

• Shoplifters will Stuff merchandise in there pocket or conceal it in some way. Sometimes they steal the whole item. Other time they take it out of the package. 

• After all ready paying for one item at the cash register they walk back into the retail store and add things to their store logo shopping bag when no employee is watching.

• Thieves will put one item inside another. Such as putting a lunch box inside a school bag. If the cashier asks any questions the customer will say they thought they went together. Or they wedge merchandise inside wrapping paper tubes. A Thief will try anyway they can to hide the merchandise the want to steal.

• Shoplifters will open sealed boxes and put other loose items inside.An example would be opening a board game and placing a computer memory card inside the box. The Shoplifter then pays for the board game and  is getting the memory card free.

• Customers eat food while they shop. Leave the empty package and never pay for it a the register.

• Try on new shoes or clothing item and wear it out the of the store. Return to store with receipt for item purchased the same of different day and try to walk out with a new one waving receipt to prove he paid for it. If you don’t look at the receipt carefully you wouldn't notice it was and old receipt.

• Walks into store with nothing and brings item to register for return with no or old receipt. Just because some one hands you a receipt doesn’t mean they came into store with the item. They could of found the receipt on the floor and took the item off the shelf and try to return it for money. If you didn’t see the thief come in you have no proof. If you turn down the return he still walks out the door with free merchandise.

• They just carry items right out the door. Shoplifters wait until you turn your back and will just walk right out the door. Some times they use a partner that will try to distract the person covering the front door so the other person can take merchandise and walk out the door with it. I’ve seen a team of three work together. One drives the get a way car waiting in front. Second person distracts employees while third carries out full floor shippers or hand baskets full of merchandise right out the door into the car and takes off. The distractor acts like he’s not involved. They are so good at it sometimes you don’t notice it ever happened until you realize the display is missing.

• They don’t steal merchandise but from other customers. Picking pockets or stealing purses. Ever hear an announcement in a supermarket “ If you have the wrong cart please return it”. It is found down another aisle with out the purse that was left unattended.

• Shoplifters with take anything of value. A portable tv/dvd used for demonstrations. Put in a shopping cart and wheeled right out the door.

• Purposely letting very young children hold expensive items then walking out the door and having the child carry it. This way they can say it was an accident.

• Customer drops change on the floor over the register counter while cash draw is open. When cashier bends down to pick it up the thief takes money from register with out being seen. If seen he runs, if not you may end up blaming cashier for shortage. But whose fault was it. The Cashier or the managers for not teaching the cashier to never turn your back on an open cash draw.

• Counterfeit money. Thief may hide bad bills mixed in the middle of good ones so if you don’t look carefully at it you don’t notice.
  

  

• Confuse cashier while making change while still in middle of sale. Thief always walks away with more money then he should of.



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How much Technology do you need to Aid in Retail Sales and Good Customer Service?

Customer service is the most important part of any retail store.  No service to the customer and no business.  Most Retail Store managers and small business owners would agree that some kind of technology is needed in the aid of customer service.  But it should only be used to aid in customer service.   Audio, video, and computer technologies help in the aid of customer service but they can't replace a real person. 

How many people have gone into a Super Market or Mega Mart Discount store and couldn't find a price. Twenty years ago you couldn't find anyone to get you a price.  Now there are price checkers all around the store, if they work.

Nothing is more important to any retail business then a trained customer service force.  Scripting can be a help full tool for young inexperienced sales people, but they need to know how to use it.  You don't want a robotic sales force just going though the motions.

Information is key to learning to do any job correctly.  Teaching your sales people how to respond to customers is key. They have to be knowledgeable about what they are selling.  They need to know if an item is in stock,  price, when it will be coming into stock, what other stores may have it, other items that are like it, how it is used and other items that may tie in for extra sales. That where a computer come in handy.  Being able to give a customer the information they need on the spot is key to winning over the customer the the time you come back with the information.  Make them wait and they may be gone by They also have to know why the customer wants the item and if its is the right item for them.

 Scripting is a good learning tool if it is used to teach a sales person but it need to be adapted by the sales person in the aid of learning what the customer wants and guiding them into buying it.  No one wants a Robot just  asking scripted questions. 

Recently I was ordering at a well known fast food restaurant.  The sales person asked me If I wanted my meal medium or large.  I joked with her that I wanted it small.  She answered it doesn't come small.  I joked with her how can that be, "Medium" means in the middle.   How can you have a medium with out a small? The sales clerk didn't get it because they weren't taught to improvise and converse with people as if they were people.   All they know is my manager told me to ask medium or large?

New technology maybe coming soon is, when you scan your item at price check you can get more information about it.  Some have suggested a audio or video being used to sell or suggest other items that tie in with your scan.  

Use technology to help train and aid, but never try to replace a well trained sales person.

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How can Mom and Pop compete with Mega-Mart Stores.

Sam Walton founder of Walmart gave some good advice.  You don't have to compete with the Mega-mart to become successful.  Find a niche products and give the customer service and advice better than anyone else.  A good example would be Staples.  Where Walmart does sell office supplies and electronics, they don't have the selection that Staples or OfficeMax can offer.  They are cutting back on the craft supplies and selling more groceries.  Mega Marts like Target, Kmart and Walmart only sell a sampling of products in each department.  If you want a special item you'll need to go to a store that specializes in just that line of products. 


Find yourself a product that Mega-marts and Super Home Centers can only sell part of the selection. 
Ever go into a Home Depot and get help from someone who knew anything more than you already did?


Become and expert and let the public know your an expert.  Give the Customer Service unheard of at Target, and Walmart.  Don't compete with them, use them.  Rent a Store as close to them as you can, with a product and service they don't have. Use their customer traffic to promote your business. 


Go into any Mega-Mart and ask the clerk to find a book on writing a blog.  Yeah right, good luck.

If you want a special item you need to go to store that specializes in just that line of products. 

What makes a good Retail Store Manager?

A good Manager knows whats going on in his store at all times.   He is knowledgeable and able to answer questions from  both customers and associates with ease.   A Manager plans, organizes and delegates.  They are a good teacher and is willing to get dirty showing someone how to do the job.
A good retail Store Manager keeps calm and takes charge when needed.  He's respected by his associates for his integrity and diplomacy.  Above everything else they lead by example!

They Lead by Example! 

Learn what it takes to be a  Great  Store Manager!