Retailers Forum August 2019 E Mag

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Luxury Watch Wholesalers AUTHENTIC WATCHES • SINCE 1979 • CALIFORNIA LOCATION Rolex Breitling Tag Heuer Omega Panerai Montblanc Bell & Ross Oris Accessories Longines Baume & Mercier Michele Cartier Tudor IWC TISSOT CARSON SALE PRICE: $ 475 00 Retails for over $ 1,050.00 TAG HEUER LINK SALE PRICE: $ 2,995 00 Retails for over $ 6,500.00 MONTBLANC PROFILE ELEGANCE SALE PRICE: $ 450 00 Retails for over $ 1,980.00 MICHELE SEREIN SALE PRICE: $ 1,095 00 Retails for over $ 3,195.00 www.Watchdealers.net MONTBLANC TIMEWALKER SALE PRICE: $ 1,595 00 Retails for over $ 3,895.00 BREITLING MONTBRILLANT SALE PRICE: $ 4,275 00 Retails for over $ 8,6200.00 SMALL BUSINESS LOANS NO FEES to Secure a Business Loan or Merchant Account Banks denying your business loans because of poor credit? WE CAN HELP! CyoGate is associated with lenders focused on your cash flow. The business loans we facilitate typically range from $5,000 to $2,000,000 and are available to businesses located in the USA. • Revenue Based Loans • Term Loans • Merchant Cash Advance • A/R Invoice Factoring • Equipment Sale/Leaseback • SBA Loans www.FundingOffices.com Page 30 AUGUST <strong>2019</strong> | RETAILERS FORUM MAGAZINE
FORUM WORKSHOP forumworkshop RETAIL Operating Your RETAIL STORE STORE Operating Your Continued from last issue... Before you set out in search of your store location, review your notes on your market and customers. Are you sure enough people live in your market area to support the store you want to open? Unless you’re certain, and confident enough to risk your personal wealth, it may be wise to test consumer response to your concept before you make the full-scale investment a store requires. You may discover your market niche offers more sales potential when served by a retail business than by a specialty store. TESTING YOUR CONCEPT In the flea market you’ll have a chance to gauge consumers’ response for pennies on the dollar of the cost of a month’s rent for store space. If you find an eager reception from shoppers, the booth will also serve as a forum for promoting your forthcoming store. On the other hand, if you set up several weekends and don’t even recover your booth expenses, you may want to retool your concept. Before you do, try a couple of different flea markets. It may be that the first flea market failed to draw the people who’ll support your business. If you still experience problems after trying 2 or 3 different flea markets, then rethink your business. There are viable alternatives for a retail experiment that minimize your risks. So do you really need a storefront now? Isn’t there another way you could market products to your customers without physically setting up shop? In the initial stages of developing your retail business, it may be in your best interest to start of smaller, “field-test” your concept, and cultivate a consumer market in the process. Several sales avenues warrant investigation. OPEN A BOOTH AT A FLEA MARKET One of the easiest ways to test your concept is to open a booth at an area flea market. Once the last stop for grandma’s junk no one had the heart to throw out, flea markets are now the modern equivalent of the sales bazaars of the Old World. People of every description, and every income level, visit them for entertainment as much as for an opportunity to buy. SET UP A KIOSK IN A MALL, OR RENT A MINI-STORE Many shopping malls in the country now open their corridors to booth and kiosk sales, as well. Talk about a perfect place to test your concept! Floor space in the mall is by no means cheap, but requires much less investment than a store in the same mall. Some larger individual retailers also sublease mini-departments on their sales floor. For the mall or store this is an easy way to offer a broader selection of merchandise in the hope of attracting more shoppers. Either of these options can be used to test both the location and your idea for a store. If the ministore fails in the aisles, where traffic is greatest, it certainly won’t prosper as a full-size store set back into one of the available storefronts. continued... RETAILERS FORUM MAGAZINE | AUGUST <strong>2019</strong> Page 31
Page 1 and 2: etailers VOL. 39 NO. 3 AUGUST 2019
Page 3 and 4: Want More Info? Circle #15 RETAILER
Page 5 and 6: This is a Buying Guide for RETAIL S
Page 7 and 8: #1 BUYING GUIDE FOR RETAIL STORES!
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Page 11 and 12: etailers Reader Response FREE PRODU
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Page 15 and 16: ASD MARKETWEEK SHOWCASE BEAUTIFUL F
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Page 33 and 34: RETAILERS FORUM MAGAZINE | AUGUST 2
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