A General Store Evaluation

A friend of mine asked "Why can't I get the foot traffic to come into my store?".  

Well I said lets evaluate your store.  The one thing we want to do is compare your store to the competition.  Why do they go in their stores?  The Store in question is a small general merchandise store.  About one third is clothing.  He sells at competitive prices, but doesn't specialize in any one area.

His competition in the same shopping center:

1.  Major Supermarket
2. Dollar Tree
3. Card and gift shop
4. Food Shops 
5. Post Office

Down the road (less than half mile)

1. Staples
2. CVS
3. Rite Aid
4. Another Supermarket
5. Marshalls
6. Toys R Us Express
7. Varies clothing and other stores

So I said first rule of retail is Location, Location, Location. 

 What makes this the right location for your General Merchandise Retail Store?

Are people going to come into your store for a specific reason. Or, are you just hoping that they will just come in to see what you have?   In a city this store might do well.  Somewhere where people have to walk and carry every thing they need.  In that case the closest store gets the business.  But given a choice, people will drive down the block or around the corner for a specific item.  Because he doesn't specialize in any one thing.  The customer can get the same merchandise while in another store.  

Example 

I can buy cleaning supplies in the supermarket.  I can get cheap items in Dollar Tree.  Get greeting cards at CVS.  By the time I do my other shopping I already bought everything sold in the general store except clothing.  But, because there is a wide range of clothing stores nearby, I'm less likely to shop in a small general store.  

So my answer is this is not the right location for a small general merchandise store.  Either move the store or change what you sell.   If the rent is so good, the foot traffic is there.  Then Change what you sell to something that people aren't going to get nearby.

What items sell the best?

His answer was gadgets, small impulse items, toys, small electronics.  I said well that your answer.  Specialize on those items.  Sell off the rest of your stock and slowly turn your store into a gadget selling store.

Keep your price range better than a dollar but not too high.   You want items they cant buy in the supermarket and better quality than the Dollar store.   Now if people want a decent charger for their phone, either they come into your for it or have to drive down the block.   By changing what he sells he will cut down on the local competition.

People too often open a retail store selling what they want to buy. And then think its what everyone else will want.   Sam Walton the founder of Walmart said that if you want to compete with Walmart you have to specialize.  General merchandise stores sell a little of everything.  Your choices are limited.   If your want model cars, your only going to find a few choices in a general store.  Where as a hobby shop may have dozens of choices.

If your set on owning a general merchandise retail store, I suggest you find the right location.  Somewhere where people don't have a local store.  If People have to drive a half hour to get to your competitor than that's the right spot

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How to be a Better Retail Store Manager!

How do you be a better retail store manager?

Ask yourself.  "Do I want to be a better store manager"?

"Can I be a better store manager than the last one"?

"How can I be a better store manager"?

" What's the benefits of being a better store manager"?

Having a retail store manager job is something to be really proud of. Part of you still might be nervous about your new management job.

You've probably been training as an assistant 

retail store manager, so are well aware of

the misconceptions of the store manager's duties.

We don’t need to tell you it’s more than being in charge of the store and keeping customers happy.

Your  role will involve being in charge of just the store’s sales, keeping an eye on stock levels, reordering supplies and managing and motivating your staff .

 You’ll also need to set an example to your employees and stick to company policies . It's a lot of work being a retail store manager but it's worth it.

Not sure what skills you're going to require to do the job?

How to keep the team happy?

Motivating your employees will become one of the most important parts of your job, without their help you’re in big trouble, and could even go out of business. So how do you keep your staff happy while still getting their respect?

• Take an interest
• Keep them in the loop
• Compliments cost nothing

Keep in mind how your felt when you were in there shoes.   Things that motivated you will Motivate your employees.  Things that disgruntled you will do the same to them.

Management styles

If you’re still lost and unsure about how to manage your team effectively, don’t panic! There are several different styles of management you can try.

A Better Store Manager is a Hands on Retail Manager.

• Work with your retail associates.  Teach them the right way and the wrong way to do the task at hand.  Show that your willing to help out when needed.   If your the manager who sits in the office and only comes out on the sales floor the critique, expect disgruntled employees.   
• Lead by Example!  The Ruff-riders followed  Teddy Roosevelt into battle.  He didn't stand back and say go charge up that hill alone. 

The Delegator  

Although it’s important to be aware of everything that’s going on, don’t do everything yourself, remember as manager it’s now your job to get more done than you can do yourself.

As long as you know what needs to be done, you can delegate the work to the best person and your store will still run efficiently. 

Stay Calm and Collected

Stay calm in a crisis and leave the excitement to your staff; remember if anything goes wrong the staff will look to you to lead the way. 

As a manager, you are  responsible for the whole team. You are the voice of reasoning for the group when dealing with company-wide issues. If your team let you down, you have to take it on the chin, but equally if they do well, you can be credited with the success – and that is the most rewarding part of the job.


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