Tips for Building a Successful Retail Store
by Bob Bloom · INK & TONER USA · July 1, 2008 - page(s): 86
Bob and Jane Bloom offer some suggestions for you to consider for your ink and toner business:
1) Business Planning. Take the time to develop and execute a comprehensive business plan. Review the plan periodically. Adjust it as you learn from your good decisions, from your mistakes, and as your business grows and evolves.
2) Location, Location, Location. A good location can help make your business be successful. A bad location can make it very difficult to succeed. Rent is a factor, obviously, as a high rent can make it difficult to be profitable. But if sales are good, rent becomes less significant over time. If sales are bad, rent becomes an albatross, no matter what the monthly payment is.
3) Network, Network, Network. While a good location is important, it won’t bring in enough customers alone. You will need to execute a marketing plan. This may include outside salespeople, advertising, public relations, and other activities. For us, business networking has been essential to our success. Active involvement in chambers of commerce and other business groups can bring you customers that you’ll keep for the long term.
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This article will be available online on 01/01/2009
