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All businesses need to have a plan, a road map to where you are heading and how you are going to get there. 

Successful retailers plan well and deliver in all the key areas.  Running a small retail business is hard work in today’s market and you need a strong set of skills in all areas to succeed.  The product and service is right, but the business is overstocked and has cash flow problems due to lack of financial planning.

Brian will take you through the seven keys steps to making the journey successful.

 

 

 

Retail Growth

 

1. Strategic Planning

  • What is your vision?

  • How are you going to get there?

  • Where is the business at today?

  • How will you achieve your goals?

  • Develop action plans

  • Understanding your competition

  • SWOT analysis

 

 

Strategic Planning

2. Know Your Target Market  

  • Who is your customer?

  • Is your product offer aligned?

  • Who are your competitors?

  • Changing market place

  • Gaining new customers

 

 

3. Product Offer  

  • What is your core offer?

  • Do you have a point of difference?

  • Looking at trends

  • Buying plans and budgets

  • Category management by sales, stock levels, stock turn and margin

  • How to increase sales?

  • How to reduce markdowns?

  • Establish the right suppliers

 

 

4. Financial Planning   

Customer Service
Visual Merchandising
Financial Planning
  • Developing retail budgets

  • Profit and Loss reporting

  • Cash flow management

  • Monthly comparison of actual to budget

  • Margins

  • Stock control management

  • Lease negotiations

  • Financial control

 

 

5. Marketing Plan  

  • How to drive sales?

  • What market do you own?

  • In store promotions

  • Yearly marketing plan that supports the buying

  • Measure performance

  • Online shopping

 

 

 

6. Visual Merchandising

  • Effective store layouts

  • Create an experience

  • Tell your story

  • Make an impact

  • Attention to detail

  • Overseas trends

 

 

7. Customer Service  

  • Do your people have the right skills?

  • Define the culture and values

  • Position descriptions and appraisals

  • Incentives schemes

  • Training needs analysis

  • Customer service standards and product knowledge

 

 

 

Contact

  Mobile:           0433 050 493

  International:  +61 433 050 493

  Email:            brian@pointretailconsulting.com.au

 

 

Point Retail Consulting & Training

 

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