Specialty Shop Retailing : Everything You Need to Know to Run Your Own Store

by Schroeder, Carol L.

• ISBN13: 9780470107416
• ISBN10: 0470107413
• Edition: 3rd
• Format: Hardcover
• Copyright: 2007-06-04
• Publisher: Wiley

Summary

Unlike other books on retailing,Specialty Shop Retailingis aimed at the reader who has a dream of opening a store, but little background in this type of business. The book takes into account the fact that their motivation is often not primarily monetary, but rather the intangible benefits of creating your own business and working with people and products that you love. This new and improved 3rd edition includes material about selling on the Internet, including eBay storefronts; online marketing and customer service improvements; and changes in the retailing field, such as competing with big box retailers and the demise of the sales rep system.

Author Biography

Carol L. Schroeder is the co-owner of Orange Tree Imports, a successful gift and kitchenware store in Madison, Wisconsin. She has over three decades of experience in specialty shop retailing, beginning with the Scandinavian furniture store she and her husband Dean transformed into a unique shop featuring gourmet products, toys, seasonal decor, foods, jewelry, stationery, soaps, and more. Orange Tree Imports was chosen as one of five Millennium Retailers in the United States by Gifts and Decorative Accessories magazine and was voted "Best in Business" by In Business magazine.

Table of Contents

Getting Started	p. 1
Finding Your Customers: Market Research	p. 2
Are You Ready for Retailing?	p. 5
Franchise Opportunities	p. 10
Buying an Existing Business	p. 12
Starting Small or Staying Small	p. 14
Writing a Successful Business Plan	p. 16
Selecting Your Legal Format	p. 18
Financing Your Business	p. 21
Getting the Necessary Permits and Licenses	p. 25
Finding the Perfect Location	p. 25
Naming Your Store	p. 30
Developing a Logo	p. 31
Where to Get Help	p. 32
Ready Set, Go!	p. 34
Managing Your Store's Finances	p. 36
Setting Up Your Sales System	p. 37
Bookkeeping 101	p. 43
Understanding Financial Reports	p. 47
Working with an Accountant	p. 48
Creating Budgets and Future Planning	p. 49
Tips for Taking Inventory	p. 50
Business Office Essentials	p. 51
The Bottom Line	p. 53
Successful Store Design	p. 54
Establishing a Design Budget	p. 55
Updating Your Look by Remodeling	p. 56
The Perfect Design Concept	p. 57
Welcome: The Storefront and Entranceway	p. 58
Efficient Layout Plans	p. 61
Well Grounded: Flooring Materials	p. 63
The Backdrop: Wall Treatments	p. 64
Lighting for Effect	p. 64
A Different Kind of Overhead: Ceilings	p. 66
Selling on Several Levels	p. 67
Maximizing Merchandise Fixtures	p. 68
Interior Signage that Sells	p. 71
Checking Out the Cash Wrap Area	p. 75
Store Security Concerns	p. 77
Background Music for Shopping Pleasure	p. 78
Creating an Aromatic Environment	p. 79
Restrooms, Offices, and Other Backstage Needs	p. 81
Gathering the Goods: Merchandise Buying	p. 82
Targeting Your Typical Customer	p. 83
Establishing a Buying Budget	p. 84
Where to Look for Great Merchandise	p. 86
Knowing What to Order	p. 87
Determining the Quantity	p. 89
Stretching Your Budget by Consignment	p. 90
Developing Original, Exclusive Products	p. 91
Higher Margins through Direct Importing	p. 94
Keeping Inventory under Control	p. 95
Tracking Sales for Reorders	p. 97
Seasonal Planning Tips	p. 99
Buying for Displays and Promotion	p. 102
Benefiting from Working with Sales Reps	p. 102
Buying Trip Tools	p. 104
Establishing Your Store's Financial Credibility	p. 110
Using Purchase Order Forms Efficiently	p. 113
Professional Ordering Procedures	p. 113
Specifying Shipping Preferences	p. 117
Setting Retail Prices	p. 118
Developing Beneficial Vendor Relations	p. 121
Visual Merchandising: Displays that Sell	p. 124
Check-in Time for New Arrivals	p. 125
Coping with Problem Shipments	p. 127
Pricing the Merchandise	p. 131
Getting the Goods on Display	p. 135
Maintaining Merchandising Excellence	p. 138
Using Store Windows Effectively	p. 139
Visual Merchandising in the Future	p. 149
Finding and Keeping Great Employees	p. 150
Do You Need Employees?	p. 150
Enlightened Leadership: Participative Democracy	p. 151
Hiring for Special Job Functions	p. 153
Appealing to a Shrinking Workforce	p. 155
Where to Look for Good Employees	p. 156
The "How to Hire" Guide	p. 158
Government Forms for New Employees	p. 165
The Employment Agreement	p. 167
Staff Training on Store Procedures	p. 170
Your Store's Employee Handbook	p. 171
The Importance of Flexible Scheduling	p. 173
Compensating Your Staff	p. 176
Attractive Benefits and Perks	p. 180
Using Open-Book Management	p. 186
The Importance of Employee Evaluations	p. 187
Correcting Performance Problems	p. 190
Saying Goodbye: The Exit Interview	p. 193
Creating Team Spirit	p. 194
Customer Service Essentials	p. 199
Motivating Employees to Give Great Service	p. 201
Time to Shop: Setting Store Hours	p. 205
Setting a Customer-Friendly Return Policy	p. 206
For Customer Convenience and Comfort	p. 213
Services that Exceed Customers' Expectations	p. 217
Added Sales through Wedding and Gift Registries	p. 225
Hot Trend: Gift Cards and Gift Certificates	p. 227
Special Service: Customer Orders and Holds	p. 229
Evaluating Customer Service	p. 232
Getting the Word Out: Advertising Your Shop	p. 235
Establishing an Advertising Budget	p. 236
Tools for Targeting Your Market	p. 238
Choosing the Best Media for the Money	p. 238
Should You Use an Ad Agency?	p. 239
Using Co-op to Stretch Your Budget	p. 240
Welcome to the World of Print Advertising	p. 242
Effective In-Store Advertising	p. 247
Direct Mail: Making the Best Use of Your List	p. 250
Broadcast Media: Radio and Television	p. 256
Retailing Online: The Next Wave	p. 259
Evaluating Your Advertising's Effectiveness	p. 260
Advertising When Sales Are Down	p. 261
Using the Internet to Promote and Prosper	p. 262
Establishing Your Home on the Web	p. 263
Advertising Online: Web Site Essentials	p. 263
Using E-mail for Customer Contact	p. 265
Permission Marketing via E-mail	p. 266
Keeping in Touch with Staff: Internal E-mail	p. 268
Bricks to Clicks: Selling Online	p. 268
Choosing Your Approach to Online Sales	p. 270
Shopping Basket Security Issues	p. 271
Better Service via the Web for In-store Customers	p. 272
Filling Internet Orders Efficiently	p. 273
How to Draw Customers to Your Web Site	p. 274
Creative Promotion and Publicity	p. 276
Sales, Sales, Sales	p. 277
Alternative Ideas for Promotions	p. 280
Rewarding Customer Loyalty	p. 283
Catering to Consumers through Collectors' Clubs	p. 285
Special Events to Attract Shoppers	p. 286
Taking It On the Road: Events Outside the Store	p. 293
Garnering Publicity and Good PR	p. 294
Beating the Big-Box Stores	p. 299
Finding Your Special Niche	p. 300
Offering Stellar Customer Service	p. 300
The "Buy Local" Call to Action	p. 301
Independents' Day Is Here	p. 303
Turning the Tide on Big-Box Development	p. 304
What to Do When Wal-Mart Comes to Town	p. 305
Good Works Are Good Business	p. 307
Charitable Donations: What and Where to Give	p. 307
Hosting Fund-Raisers and Benefits	p. 311
Selling Goods That Do Good	p. 312
Museum and Hospital Shops: Retailers Who Serve	p. 314
Environmentally Sound Retailing	p. 315
Giving Something Back to the Community	p. 322
Providing Community Leadership	p. 325
Volunteering Your Time	p. 327
The Rewards of Giving	p. 328
Managing during Tough Times	p. 329
Insuring Against Crime, Disasters, and Other Crises	p. 330
Curtailing Shoplifting and Employee Theft	p. 331
Preventing Burglaries and Holdups	p. 335
Fires, Storms, and Natural Catastrophes	p. 336
What to Do When Disaster Strikes	p. 338
When You Lose Your Lease	p. 338
Customers Can Be Trouble	p. 339
Coping with Vandalism and Graffiti	p. 340
Surviving Personnel Problems	p. 340
When You're in Financial Trouble	p. 342
Responding to Bad Publicity	p. 346
Keeping an Upbeat Attitude	p. 346
Improving Sales and Profitability	p. 348
Boosting Your Sales Income	p. 349
Growing Sales through Relationship Marketing	p. 350
Targeting Luxury Shoppers and Corporate Sales	p. 351
Markup Can Make Up Your Margins	p. 354
Expenses Down = Profits Up	p. 354
The Dangers of Too Much Inventory	p. 356
Plugging the Holes	p. 357
Staying Alert to Changes	p. 357
Looking to the Future	p. 358
Riding the Wave of Success	p. 359
Small Can Be Beautiful	p. 359
If You Decide to Grow Your Business	p. 360
Moving On: Selling or Closing Your Store	p. 365
Life Planning Issues for Shopkeepers	p. 370
Running the Mature Business	p. 372
The Outlook for Retailing Is Bright	p. 373
Glossary	p. 375
Resource Guide	p. 391
Index	p. 399
Table of Contents provided by Ingram. All Rights Reserved.