How to open a store without going out of business
Mafpels trading blog
If you are planning to open a point of sale in a market or a shopping center, do not do it at random. You cannot just come here, set up a counter and wait for the money to flow like a river. If something goes wrong, you can easily go bankrupt.
Let's put everything on the shelves so that you do not end up among those who spent money on rent and goods, and ended up losing time and money. Mafpels company specialists will help you understand the nuances.
Let's put everything on the shelves so that you do not end up among those who spent money on rent and goods, and ended up losing time and money. Mafpels company specialists will help you understand the nuances.
Step 1: Choose a good location
Don't rush to the first available space. If it seems good to you, still think about why it is free. It may be an alarm bell, not a gift from fate.
Analyze three factors:
Recommendation:
Take a photo of the location, write down your feelings, see how the point looks in the morning, afternoon and evening.
Analyze three factors:
- Traffic. Stand near the location for an hour and see how many potential buyers pass by.
- Neighbors. If there are only vegetable kiosks nearby, and you want to sell equipment, this is not the best choice.
- General atmosphere. Dirt, noise, bad lighting - all this will repel customers.
Recommendation:
Take a photo of the location, write down your feelings, see how the point looks in the morning, afternoon and evening.
You'd be surprised how many people sign a lease without reading it. And then find out they can't put up a sign or work on weekends.
Read the contract carefully. Ask about restrictions on the range and design. Find out who is responsible for utilities, security and cleaning.
Recommendation:
Ask for a copy of the contract and show it to a lawyer you know.
Read the contract carefully. Ask about restrictions on the range and design. Find out who is responsible for utilities, security and cleaning.
Recommendation:
Ask for a copy of the contract and show it to a lawyer you know.
Step 2: Study the lease rules – read the fine print
A very common mistake is to buy several items for all the money, and then realize that this product does not sell. The golden rule: first test the demand. Start with a minimum assortment. Track sales by day of the week and time of day.
Recommendation from Mafpels trading:
Ask people what they are missing: real buyers will tell you better than marketers.
Recommendation from Mafpels trading:
Ask people what they are missing: real buyers will tell you better than marketers.
Step 3: Select a product and assortment
A customer has only three seconds to understand whether he is coming to you or passing by. Make sure that the window display is clean, neat and well-thought-out. The design style should be bright, but not flashy. Prices should be visible, and the goods should be easy to pick up.
Recommendation:
Take a photo of your point and show it to ten friends. Ask if they would like to come over?
Recommendation:
Take a photo of your point and show it to ten friends. Ask if they would like to come over?
Step 4: Design of the point
At the start, you can't "delegate" trade. No one will sell your product better than you. And the seller needs to be paid, supervised and trained.
First, work for at least a month yourself. Develop standards for working with clients: how to greet, how to sell, how to resolve conflicts.
Recommendation:
Take into account customer feedback - it will help improve the service.
First, work for at least a month yourself. Develop standards for working with clients: how to greet, how to sell, how to resolve conflicts.
Recommendation:
Take into account customer feedback - it will help improve the service.
Step 5: Sell yourself or assign someone you trust
When you open a business, count every penny, as recommended by MAFPELS. Without accounting, you can think “everything seems fine,” and then suddenly find yourself in debt.
And so:
Recommendation:
Set yourself a goal – not just to survive, but to make a profit. If the outlet does not bring in income, it needs to be changed, and not hope for a miracle.
Let's summarize. Opening a retail outlet is not a lottery, but a project in which everything depends on your preparation. Take your time.
Count, analyze, test.
You will definitely be able to make money if you approach the matter wisely.
And so:
- Keep a sales diary.
- Account for all expenses, even small ones.
- Sum up the results once a week.
Recommendation:
Set yourself a goal – not just to survive, but to make a profit. If the outlet does not bring in income, it needs to be changed, and not hope for a miracle.
Let's summarize. Opening a retail outlet is not a lottery, but a project in which everything depends on your preparation. Take your time.
Count, analyze, test.
You will definitely be able to make money if you approach the matter wisely.
Step 6: Accounting
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