Opening and running a store is a dream for many. But apart from dreaming, in practicality the running of a store requires equal amount of passion and hard work.
Setting up a store
First, setting up a retail store requires a lot of planning, and the thought that you dreamt of opening a store or you are passionate about your hobby or art are not the deciding factors for opening a store.
It is important to think of it from a business perspective:
• whether the market situation is favourable or not
• whether you can give your clients additional services or not
• whether you can meet demands or deadlines and deliver in time or not
Also, the finances need to be arranged beforehand. Another factor to consider is the store location, which depends on the target audience, local competitors, and budget. After keeping in mind all the factors and successfully opening a store is an achievement but that alone does not spell success and profits.
Managing a business
To run and manage a retail business successfully you need to be an efficient manager. The initial basic arrangements that need to be done to ensure smooth functioning of the store include appropriate lighting, shelves to store and display goods and window displays at adequate locations, maintaining and keeping tab of inventory and also scheduling staff. Another vital arrangement is to install security systems, such as the Bosch alarm systems, which can detect intrusions and thefts with deft.
A good manager has to after all keep the store safe from burglars and kleptomaniacs. After the store interiors and the security system and alarm system is taken care of, the job of a manager is only half done. These bosch alarm systems can be customised and programmed to suit specific needs pertaining to the business thus making it safe from break ins as well as from pilfering.
To manage a store, excellent people skills are mandatory, not just to handle customers but also for the staff. It is equally important to challenge and motivate the staff to achieve goals whether in the form of sales, profits, efficiency or productivity. To manage a store efficiently one must be able to delegate tasks well and encourage staff to achieve goals. Also, the channel for clear communication must be open and suggestions as well as new ideas must be welcomed. Employees should feel encouraged to share ideas along with problems too and the manager must chalk out directions and priorities clearly. After all, when the staff is happy and contended they work towards the betterment of the store willingly and put in genuine efforts.
Customer satisfaction is an important goal which the entire store management must work towards. Setting up a store and managing it efficiently requires dedication and hard work which can seem like a cake walk with the right attitude and trusted employees.