"Business opportunities are like buses, there's always another one coming." - Richard Branson
The vibrant domestic market in India is throwing up unprecedented opportunities in the garment sector specially for the upcoming entrepreneurs. Some of the clothing manufacturers in India, who have been supplying goods to the reputed global garment and accessory retailers, are now toying with idea of launching their own brands. Few of the garment accessories suppliers sums up the general mood as " The investors are willing, the policies are favourable and by all angels this seems like an idea whose time as come! "
Recent news report confirms the fact that the organised garment & accessories sector currently valued at around Rs 320 billion, is projected to increase up to Rs 900 billion (approx.) in just about next five years.
Garment accessories exporters are willing to take this risk though not at the cost of diverting their attention from exports."We will continue to export the same volume which we are doing right now, though wouldn't mind venturing into launching our brands through some foreign partnerships or tie-ups" says one of the garment accessories manufacturer.
Industry insider confirms that amongst the Indian apparel manufacturers, those who are firming up plans to launch new brands or expand existing brands include Mandhana Industries, Orient Craft, SP Apparels and the South India based Royal Classic Group.
These companies hope to attract overseas investors or forge a tie-up with global brands, in accordance with current government of India policy, wherein, 51 percent FDI is permitted in single-brand retail.
Garment accessories, including cloth, zippers, buttons, labels account for around 30% of the total garment sector. Garment accessories suppliers are an important cog in the wheel of the entire garment business chain. Any change in the supply demand cycle will certainly affect the big players and could benefit the buyers due to increased competition.
Globally the scenario isn't as rosy. The USA is just out of the slump and expectedly would take sometime before going aggressive again. In other developing countries like Bangladesh etc. the situation is more grim due to difficult working conditions and harder trade restrictions.
The Indian garment industry is one of the well organized sector in India, far from reaching its saturation thus giving ample scope of opportunities to both the new and existing players. Industry analysts are keeping a constant watch on the upcoming developments with their fingers crossed.
Saturday, December 4, 2010
Receiving Area
Receiving new stock in a retail store needs to be a disciplined process if the business is not to lose money from lost, damaged or stolen goods.
Too often, retailers focus on the front of hours, the retail shop floor, to the detriment of the back of hours, back office functions which can make or break a retail business.
Many retail businesses do not even have a receiving area where goods coming into the business are placed and processed. This is a huge mistake.
I was involved with one retail business recently where more than two thousand dollars worth of stock was uncovered when we were reorganizing the back room. This stock, which have been thought to have been lost, was found hidden in a wall cavity behind a desk.
The cost to the business was not only the cost of the stock which was unsaleable when found but also the opportunity cost. This was a new line which the head office had ordered to trial. The stock loss was covered up. This was able to be done because of a poor goods inward process at the store level.
Here are some simple rules for organizing the receiving area of a retail store which should help avoid lost stock, mistakes and theft:
Require that all goods arriving in-store must be signed for.
Lay out goods inwards rules and responsibilities. Post these in a public place in your business but away from customers. Train all new employees in the process.
The process needs to explain the steps involved in getting new stock from its arrival in the business to the shop floor and how long this should take.
Set aside an area, no matter how small, where all goods are placed when they arrive into the business. Include in this an area for each step of the inwards process: receiving, checking, pricing, storage and damaged goods.
Establish a rule that the goods are not allowed to leave this area without permission of a manager.
Follow a clockwise approach as this is often found to work best. The goods come is and are placed to the left of a back room or a storage apace and move right to the next section and so on. If the business as such space of course.
Management should check in the stock arrivals process to ensure that processes are being followed and appropriate checks and balances are working.
Try and get your suppliers to provide you with invoices electronically before the goods arrive. This will save time and paperwork. It will also provide an external data feed and eliminate an opportunity for employee fraud should they receive less stock into the business than you actually receive.
Once you have established your goods inwards process and area, get all employees together and explain the new processes to them. Lay down your business rules and explain why you are going through this process.
Get the goods inward process right and you can expect to receive shrinkage, speed up the time it takes to get stock to the shop floor, reduce mistakes and make better quality business decisions.
Too often, retailers focus on the front of hours, the retail shop floor, to the detriment of the back of hours, back office functions which can make or break a retail business.
Many retail businesses do not even have a receiving area where goods coming into the business are placed and processed. This is a huge mistake.
I was involved with one retail business recently where more than two thousand dollars worth of stock was uncovered when we were reorganizing the back room. This stock, which have been thought to have been lost, was found hidden in a wall cavity behind a desk.
The cost to the business was not only the cost of the stock which was unsaleable when found but also the opportunity cost. This was a new line which the head office had ordered to trial. The stock loss was covered up. This was able to be done because of a poor goods inward process at the store level.
Here are some simple rules for organizing the receiving area of a retail store which should help avoid lost stock, mistakes and theft:
Require that all goods arriving in-store must be signed for.
Lay out goods inwards rules and responsibilities. Post these in a public place in your business but away from customers. Train all new employees in the process.
The process needs to explain the steps involved in getting new stock from its arrival in the business to the shop floor and how long this should take.
Set aside an area, no matter how small, where all goods are placed when they arrive into the business. Include in this an area for each step of the inwards process: receiving, checking, pricing, storage and damaged goods.
Establish a rule that the goods are not allowed to leave this area without permission of a manager.
Follow a clockwise approach as this is often found to work best. The goods come is and are placed to the left of a back room or a storage apace and move right to the next section and so on. If the business as such space of course.
Management should check in the stock arrivals process to ensure that processes are being followed and appropriate checks and balances are working.
Try and get your suppliers to provide you with invoices electronically before the goods arrive. This will save time and paperwork. It will also provide an external data feed and eliminate an opportunity for employee fraud should they receive less stock into the business than you actually receive.
Once you have established your goods inwards process and area, get all employees together and explain the new processes to them. Lay down your business rules and explain why you are going through this process.
Get the goods inward process right and you can expect to receive shrinkage, speed up the time it takes to get stock to the shop floor, reduce mistakes and make better quality business decisions.
Michaels Coupons
With the economy fluctuating each and every day, the cost of living has increased affecting the way people shop. As a result of this people are now shopping less leading to the closure of stores around the world due to lack of customers. But now more stores are attracting more customers by making shopping cheaper and easy. These stores offer tremendous discounts on anything from the basic necessities like clothing and food to pleasurable items. One of the largest chain of stores adopting this is the Michaels chain of stores.
Michaels, stores.Inc is one of the largest retail stores in the United States which deals with arts and crafts. Its first chain of store was founded in 1984 in Irving, Texas. After a few years, Michaels became a publicly renowned company which led to its expansion to over 1000 stores up to date. With time the chain covered a total of 500 locations with seven distribution centers located in 49 states in the US mainly Texas, Pennsylvania, Washington, Florida, Illinois and California. These distribution centers supply the stores with the merchandise every week; this is done by a transport network that uses contract carriers and trucks to deliver the stock. Michaels offers a range of 37,000 products consisting of beads, scrap books, picture frames, home décor items, artificial flowers, even paper and paint and so much more.
Due to its tremendous growth rate, it has been able to provide its customers with the famous Michaels coupons. These coupons help the customer save money by reducing the price of the products. There are usually two types of coupons: printable coupons and promotional offers. Printable Michael coupons can be found on Michaels.com website and several other websites that have collaborated with it; these websites like Savings.com or UltimateCoupons.com offer the featured Michaels coupons online whereby people interested in the goods available are offered discounts in terms of percentages off or dollars off. These coupons are issued weekly and the public is notified by an ad in the Sunday paper or online through the main website. These coupons last for a period of time before they expire then new coupons are advertised thus making it still interesting.
With printable Michaels coupons upcoming artists and people just interested in art and craft can now afford to undertake their craft projects without having to dry out their bank accounts; so just log in to Michaels website, sign up and enjoy the numerous offers provided.
Michaels, stores.Inc is one of the largest retail stores in the United States which deals with arts and crafts. Its first chain of store was founded in 1984 in Irving, Texas. After a few years, Michaels became a publicly renowned company which led to its expansion to over 1000 stores up to date. With time the chain covered a total of 500 locations with seven distribution centers located in 49 states in the US mainly Texas, Pennsylvania, Washington, Florida, Illinois and California. These distribution centers supply the stores with the merchandise every week; this is done by a transport network that uses contract carriers and trucks to deliver the stock. Michaels offers a range of 37,000 products consisting of beads, scrap books, picture frames, home décor items, artificial flowers, even paper and paint and so much more.
Due to its tremendous growth rate, it has been able to provide its customers with the famous Michaels coupons. These coupons help the customer save money by reducing the price of the products. There are usually two types of coupons: printable coupons and promotional offers. Printable Michael coupons can be found on Michaels.com website and several other websites that have collaborated with it; these websites like Savings.com or UltimateCoupons.com offer the featured Michaels coupons online whereby people interested in the goods available are offered discounts in terms of percentages off or dollars off. These coupons are issued weekly and the public is notified by an ad in the Sunday paper or online through the main website. These coupons last for a period of time before they expire then new coupons are advertised thus making it still interesting.
With printable Michaels coupons upcoming artists and people just interested in art and craft can now afford to undertake their craft projects without having to dry out their bank accounts; so just log in to Michaels website, sign up and enjoy the numerous offers provided.
Wednesday, September 1, 2010
Used Mannequins
Starting a new retail store is a very critical issue, it needs a large capital funds in order to set up everything in your store. For example, you need to spend money for decoration, you need to spend more on the merchandise you are selling and finally you need to spend money for the displaying fixtures.
Buying mannequins is one of the items that consume a lot of money. Some store owners would think of buying used mannequins but, is this good idea or not. Well, the answer for such question is not that easy because the word "used" includes several categories that come in different prices. Any store owner should make sure of what he is buying in order to be able to save money or else, he will end up paying more money than buying new mannequins.
First of all, you should inspect the quality and the status of the used fixtures and mannequins you are buying. It is imperative to get good quality mannequins or they won't be able to display the items you are selling in a good way. For example, imagine you are buying dented and scratched mannequins for a very low price and you are going to use such mannequins in your store, are they going to be good? The answer is definitely no.
If you are a retail store owner than you need to look at the liquidator stores in order to find those offering used mannequins with good quality. Try aiming for stores that are closing out and selling their stuff. This could be a good source of mannequins that are used but, with good quality. Avoid garage sales because all you would find there would be low grade mannequins.
Buying good quality pre-owned mannequins would save you a lot of money only if you are able to locate good quality ones. So, your primary goal is to find them and to make sure of the quality before you proceed with the purchase.
Before you start your search make sure that you determine how many mannequins you need, how many full length, how many upper half and how many lower half mannequins you need for your store. This is very important because most probably you won't find all what you are looking for in one place. This means you need to collect your mannequins from different stores and locations.
The last point is determining which type of mannequins you should go for. Wooden mannequins show wear and tear easily. A used one of this type would show many dents and scuffs if they have been used before. On the other hand, plastic mannequin is a better choice as they won't show the same level of wear and tear even if they have been used before.
Finally, make sure that you have checked the fixtures of your used mannequins as you may need to buy some new fixtures for the mannequins that you have purchased with a good price. Make sure you are getting a good deal for your mannequins and buy some extra ones as a reserve.
Buying mannequins is one of the items that consume a lot of money. Some store owners would think of buying used mannequins but, is this good idea or not. Well, the answer for such question is not that easy because the word "used" includes several categories that come in different prices. Any store owner should make sure of what he is buying in order to be able to save money or else, he will end up paying more money than buying new mannequins.
First of all, you should inspect the quality and the status of the used fixtures and mannequins you are buying. It is imperative to get good quality mannequins or they won't be able to display the items you are selling in a good way. For example, imagine you are buying dented and scratched mannequins for a very low price and you are going to use such mannequins in your store, are they going to be good? The answer is definitely no.
If you are a retail store owner than you need to look at the liquidator stores in order to find those offering used mannequins with good quality. Try aiming for stores that are closing out and selling their stuff. This could be a good source of mannequins that are used but, with good quality. Avoid garage sales because all you would find there would be low grade mannequins.
Buying good quality pre-owned mannequins would save you a lot of money only if you are able to locate good quality ones. So, your primary goal is to find them and to make sure of the quality before you proceed with the purchase.
Before you start your search make sure that you determine how many mannequins you need, how many full length, how many upper half and how many lower half mannequins you need for your store. This is very important because most probably you won't find all what you are looking for in one place. This means you need to collect your mannequins from different stores and locations.
The last point is determining which type of mannequins you should go for. Wooden mannequins show wear and tear easily. A used one of this type would show many dents and scuffs if they have been used before. On the other hand, plastic mannequin is a better choice as they won't show the same level of wear and tear even if they have been used before.
Finally, make sure that you have checked the fixtures of your used mannequins as you may need to buy some new fixtures for the mannequins that you have purchased with a good price. Make sure you are getting a good deal for your mannequins and buy some extra ones as a reserve.
Employment in a Retail
Finding a job vacancy in retail can be a challenge. Many vacancies are not advertised. Those that are are quickly snapped up because of the number of people looking for work. This is why you need a plan to land a retail job.
It takes hard work and commitment to land the job you want, it will rarely just fall into your lap. Like anything good in life, that which you have planned and worked for is more appreciated. This is especially true in landing a retail job since many opportunities fly under the radar.
The following advice not only helps you identify roles, it also helps sell you since that is what is most crucial in finding a job in a retail store, selling yourself, showing that you are the person the business should hire to help them grow the business.
Before you start looking for retail work, get stuck into some preparation. Take your time to think carefully about and work through these four points:
1. What type of retail job are you looking for? What type of retail, the hours, the location and the position within the business? It is important to know exactly what you are looking for.
2. Prepare your documentation package. Your documentation package should contain the information whichsells you. This ought to include an introductory letter, your resume (or CV as it can be called), references from past employment, police or security check (if appropriate to the role) and and other information which sells you.
3. Prepare yourself for making the pitch. Do you look the part for the type of store you want to pitch yourself to? If not, maybe this retail store is not for you. Think about that carefully. There is no point in looking like someone you are not. Alternatively, some simple work could make you look more appealing and appropriate to the business. Remember, it is a buyers market.
4. How will you sell yourself? prepare and rehearse several pitches: the 30 second intro, the two to five minute pitch and the fifteen minute presentation where you reveal your skills and passion for the business. The different pitches will help you prepare for the different situations you encounter. Practise in front of the mirror and with friends who will provide honest feedback.
With preparatory work done, you can turn your attention to actually looking for your ideal retail job. Here are some simple steps to follow:
1. Walk the shopping malls. Look at retail stores from the perspective of an employee. Develop a list of retail stores which interest you. Make sure that your interest in them will make a good and believable story as it is bound to be covered in an interview if you get to that point.
2. Research opportunities online. Research your shortlist of retail stores online. Visit their website, Facebook page, Twitter feed, MySpace page, blogs and any other online forum where you can find out more about them. If appropriate, comment on their blog - a good comment could get their attention.
3. make the move, offer yourself. Visit the retail businesses on your shortlist. Drop off your package and make a brief pitch. Keep your initial contact brief yet memorable - you want the people you com in contact with wanting you working for the business.
4. Follow-up after your initial contact. A day or two after your first contact, make a second contact with the retail store by a different means. If you dropped in on the first contact, follow up with a brief letter. If you first contacted the business by mail, drop in. Keep your follow up light.
The key message about finding a retail job is that you know what you want, have a plan and pursue your goal relentlessly, professionally and with passion. Passion is the key as this is what is more likely to win you the job.
It takes hard work and commitment to land the job you want, it will rarely just fall into your lap. Like anything good in life, that which you have planned and worked for is more appreciated. This is especially true in landing a retail job since many opportunities fly under the radar.
The following advice not only helps you identify roles, it also helps sell you since that is what is most crucial in finding a job in a retail store, selling yourself, showing that you are the person the business should hire to help them grow the business.
Before you start looking for retail work, get stuck into some preparation. Take your time to think carefully about and work through these four points:
1. What type of retail job are you looking for? What type of retail, the hours, the location and the position within the business? It is important to know exactly what you are looking for.
2. Prepare your documentation package. Your documentation package should contain the information whichsells you. This ought to include an introductory letter, your resume (or CV as it can be called), references from past employment, police or security check (if appropriate to the role) and and other information which sells you.
3. Prepare yourself for making the pitch. Do you look the part for the type of store you want to pitch yourself to? If not, maybe this retail store is not for you. Think about that carefully. There is no point in looking like someone you are not. Alternatively, some simple work could make you look more appealing and appropriate to the business. Remember, it is a buyers market.
4. How will you sell yourself? prepare and rehearse several pitches: the 30 second intro, the two to five minute pitch and the fifteen minute presentation where you reveal your skills and passion for the business. The different pitches will help you prepare for the different situations you encounter. Practise in front of the mirror and with friends who will provide honest feedback.
With preparatory work done, you can turn your attention to actually looking for your ideal retail job. Here are some simple steps to follow:
1. Walk the shopping malls. Look at retail stores from the perspective of an employee. Develop a list of retail stores which interest you. Make sure that your interest in them will make a good and believable story as it is bound to be covered in an interview if you get to that point.
2. Research opportunities online. Research your shortlist of retail stores online. Visit their website, Facebook page, Twitter feed, MySpace page, blogs and any other online forum where you can find out more about them. If appropriate, comment on their blog - a good comment could get their attention.
3. make the move, offer yourself. Visit the retail businesses on your shortlist. Drop off your package and make a brief pitch. Keep your initial contact brief yet memorable - you want the people you com in contact with wanting you working for the business.
4. Follow-up after your initial contact. A day or two after your first contact, make a second contact with the retail store by a different means. If you dropped in on the first contact, follow up with a brief letter. If you first contacted the business by mail, drop in. Keep your follow up light.
The key message about finding a retail job is that you know what you want, have a plan and pursue your goal relentlessly, professionally and with passion. Passion is the key as this is what is more likely to win you the job.
Satisfaction Survey
Your customers will have perceptions, impressions, and ideas about your business. What they think about your business can only come from one source and that is their experience of dealing with you. The information they have about your business is very important and it doesn't matter what sort of business you have, the perceptions of your customers deserve to be recognized. Customers can give you direction and ideas about improving their perceptions through better service, better appearance, inventory range, staff training, speed of service, accuracy of service and so on. Without this information you are, at best, guessing what they want.
One of the ways of getting this information so you can apply it to your business, is to conduct a survey. Unfortunately, a lot of the recent surveys that are carried out, have an inherent flaw. The questions, whilst important, can never drill down to the right place. This is because that when you ask a question, the answer often requires another question and it is impossible to anticipate the subsequent question. This means that a written survey form will always fall short in comparison to a verbal discussion with the customer. You can compromise by asking prepared questions and then posing subsequent questions to clarify or to amplify the answers.
Another reason why asking questions face-to-face is more likely to reveal important information is very simple. 85 to 90% of all communication is nonverbal. This means that the written questionnaire or survey form will never pick up this missing communication. The written survey form is used because it is more efficient in gathering a lot of information in a short space of time. However, as you can see, it is severely limited. Interpreting the results of a written survey on customer satisfaction is mainly guesswork or statistical. Either way, the outcome will be of limited value and may be, you should hesitate to make major decisions on the strength of a written survey.
Typical questions in written surveys tend to follow a predictable pattern and include assessments such as, "Please rate the helpfulness of our staff." The writer then has to circle and number between one and five to indicate their rating. "Please tell us how easy it was to find items in our store." And again the customer has to indicate their perception on a scale of 1 to 5.
However, the number one question to ask during a customer satisfaction survey is this, "If you had a magic wand what would you change in this store?" You can imagine that this would create the need for a lot of subsequent questions. Furthermore, this question is best asked face-to-face because of the potential information that can be gathered at this time. It has been suggested that this question should be asked frequently by the manager to people who are leaving the store having completed their purchasing. As you can imagine, it wouldn't take too long to compile a picture of how your customers perceive your business by asking this particular question.
One of the ways of getting this information so you can apply it to your business, is to conduct a survey. Unfortunately, a lot of the recent surveys that are carried out, have an inherent flaw. The questions, whilst important, can never drill down to the right place. This is because that when you ask a question, the answer often requires another question and it is impossible to anticipate the subsequent question. This means that a written survey form will always fall short in comparison to a verbal discussion with the customer. You can compromise by asking prepared questions and then posing subsequent questions to clarify or to amplify the answers.
Another reason why asking questions face-to-face is more likely to reveal important information is very simple. 85 to 90% of all communication is nonverbal. This means that the written questionnaire or survey form will never pick up this missing communication. The written survey form is used because it is more efficient in gathering a lot of information in a short space of time. However, as you can see, it is severely limited. Interpreting the results of a written survey on customer satisfaction is mainly guesswork or statistical. Either way, the outcome will be of limited value and may be, you should hesitate to make major decisions on the strength of a written survey.
Typical questions in written surveys tend to follow a predictable pattern and include assessments such as, "Please rate the helpfulness of our staff." The writer then has to circle and number between one and five to indicate their rating. "Please tell us how easy it was to find items in our store." And again the customer has to indicate their perception on a scale of 1 to 5.
However, the number one question to ask during a customer satisfaction survey is this, "If you had a magic wand what would you change in this store?" You can imagine that this would create the need for a lot of subsequent questions. Furthermore, this question is best asked face-to-face because of the potential information that can be gathered at this time. It has been suggested that this question should be asked frequently by the manager to people who are leaving the store having completed their purchasing. As you can imagine, it wouldn't take too long to compile a picture of how your customers perceive your business by asking this particular question.
Sunday, August 1, 2010
Pricing Your Products
The decision to hike or lower the prices on your products or services can be difficult and have a direct impact on your business. However the way you go about making these changes in price will determine the results of your new policy. For instance, two companies who change the prices on the same product by the same amount, may get varied outcomes depending on how they went about implementing the change.
You need to pay attention to the timing on your new policy. You need to know if your customers think you are giving them value for their money and you need to gauge the reaction of your competitors in advance.
One way of raising your prices is to implement one single large hike. This may be due to an increase in raw material costs or because you want to bring down the demand to a more manageable level.
In reality, however, most companies implement price hikes on a gradual basis. They feel their customers will accept the price rise better since they will not be hit by it in one shot. Sometimes customers may not even notice the price hikes if they are spread out over a long duration of time.
If your company produces a range of products or services, try increasing the prices on some of them and leave the others as before. It is also wise to assess the kind of product you have since some products are more sensitive to price hikes.
You should select the right time to introduce your new pricing policy. To lower prices, the timing should be such that you gain maximum mileage out of it. To increase pricing, select a time when you are likely to face the least amount of resistance. Your timing will also be decided by seasonal changes and sales cycles. For example, some retail stores increase the prices on their goods around the time Christmas is approaching since shoppers are in a hurry to buy and pay less attention to how much they are paying. A store that has recently been launched may keep prices down in order to attract clientele.
You can also modify the value of your goods while leaving the prices intact. For example, you may reduce the quantity of a product a bit but maintain the same price level as before. Most customers will not notice the change as long as it is not very substantial. The net effect of this policy would be the same as raising the price.
You need to pay attention to the timing on your new policy. You need to know if your customers think you are giving them value for their money and you need to gauge the reaction of your competitors in advance.
One way of raising your prices is to implement one single large hike. This may be due to an increase in raw material costs or because you want to bring down the demand to a more manageable level.
In reality, however, most companies implement price hikes on a gradual basis. They feel their customers will accept the price rise better since they will not be hit by it in one shot. Sometimes customers may not even notice the price hikes if they are spread out over a long duration of time.
If your company produces a range of products or services, try increasing the prices on some of them and leave the others as before. It is also wise to assess the kind of product you have since some products are more sensitive to price hikes.
You should select the right time to introduce your new pricing policy. To lower prices, the timing should be such that you gain maximum mileage out of it. To increase pricing, select a time when you are likely to face the least amount of resistance. Your timing will also be decided by seasonal changes and sales cycles. For example, some retail stores increase the prices on their goods around the time Christmas is approaching since shoppers are in a hurry to buy and pay less attention to how much they are paying. A store that has recently been launched may keep prices down in order to attract clientele.
You can also modify the value of your goods while leaving the prices intact. For example, you may reduce the quantity of a product a bit but maintain the same price level as before. Most customers will not notice the change as long as it is not very substantial. The net effect of this policy would be the same as raising the price.
Sign Supports
Sign supports, otherwise known as standoffs or wall mounts are a cost effective and simple design solution that can bring a flat display to life by using different depths and levels.
They are available in a range of colours and finishes, the most popular being satin chrome, polished chrome, brass and black. They are fundamentally made up of two parts, the barrel (female part) and thread (male part). The standoff or barrel is fixed directly to the wall where your acrylic, glass or wood panel is secured by simply screwing the thread through the holes in the panel to connect it to the barrel. They are very easy to install, once they are fixed to the wall, they simply screw in and out by hand, not tools needed.
Sign supports come in a huge range of sizes, ranging in different diameters and standoffs. It is possible to create a wall display with many different depths by simply altering the size of the standoff. As they are fixed directly to the wall it ensures their durability and strength, which means they are suitable to hold large panels. It is recommended that 4 sign supports should be used for acrylic panels measuring below 800mm x 800mm and 6 for acrylic panels measuring up to 1550mm x 1550mm. For panels measuring above this or made of a different material, it is recommended to ask the advice of your supplier.
You may find that the prices of sign supports vary quite dramatically from supplier to supplier. This could be because some are manufactured in the UK (the more expensive ones) and others are imported from the Far East (the cheaper alternatives). You may find some of the ranges from the Far East are hollow, which can sometimes reflect on their price; however this is not always the case. The material with which the they are made may also reflect their price. Typical materials include brass, aluminum and stainless steel.
It is also possible to use two sign supports that are joined together to hold two pieces of acrylic to create a sandwich effect. This is an ideal solution to display photographs, prints and pieces of art. The graphic simply slots between the acrylic panel and is sandwiched together using the sign supports.
There are many different display options that sign supports can be used to create. If you have any questions regarding their versatility of sign supports, get in touch with your supplier who should be able to answer all of your questions.
They are available in a range of colours and finishes, the most popular being satin chrome, polished chrome, brass and black. They are fundamentally made up of two parts, the barrel (female part) and thread (male part). The standoff or barrel is fixed directly to the wall where your acrylic, glass or wood panel is secured by simply screwing the thread through the holes in the panel to connect it to the barrel. They are very easy to install, once they are fixed to the wall, they simply screw in and out by hand, not tools needed.
Sign supports come in a huge range of sizes, ranging in different diameters and standoffs. It is possible to create a wall display with many different depths by simply altering the size of the standoff. As they are fixed directly to the wall it ensures their durability and strength, which means they are suitable to hold large panels. It is recommended that 4 sign supports should be used for acrylic panels measuring below 800mm x 800mm and 6 for acrylic panels measuring up to 1550mm x 1550mm. For panels measuring above this or made of a different material, it is recommended to ask the advice of your supplier.
You may find that the prices of sign supports vary quite dramatically from supplier to supplier. This could be because some are manufactured in the UK (the more expensive ones) and others are imported from the Far East (the cheaper alternatives). You may find some of the ranges from the Far East are hollow, which can sometimes reflect on their price; however this is not always the case. The material with which the they are made may also reflect their price. Typical materials include brass, aluminum and stainless steel.
It is also possible to use two sign supports that are joined together to hold two pieces of acrylic to create a sandwich effect. This is an ideal solution to display photographs, prints and pieces of art. The graphic simply slots between the acrylic panel and is sandwiched together using the sign supports.
There are many different display options that sign supports can be used to create. If you have any questions regarding their versatility of sign supports, get in touch with your supplier who should be able to answer all of your questions.
Clothes Retailer
Some people say that because of the Internet, the wholesale clothing distributors are no longer needed. Simply that is NOT the case. I admit, that the Internet has made it easier for some retailers to deal with the manufacturers without the wholesaler needed in the middle, but that does not mean the end of wholesale clothing distributors!
The biggest reason why the wholesale clothing business will not die, is the fact that smaller retailers can not get their stock from the manufacturers, or if they do, it will cost them a lot. Manufacturers do not ship small orders, and if you are a small retailer, I do not think that you would like to order something around 5000 pieces of some trousers for example. The clothing distributors do have minimum orders as well, since they are selling in bulk, but those are much smaller than what manufacturers have, for example 50 pieces.
Another reason is that the manufacturers do not usually do any marketing for their new products, they just talk with certain wholesale clothing distributor and that's it. The retailers will not be able to 'see' this kind of marketing, so they would have to call the manufacturers all the time to ask about what they have. In this way it is much smarter for retailers to follow the wholesale clothing distributors, because when they have new stock, they post about it on their websites, or send newsletters to their existing customers, or even call some of their long time customers whose line of work they know.
The biggest reason why the wholesale clothing business will not die, is the fact that smaller retailers can not get their stock from the manufacturers, or if they do, it will cost them a lot. Manufacturers do not ship small orders, and if you are a small retailer, I do not think that you would like to order something around 5000 pieces of some trousers for example. The clothing distributors do have minimum orders as well, since they are selling in bulk, but those are much smaller than what manufacturers have, for example 50 pieces.
Another reason is that the manufacturers do not usually do any marketing for their new products, they just talk with certain wholesale clothing distributor and that's it. The retailers will not be able to 'see' this kind of marketing, so they would have to call the manufacturers all the time to ask about what they have. In this way it is much smarter for retailers to follow the wholesale clothing distributors, because when they have new stock, they post about it on their websites, or send newsletters to their existing customers, or even call some of their long time customers whose line of work they know.
Thursday, July 1, 2010
Greater Success
Independent small retail businesses rarely have the money for big advertising and marketing campaigns. Their stores are usually not based on the latest shop layout fixtures. Their locations are often not the best in town.
No, independent small retail businesses face challenges on a range of fronts due to limited financial resources.
The one area where an independent retail store can compete is in product knowledge. They often have employees in their niche who are more knowledgeable and passionate about their product categories than you will ever find in a mass retail outlet selling similar products.
But how do you get that message out? How can the small independent retail business compete with the massive competitor?
By writing a blog about the niche in which the business operates. Even a single person business can attract more traffic to a blog than a major corporation funding a blog on the same topic.
The key is content. Write fresh, knowledgeable and useful content regularly and build your profile with the search engines. Soon enough, your small business will get known for its knowledge and this can parlay into excellent sales.
Blogging is especially useful to a small retail store since in the blogosphere, money does not talk. Content is king and anyone can create good content. By blogging, you can setup a David Versus Goliath situation for your small store.
Here are some quick blogging tips for a retailer starting out:
Make sure that you do have valuable knowledge.
Learn to write crisp sentences and how to get your message across in 300 words or less.
Write regularly.
Include photos.
Don't advertise, tell stories. Provide context and insight. Make sure that the content is valuable to a wide reader community.
Use headlines with words people are likely to use when searching for your type of business.
Blogging is useful for commentary about topics related to your business but not about your business. Such commentary, if well considered and written can add tremendous value to how your business is seen and provide kudos to you as the author.
Don't start to promote your blog to your customers and suppliers until you have found your rhythm as a blogger and have some content live of which you are proud. It is like inviting someone to your home - you want it to be furnished.
Write with authority. Try and stay away from emotion. This blog should be about business and the niche about which you are most passionate through your retail store.
Remember, big is not always better. Use your blog to show how your passion and knowledge deliver value through the blog and through your own business. Be proud but not cocky as they say.
Track your visits as this is like people walking through the front door of your shop.
No, independent small retail businesses face challenges on a range of fronts due to limited financial resources.
The one area where an independent retail store can compete is in product knowledge. They often have employees in their niche who are more knowledgeable and passionate about their product categories than you will ever find in a mass retail outlet selling similar products.
But how do you get that message out? How can the small independent retail business compete with the massive competitor?
By writing a blog about the niche in which the business operates. Even a single person business can attract more traffic to a blog than a major corporation funding a blog on the same topic.
The key is content. Write fresh, knowledgeable and useful content regularly and build your profile with the search engines. Soon enough, your small business will get known for its knowledge and this can parlay into excellent sales.
Blogging is especially useful to a small retail store since in the blogosphere, money does not talk. Content is king and anyone can create good content. By blogging, you can setup a David Versus Goliath situation for your small store.
Here are some quick blogging tips for a retailer starting out:
Make sure that you do have valuable knowledge.
Learn to write crisp sentences and how to get your message across in 300 words or less.
Write regularly.
Include photos.
Don't advertise, tell stories. Provide context and insight. Make sure that the content is valuable to a wide reader community.
Use headlines with words people are likely to use when searching for your type of business.
Blogging is useful for commentary about topics related to your business but not about your business. Such commentary, if well considered and written can add tremendous value to how your business is seen and provide kudos to you as the author.
Don't start to promote your blog to your customers and suppliers until you have found your rhythm as a blogger and have some content live of which you are proud. It is like inviting someone to your home - you want it to be furnished.
Write with authority. Try and stay away from emotion. This blog should be about business and the niche about which you are most passionate through your retail store.
Remember, big is not always better. Use your blog to show how your passion and knowledge deliver value through the blog and through your own business. Be proud but not cocky as they say.
Track your visits as this is like people walking through the front door of your shop.
Running a Competition
Competitions are an essential tactic in retail to drive incremental sales and add excitement to the retail experience. Run well, an in-store competition can generate excellent business for a retail store. Run poorly, they can cost a lot of money. Here are ten essential tips for running a successful in-store competition in just about any type of retail business:
Know what you want from the competition. Without this you will have no way of assessing its success. The goal could be sales, building your customer database, attracting new customers.
Select a prize which will appeal to your customers and which has measureable value. It will ideally be something which you can put on show in the store as a great prize display attracts customers.
Make qualifying to enter easy - a certain value of purchases or purchasing particular items. How people qualify to enter is all about what you want to achieve from the competition.
Make ordering easy - with a simple form. This needs to be able to be completed quickly at the sales counter.
Gather important customer data: email address, cell number, gender and age range.
Promote the competition inside your store. The goal is to get your customers engaging with the products you want to sell and this takes excellent visual merchandising around this impulse activity.
Depending on the nature of the prize, promote the competition outside your store.
If customers have to enter by creating something, put all entries on show if you have the space. People will come back with their families to show off their entries.
Draw the prize publicly, get more people back in for an event around announcing the winner.
Name the winner publicly and congratulate them.
Consider scheduling regular competitions in-store. Get your business known as the lucky place to shop. This can be a good differentiator over competitors. Ask your employees for their ideas on running competitions. Experiment with unusual competition ideas which are likely to attract new shoppers to your store, especially competitions people are likely to talk about to their friends.
Be proud of your competitions. This means, be loud. Competitions are all about growing your business after all. If you are timid and keep them hidden in your four walls you miss the opportunity. Competitions can really lift a retail store. The key is how you engage with the competition opportunity. be bold, loud and happy in running them and expect a good sales lift as a result.
Know what you want from the competition. Without this you will have no way of assessing its success. The goal could be sales, building your customer database, attracting new customers.
Select a prize which will appeal to your customers and which has measureable value. It will ideally be something which you can put on show in the store as a great prize display attracts customers.
Make qualifying to enter easy - a certain value of purchases or purchasing particular items. How people qualify to enter is all about what you want to achieve from the competition.
Make ordering easy - with a simple form. This needs to be able to be completed quickly at the sales counter.
Gather important customer data: email address, cell number, gender and age range.
Promote the competition inside your store. The goal is to get your customers engaging with the products you want to sell and this takes excellent visual merchandising around this impulse activity.
Depending on the nature of the prize, promote the competition outside your store.
If customers have to enter by creating something, put all entries on show if you have the space. People will come back with their families to show off their entries.
Draw the prize publicly, get more people back in for an event around announcing the winner.
Name the winner publicly and congratulate them.
Consider scheduling regular competitions in-store. Get your business known as the lucky place to shop. This can be a good differentiator over competitors. Ask your employees for their ideas on running competitions. Experiment with unusual competition ideas which are likely to attract new shoppers to your store, especially competitions people are likely to talk about to their friends.
Be proud of your competitions. This means, be loud. Competitions are all about growing your business after all. If you are timid and keep them hidden in your four walls you miss the opportunity. Competitions can really lift a retail store. The key is how you engage with the competition opportunity. be bold, loud and happy in running them and expect a good sales lift as a result.
Small Changes
Some of our customers ask us, 'How quickly do our customers get bored of our interior design? If it is quick, how often should we change it?'
The answer to this question cannot be applied across the board because generally speaking, consumer reactions vary from industry to industry. For example, if you have a retail outlet selling souvenirs, your regular customers may be fleeting ones who are tourists and they may not come into your store again. So, the look and display of your retail stores may not matter as much.
However, if you sell clothing or makeup items, you may yourself a bunch of regular customers who come back to your store time and again to restock or get new fashion items. Then you may need to make some changes to the look of your retail outlet every few months.
Gradual changes keeps the relationship with your consumers fresh. The changes that you make to your retail store does not have to be anything major. A new display shelf here, a new coat of paint or a new painting is all that is needed. They may not even notice the changes on a conscious level but at the back of their minds, after a few changes, they might suddenly ask, 'Did you do something to your store? It looks different!'
See? Even gradual changes can be appreciated in the end.
Major overhaul incites new direction. So you want it big. You want to make a big impression on your regular customers, to show them that you are ready for new changes and something new and exciting is in the pipeline. This works for rebranding purposes or when you want to change the direction of your company. Consumers love a little drama and something unexpected so, give them that if you have the budget for it.
Major overhauls usually bring new customers too if you publicize the new change.
Adding and removing furniture and shelves. Our customers usually aim for the middle path which does not cost a lot of money and yet attracts attention and that is to remove old display units or furniture and replace them with new ones. In fact, if they have the space for it, they add new furniture that compliments their old ones.
Here's to the success of your business!
The answer to this question cannot be applied across the board because generally speaking, consumer reactions vary from industry to industry. For example, if you have a retail outlet selling souvenirs, your regular customers may be fleeting ones who are tourists and they may not come into your store again. So, the look and display of your retail stores may not matter as much.
However, if you sell clothing or makeup items, you may yourself a bunch of regular customers who come back to your store time and again to restock or get new fashion items. Then you may need to make some changes to the look of your retail outlet every few months.
Gradual changes keeps the relationship with your consumers fresh. The changes that you make to your retail store does not have to be anything major. A new display shelf here, a new coat of paint or a new painting is all that is needed. They may not even notice the changes on a conscious level but at the back of their minds, after a few changes, they might suddenly ask, 'Did you do something to your store? It looks different!'
See? Even gradual changes can be appreciated in the end.
Major overhaul incites new direction. So you want it big. You want to make a big impression on your regular customers, to show them that you are ready for new changes and something new and exciting is in the pipeline. This works for rebranding purposes or when you want to change the direction of your company. Consumers love a little drama and something unexpected so, give them that if you have the budget for it.
Major overhauls usually bring new customers too if you publicize the new change.
Adding and removing furniture and shelves. Our customers usually aim for the middle path which does not cost a lot of money and yet attracts attention and that is to remove old display units or furniture and replace them with new ones. In fact, if they have the space for it, they add new furniture that compliments their old ones.
Here's to the success of your business!
Tuesday, June 1, 2010
Retail Management
Microsoft Business Solutions is Microsoft subdivision and historically it is joining several products development companies under one roof: Great Plains Software, Navision Software, Microsoft CRM (this one was developed by MBS), Solomon Software, SMS: QuickSell 2000 – which is now Microsoft Retail Management System.
Let’s first look at your ERP system selection (without Retail Solution). Your options are:
Microsoft Great Plains. If you remember successful mid-size application – Great Plains Dynamics, pioneered on Mac and Windows graphical platforms in the mid 1990th. This is now Microsoft Great Plains, Great Plains Standard and Microsoft Small Business Manager (scaled down Great Plains version, using he same technology – Great Plains Dexterity). Currently it is version 8.0, the only database platform option is Microsoft SQL Server/MSDE. Ctree and Pervasive SQL were abandoned, the last version, supporting these platforms was 7.5. You should consider Microsoft Great Plains if you are in: USA, Canada, Latin America, UK, South Africa, Australia – these are markets, where former Great Plains Software had successful penetration
Microsoft Navision. This product had success on European market and was developed by Navision Software, Denmark based software development company. In our opinion Microsoft bought this product in order to get European market share, especially continental Europe. Then, Microsoft Business Solutions realized that Navision is a good fit for countries with tight government regulation: taxes, chart of accounts (France and Russia), government reporting, etc. You should consider Navision if you have light manufacturing (we believe that Navision will be the base for future Microsoft Manufacturing suite) or located in the following regions: continental Europe, Russia, Brazil.
Solomon. This product has excellent Project Management solution and you should look at it if you are in the USA and have professional services or construction company.
Axapta. There are many different opinions about Axapta. We would like to withhold our opinion here and just tell you Microsoft Business Solutions opinion from Moscow – in Russia Axapta is successful and has approximately the same number of installations as Navision. Axapta is probably MBS stake on large enterprises market to compete with PeopleSoft (now Oracle) and SAP
And finally let us give you Retail Management System and CRM hints. Microsoft CRM is the only CRM option from Microsoft (in Navision you have Navision CRM module option – so this is an exception) and please, feel free to choose Microsoft CRM if you would like to try CRM from Microsoft. This CRM will be loved by your IT department, because it does use all Microsoft recent technologies: MS Exchange, .Net, MS SQL Server, Active Directory, BizTalk (integration with Great Plains), C# and VB.Net based MS CRM SDK.
Now – retail management. In the case of Navision – again you have retail module there. In all the other cases – you should try Microsoft RMS.
Let’s first look at your ERP system selection (without Retail Solution). Your options are:
Microsoft Great Plains. If you remember successful mid-size application – Great Plains Dynamics, pioneered on Mac and Windows graphical platforms in the mid 1990th. This is now Microsoft Great Plains, Great Plains Standard and Microsoft Small Business Manager (scaled down Great Plains version, using he same technology – Great Plains Dexterity). Currently it is version 8.0, the only database platform option is Microsoft SQL Server/MSDE. Ctree and Pervasive SQL were abandoned, the last version, supporting these platforms was 7.5. You should consider Microsoft Great Plains if you are in: USA, Canada, Latin America, UK, South Africa, Australia – these are markets, where former Great Plains Software had successful penetration
Microsoft Navision. This product had success on European market and was developed by Navision Software, Denmark based software development company. In our opinion Microsoft bought this product in order to get European market share, especially continental Europe. Then, Microsoft Business Solutions realized that Navision is a good fit for countries with tight government regulation: taxes, chart of accounts (France and Russia), government reporting, etc. You should consider Navision if you have light manufacturing (we believe that Navision will be the base for future Microsoft Manufacturing suite) or located in the following regions: continental Europe, Russia, Brazil.
Solomon. This product has excellent Project Management solution and you should look at it if you are in the USA and have professional services or construction company.
Axapta. There are many different opinions about Axapta. We would like to withhold our opinion here and just tell you Microsoft Business Solutions opinion from Moscow – in Russia Axapta is successful and has approximately the same number of installations as Navision. Axapta is probably MBS stake on large enterprises market to compete with PeopleSoft (now Oracle) and SAP
And finally let us give you Retail Management System and CRM hints. Microsoft CRM is the only CRM option from Microsoft (in Navision you have Navision CRM module option – so this is an exception) and please, feel free to choose Microsoft CRM if you would like to try CRM from Microsoft. This CRM will be loved by your IT department, because it does use all Microsoft recent technologies: MS Exchange, .Net, MS SQL Server, Active Directory, BizTalk (integration with Great Plains), C# and VB.Net based MS CRM SDK.
Now – retail management. In the case of Navision – again you have retail module there. In all the other cases – you should try Microsoft RMS.
Home-Based Retail
You had a great idea when you decided to open a home-based Internet retail business. You became a "power seller" as people in the online retail business world call you. Your goal is to move tons of merchandise through Web auction sites and classifieds services without ever leaving the comfort of your home office. Drop shipping gives you the opportunity to accomplish your dreams and more. The sky is the limit if you know how to get your business off the ground.
Drop shipping can launch your business into successful orbit, but it isn't rocket science. With this unique way of doing business, you enlist the services of a wholesale merchandise company. The wholesale company takes care of the stockpiling and storing of your product. It even covers the shipping and handling charges when one of your customers orders an item.
This means you don't have to rent thousands of square feet to warehouse your inventory, and you're free from the liability that comes with direct delivery to your customers. Your only expenses are the membership fee of your particular wholesaler, along with the fees and percentages you lose to advertising and auctioning online. If you play your cards right with these fees, you can build yourself a very cost-effective and most importantly, profitable-home-based business.
Experienced online retailers have learned the tricks of the trade to do just that. Here are the key secrets that they, your competitors, don't want you to know. These three tips will stack the deck in your favor, helping you to grow your clientele while avoiding the pitfalls of doing ecommerce.
Get sold on your wholesaler. Nowadays, wholesalers are a dime a dozen, so don't settle on the first one that comes your way. Let wholesalers compete for your business, instead of the other way around. Many companies may offer specials to new prospective retailers. They may waive the minimum order requirements, credit check, and prepayments if you sign up with them. Top-notch wholesalers could also offer international delivery or special net payment options. Avoid high expenses at the get-go by taking advantage of such specials, and turn a profit a lot quicker.
Sniff out whole-scammers. For every honest wholesaler looking to build a successful relationship with you, there's a crook out there looking to do nothing but build his bank account at your expense. Avoid any wholesaler, for instance, who demands you pay an advance fee before you sign up with them. Be wary of wholesalers who claim to have thousands of items in their selection. These might not be wholesalers at all, but middlemen who are trying to bluff you. Instead of actually stocking these thousands of products, they actually buy them from a wholesaler, or another middleman, and resell them to you at a jacked up price, thereby cutting into your profits.
Get wired to the Web wisely. You now have a trusted Wholesaler and outstanding products to move, but so do thousands of other Internet retailers. How can you stand out to attract customers and save money doing so? One way to make a mark online is to design and write your own ads for your products. Many wholesalers provide complimentary stock product photos and descriptions that you can use in your online ads and classifieds. Then again, they provide the same thing to all their retailers. Most retailers use them. So you shouldn't.
Another effective way to sell on the Web is to find new and innovative sites to sell on. The main auction sites are often crowded with retailers who are eager to undercut your prices. Plus, these auctioning sites tend to have high fees and shorter listing durations. Avoid competition and high prices by trying the next generation of premiere selling sites, such as free online classified sites.
Free online classifieds services work as powerful avenues to sell your goods. They offer attractive features your business needs to take off, such as:
No sign-up, registration, or transaction fees.
Free listing (text description and image upload).
Up to 60-day ad listing. This listing duration is light years longer than most other sites and renewals are free as well.
Distance calculator. This function comes in handy if you're concerned with locality.
These free online classified sites can be the ace up your sleeve, whether you're just launching your home-based Internet retail operation or trying to shoot for the stars with an established business. Strap yourself into your chair and count down to ignition.
Drop shipping can launch your business into successful orbit, but it isn't rocket science. With this unique way of doing business, you enlist the services of a wholesale merchandise company. The wholesale company takes care of the stockpiling and storing of your product. It even covers the shipping and handling charges when one of your customers orders an item.
This means you don't have to rent thousands of square feet to warehouse your inventory, and you're free from the liability that comes with direct delivery to your customers. Your only expenses are the membership fee of your particular wholesaler, along with the fees and percentages you lose to advertising and auctioning online. If you play your cards right with these fees, you can build yourself a very cost-effective and most importantly, profitable-home-based business.
Experienced online retailers have learned the tricks of the trade to do just that. Here are the key secrets that they, your competitors, don't want you to know. These three tips will stack the deck in your favor, helping you to grow your clientele while avoiding the pitfalls of doing ecommerce.
Get sold on your wholesaler. Nowadays, wholesalers are a dime a dozen, so don't settle on the first one that comes your way. Let wholesalers compete for your business, instead of the other way around. Many companies may offer specials to new prospective retailers. They may waive the minimum order requirements, credit check, and prepayments if you sign up with them. Top-notch wholesalers could also offer international delivery or special net payment options. Avoid high expenses at the get-go by taking advantage of such specials, and turn a profit a lot quicker.
Sniff out whole-scammers. For every honest wholesaler looking to build a successful relationship with you, there's a crook out there looking to do nothing but build his bank account at your expense. Avoid any wholesaler, for instance, who demands you pay an advance fee before you sign up with them. Be wary of wholesalers who claim to have thousands of items in their selection. These might not be wholesalers at all, but middlemen who are trying to bluff you. Instead of actually stocking these thousands of products, they actually buy them from a wholesaler, or another middleman, and resell them to you at a jacked up price, thereby cutting into your profits.
Get wired to the Web wisely. You now have a trusted Wholesaler and outstanding products to move, but so do thousands of other Internet retailers. How can you stand out to attract customers and save money doing so? One way to make a mark online is to design and write your own ads for your products. Many wholesalers provide complimentary stock product photos and descriptions that you can use in your online ads and classifieds. Then again, they provide the same thing to all their retailers. Most retailers use them. So you shouldn't.
Another effective way to sell on the Web is to find new and innovative sites to sell on. The main auction sites are often crowded with retailers who are eager to undercut your prices. Plus, these auctioning sites tend to have high fees and shorter listing durations. Avoid competition and high prices by trying the next generation of premiere selling sites, such as free online classified sites.
Free online classifieds services work as powerful avenues to sell your goods. They offer attractive features your business needs to take off, such as:
No sign-up, registration, or transaction fees.
Free listing (text description and image upload).
Up to 60-day ad listing. This listing duration is light years longer than most other sites and renewals are free as well.
Distance calculator. This function comes in handy if you're concerned with locality.
These free online classified sites can be the ace up your sleeve, whether you're just launching your home-based Internet retail operation or trying to shoot for the stars with an established business. Strap yourself into your chair and count down to ignition.
Accounting/Retail Market
In this small article we will be looking at the new opportunities for Microsoft Small Business Server specialists, but rather look at the global business strategy and possible ways of future ERP modules standardizing and interoperability. This is important to get into consideration for midsize and large corporate business IT decision makers. Let’s look at the chronology and possible future development.
• Great Plains Software acquisition. When Microsoft took leading position on the operating system market and released stable and reliable Windows 2000 Server, the next logical step would be getting into ERP market. Microsoft decided to try midsize market, and the reason is probably this – it is wise to create small accounting as the extension to Microsoft Office, not to purchase existing small application. However if you plan to try midmarket – you better purchase something established with broad client base. Developing midsize package from scratch might deplete all the resources. As the stake on Great Plains was high – Microsoft formed business systems subdivision – Microsoft Great Plains Business Solutions, later on Great Plains name was taken off and now we see Microsoft Business Solutions.
• Navision Software Acquisition. There are multiple opinions among the MBS partners. Considering the fact that Navision Attain had strong clientele in Europe, and the fact that currently MBS promotes Navision on the majority of emerging markets: East Europe, Russia, Brazil – the point of view that Microsoft got very large pool of clients in Europe and one of the goals of Navision acquisition was geographic expansion.
• Axapta. Navision Software was indeed very robust and it was one of the Danish software “dragons” (in the good sense of this word), the other nice company was MacHanza. We would like here to credit Danish ERP vendors. Axapta was new product on the moment of acquisition and it is rich-functionality ERP and so – a rival to SAP, Oracle Financials, PeopleSoft
• Small Business Manager/Small Business Financials. This was natural way of downsizing the functionality of Great Plains Dynamics/Microsoft Great Plains to gain small business market. Small Business Financials is Great Plains Dexterity written accounting package. You see similar marketing moves from SAP and Oracle sides.
• Small Business Accounting 2006. It took Microsoft about four years to feel itself comfortable on the ERP market before it decided to create its own small business package, targeted to take over market share from QuickBooks, MYOB, PeachTree. Small Business Accounting 2006 is really nice application, which is excellently integrated with Microsoft Office/Microsoft Outlook. Microsoft is right – majority of Windows users spend their computer time in Microsoft Outlook and Microsoft Excel. And it create accounting application, allowing you to do 50% of work from Microsoft Outlook directly
• Microsoft POS. As you know that there are several thousand small retail businesses in the USA, using just one cash register and these folks have to use a lot of small Retail Management applications, which are competing on this market for a long time. And it is a good momentum to take over this unreliable and turbulent market offering cheap and solid rock solution, working with POS devises. Please, take into account that Microsoft has another high-end Retail Management system – Microsoft RMS, which can automate midsize and huge retail stores and chains.
• Market is taken over? Well – the last flint of Microsoft Small Business Accounting and Microsoft POS give customer an option to stay in Microsoft framework from the company inception till going public as a large corporation. This fact would be very difficult to ignore for such folks out there on the market as BestSoftware, SAP, Oracle, Sun.
• Great Plains Software acquisition. When Microsoft took leading position on the operating system market and released stable and reliable Windows 2000 Server, the next logical step would be getting into ERP market. Microsoft decided to try midsize market, and the reason is probably this – it is wise to create small accounting as the extension to Microsoft Office, not to purchase existing small application. However if you plan to try midmarket – you better purchase something established with broad client base. Developing midsize package from scratch might deplete all the resources. As the stake on Great Plains was high – Microsoft formed business systems subdivision – Microsoft Great Plains Business Solutions, later on Great Plains name was taken off and now we see Microsoft Business Solutions.
• Navision Software Acquisition. There are multiple opinions among the MBS partners. Considering the fact that Navision Attain had strong clientele in Europe, and the fact that currently MBS promotes Navision on the majority of emerging markets: East Europe, Russia, Brazil – the point of view that Microsoft got very large pool of clients in Europe and one of the goals of Navision acquisition was geographic expansion.
• Axapta. Navision Software was indeed very robust and it was one of the Danish software “dragons” (in the good sense of this word), the other nice company was MacHanza. We would like here to credit Danish ERP vendors. Axapta was new product on the moment of acquisition and it is rich-functionality ERP and so – a rival to SAP, Oracle Financials, PeopleSoft
• Small Business Manager/Small Business Financials. This was natural way of downsizing the functionality of Great Plains Dynamics/Microsoft Great Plains to gain small business market. Small Business Financials is Great Plains Dexterity written accounting package. You see similar marketing moves from SAP and Oracle sides.
• Small Business Accounting 2006. It took Microsoft about four years to feel itself comfortable on the ERP market before it decided to create its own small business package, targeted to take over market share from QuickBooks, MYOB, PeachTree. Small Business Accounting 2006 is really nice application, which is excellently integrated with Microsoft Office/Microsoft Outlook. Microsoft is right – majority of Windows users spend their computer time in Microsoft Outlook and Microsoft Excel. And it create accounting application, allowing you to do 50% of work from Microsoft Outlook directly
• Microsoft POS. As you know that there are several thousand small retail businesses in the USA, using just one cash register and these folks have to use a lot of small Retail Management applications, which are competing on this market for a long time. And it is a good momentum to take over this unreliable and turbulent market offering cheap and solid rock solution, working with POS devises. Please, take into account that Microsoft has another high-end Retail Management system – Microsoft RMS, which can automate midsize and huge retail stores and chains.
• Market is taken over? Well – the last flint of Microsoft Small Business Accounting and Microsoft POS give customer an option to stay in Microsoft framework from the company inception till going public as a large corporation. This fact would be very difficult to ignore for such folks out there on the market as BestSoftware, SAP, Oracle, Sun.
Right Retail Premises
Finding an Area that Encourages New BusinessesThroughout the UK, there are many cities that have created specific plans devoted to encouraging new retail businesses. Norwich, Northamptonshire, Oxford and many other communities have focused their efforts on encouraging, developing and sustaining new retail establishments, business sectors and the infrastructure needed to promote investment and success.
In Part I of our two-part article devoted to helping you choose the right premises for your business, we will consider what defines a supportive municipal environment for new companies. Although there will be individual nuances you'll want to bear in mind when selecting the specific address for your storefront, there are broader issues to be evaluated first before you choose the community in which your company will reside.
Regional and National ReputationFirst, starting a retail establishment in a city or area that has an economic plan devoted to developing and advocating its regional and national reputation is desirable. If a municipality is willing to put forth the effort to attract various types of companies, especially large employers, then the ground will be fertile for retailers. Also, there is likely to be development money for new businesses.
Business DiversityRegions that are interested in an economy that embraces various types of businesses tend to create a more stable trade environment. If there's a focus on one sector, such as high tech, and not much else, the local economy will ebb and flow as does that one enterprise category. Additionally, a mixture of small, medium and large companies tend to offer more opportunity due to the range of business traffic they attract.
Emphasis on EducationA city that wants to develop workforce that is continually being educated is a city that will foster ongoing growth. Searching through history, one of the trends one discovers is that economic instability occurs when workers are unable to adapt through education to changing developments in technology, business opportunities and economic shifts. Also, there is a direct relationship between continued education and earning power, which translates into more dispensable income that can be spent at local retailers.
Sound Economic Development PlanA city or region that has created a well thought out economic development plan is one that has the best chance at succeeding. The plan should include a five to ten year timeframe and a commitment to reviewing and modifying the plan bi-annually of annually.
Key elements in any plan include:
A coalition of government, community and economic sources devoted to implementing and supporting the plan.
A clear description of challenges that the municipality is going to undertake.
Specific goals relating to the workforce, investment and educational opportunities.
A description of constituents to be served.
A specific course of action, which is outlined and detailed.
Particulars regarding the development of infrastructure.
A clear understanding of the strengths and weaknesses within that community.
A realistic statement of how the city relates to the region and nation as an economic, cultural and educational force.
A timeline outlining how the plan will be further developed or implemented.
With any plan, you are looking for a reasonable analysis of the existing situation and how it will be altered. Many plans will denote specific geographic areas that will be developed or will describe the characteristics of the types of neighborhoods they are interested in serving. Consider how your business will literally fit into that area.
Next StepPart II focuses on what you'll need to consider for your specific establishment. Along with reviewing this next article, if you're creating your first retail storefront, you'll want to read our piece entitled Developing a Solid Business Plan—Details You Won't Want to Forget.
In Part I of our two-part article devoted to helping you choose the right premises for your business, we will consider what defines a supportive municipal environment for new companies. Although there will be individual nuances you'll want to bear in mind when selecting the specific address for your storefront, there are broader issues to be evaluated first before you choose the community in which your company will reside.
Regional and National ReputationFirst, starting a retail establishment in a city or area that has an economic plan devoted to developing and advocating its regional and national reputation is desirable. If a municipality is willing to put forth the effort to attract various types of companies, especially large employers, then the ground will be fertile for retailers. Also, there is likely to be development money for new businesses.
Business DiversityRegions that are interested in an economy that embraces various types of businesses tend to create a more stable trade environment. If there's a focus on one sector, such as high tech, and not much else, the local economy will ebb and flow as does that one enterprise category. Additionally, a mixture of small, medium and large companies tend to offer more opportunity due to the range of business traffic they attract.
Emphasis on EducationA city that wants to develop workforce that is continually being educated is a city that will foster ongoing growth. Searching through history, one of the trends one discovers is that economic instability occurs when workers are unable to adapt through education to changing developments in technology, business opportunities and economic shifts. Also, there is a direct relationship between continued education and earning power, which translates into more dispensable income that can be spent at local retailers.
Sound Economic Development PlanA city or region that has created a well thought out economic development plan is one that has the best chance at succeeding. The plan should include a five to ten year timeframe and a commitment to reviewing and modifying the plan bi-annually of annually.
Key elements in any plan include:
A coalition of government, community and economic sources devoted to implementing and supporting the plan.
A clear description of challenges that the municipality is going to undertake.
Specific goals relating to the workforce, investment and educational opportunities.
A description of constituents to be served.
A specific course of action, which is outlined and detailed.
Particulars regarding the development of infrastructure.
A clear understanding of the strengths and weaknesses within that community.
A realistic statement of how the city relates to the region and nation as an economic, cultural and educational force.
A timeline outlining how the plan will be further developed or implemented.
With any plan, you are looking for a reasonable analysis of the existing situation and how it will be altered. Many plans will denote specific geographic areas that will be developed or will describe the characteristics of the types of neighborhoods they are interested in serving. Consider how your business will literally fit into that area.
Next StepPart II focuses on what you'll need to consider for your specific establishment. Along with reviewing this next article, if you're creating your first retail storefront, you'll want to read our piece entitled Developing a Solid Business Plan—Details You Won't Want to Forget.
Rollicking Internet Retail
Even with the dot com bust of the late 90s, the number of entrepreneurs who have successfully leveraged this powerful medium to sell products, services or information and become millionaires in the process is phenomenal.
Setting up an Internet business is easy. Running it successfully is slightly more challenging. Which is why countless new Internet businesses emerge every day, only to fold up immediately or wind up slowly in a few months’ time.
The truth is that most of these failures are due to inadequate planning and preparation; the Internet still provides one of the easiest means to realize one’s dream of running a successful, low-cost and highly profitable business.
Based on my own experience with running several online businesses, mainly niche Internet retail stores, I am confident that some due diligence before embarking on the Internet retail business will go a long way in ensuring its success.
At a very broad level, an aspiring online retailer needs to follow three key steps to get the business running successfully:
• Market research and planning
• Setting up the online store and streamlining the operations
• Marketing: Attracting visitors to the store and converting them to buyers.
In this article, I will briefly cover the first aspect, ie. research and planning.
Research & Planning: Laying a strong foundation to your online business
This is one of the most neglected aspects, simply because aspiring entrepreneurs often get carried away by the overall simplicity of getting their online business up and running.
However, identifying the right niche is absolutely critical. Get this wrong and your Internet business will flounder.
Here’s how I recommend going about identifying a niche market (http://www.internet-retailer.com/product_map.htm) (we’ve used this process quite effectively). Consider the factors below, address some of the questions listed and you are well on your way towards e-commerce riches:
• Market and market size: Determine if there a market for the product you are trying to sell online. It is important to know whether the targeted buyers of your product purchase online! Once you have estimated the size of a market, it will be prudent to see if the market can be further broken down into more narrow niches with lower competition and potentially better returns.
• Search potential and competition: Analyze the volume of search traffic (both free and paid, preferably the former) that you will be able to generate, as search traffic is among the lowest-cost means of getting visitors to your website. There are several tools available to do this, the most common being the Overture (Yahoo! Search Marketing) search term suggestion tool.
• Competition: Are there big players in the market you are targeting that you need to be wary of? There is certainly no shame in locking horns with the big players but you need to be aware of them and find out means to be better than them. In fact, being a small company/ business might even work to your benefit!
• Profit margins: Does the product offer sufficient margins to make it a viable, sustainable business? Take into account all the costs that you can readily identify and add a certain percentage to it to estimate your profit margin. Remember you can only be better off when you’ve planned and prepared for a worst case scenario.
• Product supply: Can you ensure regular supply of the product? Which suppliers would you like to source your products from?
• Logistics and fulfillment: Does the product you intend to supply involve high shipping and handling costs? Does it require significant level of customer support and other specialist resources? What is the likelihood of product returns and how much should you factor in your estimations?
Once you have addressed all these questions to base your decision on the choice of the product(s) to sell, you would have laid a reasonably strong foundation for your online store. Moreover, this research will enable you to formulate strategies in building your website and its marketing. The next step is to build on that strong foundation and begin executing on the strategies you’ve drawn up, which I will cover in a subsequent article.
Setting up an Internet business is easy. Running it successfully is slightly more challenging. Which is why countless new Internet businesses emerge every day, only to fold up immediately or wind up slowly in a few months’ time.
The truth is that most of these failures are due to inadequate planning and preparation; the Internet still provides one of the easiest means to realize one’s dream of running a successful, low-cost and highly profitable business.
Based on my own experience with running several online businesses, mainly niche Internet retail stores, I am confident that some due diligence before embarking on the Internet retail business will go a long way in ensuring its success.
At a very broad level, an aspiring online retailer needs to follow three key steps to get the business running successfully:
• Market research and planning
• Setting up the online store and streamlining the operations
• Marketing: Attracting visitors to the store and converting them to buyers.
In this article, I will briefly cover the first aspect, ie. research and planning.
Research & Planning: Laying a strong foundation to your online business
This is one of the most neglected aspects, simply because aspiring entrepreneurs often get carried away by the overall simplicity of getting their online business up and running.
However, identifying the right niche is absolutely critical. Get this wrong and your Internet business will flounder.
Here’s how I recommend going about identifying a niche market (http://www.internet-retailer.com/product_map.htm) (we’ve used this process quite effectively). Consider the factors below, address some of the questions listed and you are well on your way towards e-commerce riches:
• Market and market size: Determine if there a market for the product you are trying to sell online. It is important to know whether the targeted buyers of your product purchase online! Once you have estimated the size of a market, it will be prudent to see if the market can be further broken down into more narrow niches with lower competition and potentially better returns.
• Search potential and competition: Analyze the volume of search traffic (both free and paid, preferably the former) that you will be able to generate, as search traffic is among the lowest-cost means of getting visitors to your website. There are several tools available to do this, the most common being the Overture (Yahoo! Search Marketing) search term suggestion tool.
• Competition: Are there big players in the market you are targeting that you need to be wary of? There is certainly no shame in locking horns with the big players but you need to be aware of them and find out means to be better than them. In fact, being a small company/ business might even work to your benefit!
• Profit margins: Does the product offer sufficient margins to make it a viable, sustainable business? Take into account all the costs that you can readily identify and add a certain percentage to it to estimate your profit margin. Remember you can only be better off when you’ve planned and prepared for a worst case scenario.
• Product supply: Can you ensure regular supply of the product? Which suppliers would you like to source your products from?
• Logistics and fulfillment: Does the product you intend to supply involve high shipping and handling costs? Does it require significant level of customer support and other specialist resources? What is the likelihood of product returns and how much should you factor in your estimations?
Once you have addressed all these questions to base your decision on the choice of the product(s) to sell, you would have laid a reasonably strong foundation for your online store. Moreover, this research will enable you to formulate strategies in building your website and its marketing. The next step is to build on that strong foundation and begin executing on the strategies you’ve drawn up, which I will cover in a subsequent article.
Monday, March 1, 2010
Best Retail Point
Choosing the right retail point of sale system and software is not a decision to take lightly. These systems can be very expensive, and making a mistake in selection can cost in the thousands, if not tens of thousands to correct. Now the type of POS necessary for a retail store, clothing store or boutique will be different from the type of system and software needed for lets say, a restaurant.
Many in the industry will tell you that the term "point of sale" software or system has become a mostly outdated term. Your software handles much more than the sale aspect of the transaction - retail management software is a more accurate description. Now whether you refer to it as a POS system or retail management system - it will do the same.
Your retail management system will handle cash and credit card transactions, manage inventory, integrate with an online shopping cart system, bar code scanning, update inventory prices, manage payroll, maintain your accounts payable and receivable as well as other general ledger duties.
The right retail POS can also boost your marketing efforts as well. If your system tracks client or customer spending and contact information, you can use this as a tool to send them newsletters, coupon deals, loyal customer discounts and other things that will increase your return customer rate.
Your software will also greatly reduce the amount of bookkeeping and accounting work you have to do, by streamlining your record keeping - there will be less errors come tax time. And you know how critical accounting mistakes can be.
Now that I've briefed you on all the wonderful advantages to a retail POS system, it's time for you to decide whether you are ready to make the investment. To do this, you should ask yourself a few questions:
1. Will a retail management system help streamline my day to day business activities?
2. Do I have the patience to learn and train my employees?
3. What do I hope to gain from my point of sale software system?
Take the time to literally write down the answers to those three questions. Make a list of what your specific business needs are, how much you want your POS system to do for you, and how much you are willing to invest. Review your answers and then we can move forward with finding the best software for you. You will want to take price, learning curve and long term maintenance and reliability into mind as well.
Going Out of Business
Many stores used to operate under the premise of closeout deals or 'going out of business' sales. However, the sad truth of today's economy is that many businesses ARE going out of business and needing to get rid of their inventory and employees. The business world isn't doing anything notable as of late, or at least nothing that is more notable than the number of people who are losing their jobs and finding that they are unable to get another one. It's really tough for many people to deal with, and definitely the main cause of all the stress-related accidents and violent crimes that have been going on for the past year.
It takes a toll on many people in ways that you might not imagine. Some people are so defined by their careers and their positions that they simply fall apart when their job is lost, leaving them with nothing more than a depressed life of despair. Some are much easier able to pick themselves up and get back on the horse, but the economy is running out of horses for people to get back on.
Going out of business used to be uncommon in the world, and only for small stores and businesses that didn't set themselves up right. Now you hear and see stories about big-name companies going out of business, companies like GM filing for chapter 11 bankruptcy, and the banks of the U.S. asking for government money so that they don't fall apart, either. It's all very disheartening, but it can get better, and eventually it will. It's easier said than done, but ultimately you need to try to keep a positive attitude about things as best you can so that you don't become another person with a pessimistic attitude about the economy.
All that people can do is trust that eventually things will get better, and hope that this happens sooner rather than later. People don't need to lose any more jobs, and the U.S. doesn't need to lose anymore businesses. There are so many great companies out there hanging on by a thread, and it's a constant fear for employees not knowing who's going to be next on the chopping block. If you are working for a company that is on the edge, or have already been a victim of the economy, you can trust that in time, things will work out. There are a few jobs out there to be found for those who are looking, but only if they are willing to accept whatever they can get.
Retail Pharmacies
Since the Veterinary Regulations 2005 reclassified all animal medicines a number of animal health care products, including several in the NFA-VPA category, are actively being sold through retail pharmacies. Despite the active promotion of Veterinary products in Pharmacies including the Co-op group, Pharmacies aren't traditionally thought of when it comes to veterinary medicines. For the time being, Veterinary practices still have the edge, yet it is in danger of being eroded.
In order for Veterinary practices not to lose out to this invasion of this valuable market, it is important to fight to ensure that the best and most effective presentation of medicines is made in each practice. This way each customer coming through the door will understand the range of available product and retain their natural first inclination to make Vets the first port of call for Vet medicines and animal related specialist products.
This can be achieved by a careful review of how customers are presented with your Veterinary Practice. Do they enter into an attractive, welcoming reception area? Are they easily able to see a range of produce on display which they can conveniently inspect and purchase? Are they aware that they can purchase certain medicines over the counter, without having their pet in treatment? Are the treatment rooms of high quality, well equipped and fitted out?
Choosing a fit out partner with extensive experience in designing and fitting out commercial premises in the health care sector can assist you in addressing many of these questions. High quality companies specialising in this sector will provide a wide range of services from the total fit out solution to individual furnishings such as reception desks, storage furniture, dispensary fittings and all ancillary services.
Refit Wisdom
The current economic environment means that the pressure is very severely on for those who are continuing to survive in the High Street. Those who are still present are often standing out purely because of their mere presence, but is this sufficient? Wish shopping becoming increasingly competitive there is even more reason to make the "experience" of visiting a real premises rather than a virtual one on line, one to be enjoyed and relished.
Because of this, refitting a professional or retail premises involves more than simple display of merchandise. It is therefore critical to choose a shopfitting partner with specialist knowledge and a willingness to listen to all the needs you, your team and your customers have. Most importantly, skillful planning requires an understanding of working practice within any busy ethical practice.
Areas of particular concern may be:
• Merchandising retail layout for the most effective retail sales
• Ensuring effective supervision of pharmacy only medicines
• How to effectively incorporate a workable consultation room
• Ensuring that the layout of the shop and dispensary does not contravene DDA regulations
• Segregating access to staff facilities to avoid the dispensary becoming a corridor
• Ensuring correct ergonomic planning within the dispensary to avoid injury or strain
In addition to these may be issues relating to the building structure:
Removal of walls, changing ceilings and lighting effects, repositioning doors, shopfronts, signage, flooring levels and finishes.
All of these issues require the expertise of specialists who are more than shelf suppliers but understand the total implications of growing your business through carefully planning, not just for the refit but the needs you have on into the future.
Are You Protected?
Counterfeit detection is an important topic no matter where you work. I have a relative that works for a retailer managing the checkout counters and customer service areas. She recently cashed a check and received four fifty dollar notes. She used some of these bills to pay for an extracurricular activity at her daughter's school. One day later, the school called to let her know one the fifty dollar bills was counterfeit.
Through a low-cost counterfeit detection device, it was determined that the bill was a fake. While the school had no intention of turning her over to the authorities, they did want their $50 back!
Considering this relative's extensive retail background, she should have been more aware of the need to verify larger bills. Since the bill was traced directly to her, she ended up $50 in the hole. This can be a tough lesson to learn. So what can you do to protect yourself?
Determining the Authenticity of Your Money
There are many areas relating to fake money detection and bill authenticity. These areas include:
- Type of Paper
- Magnetic Ink
- Security Threads
- Various Colors
- Various Watermarks
- Fine Printing
- Serial Numbers
Despite all the above features within the current money supply, counterfeiters are still quite successful at producing fake currency. There have been technological advances in printing and imaging that have allowed counterfeiting to grow. In addition, the current economic climate does not help. With the current unemployment percentage and a depressed job market, each of us should have a increased sense of awareness that we, too, could be cheated. So how can you protect yourself?
The first step is to become familiar with the security components of your currency. The paper has a specific feel. The printing is crisp and clear. The colors are muted. Be especially mindful of this with twenty and fifty dollar bills.
You should always question the source of your larger bills. In the last few years, credit-strapped consumers have been using more cash. More cash usage translates to more opportunity for passing phony money.
But there is something you can do. With proper training and some inexpensive counterfeit detection products, businesses and consumers can do a great job in protecting themselves. The Secret Service publishes a simple but detailed guide called "Know Your Money".
This guide details the specifics of each bill denomination so that you can understand the difference between a five dollar bill and a fifty dollar bill. I encourage you to download this guide and post it in the back room of your business as a helpful guide to your employees.
Types of Counterfeit Detectors
There are several different types of counterfeit detectors on the market. These instruments can detect the authenticity of the bill paper, the ink printed on the paper, and the various security threads woven in. In addition, there are a large range of price points, allowing you to make the proper investment based on your business and your budget.
My neighbor runs a garage sale every year. For a few dollars, she could use a counterfeit detection pen. These work by making a small mark on the bill. If the mark is amber, the bill is ok. If the mark is brown or black, the bill is suspect.
Other counterfeit detectors use ultraviolet and white light to show the security threads and authenticity of the paper. These devices are a bit more expensive ($35-$60), but are easier to use. More expensive money detection products can indicate if the note is suspicious by checking the security threads, paper and the ink. These detectors do cost more, but the process of checking is more automated and they quickly pay for themselves within a short period of time.
My relative has definitely learned her lesson! This year, at her daughter's Girl Scout cookie sale, you can bet she'll be more careful of the currency that is exchanged. With all the counterfeit detection products available, there's no reason anyone should be stuck with phony bills.
Monday, February 1, 2010
Designing a Restaurant
A restaurant owner may know how to create a comfortable environment that welcomes customers time and time again. Yet, by making simple changes in this environment, you can not only increase repeat business, you can attract new customers and make more sales. Assistance is often needed to accomplish this goal so do not hesitate to hire an interior designer trained in aspects of environmental psychology. Simple changes in lighting, seating and background music can have tremendous benefits. The designer will be able to determine exactly works best for your restaurant.
Any interior designer will tell you that an inviting entrance draws in customers. This is their first impression of your restaurant and you want it to be a good one. Offer views of every portion of the restaurant, from the bar area to the dining area. Whenever possible, seat people close to the front of these areas so your restaurant will appear busy even when it is not. Seating is also important to many when choosing a restaurant. Ensure there is plenty of booth seating available as customers seem to prefer this. A physical structure, whether it be a wall, a window or a partition, helps the customer to feel that he has personal space. Research suggests that booth seating encourages guests to linger longer which may result in increased sales.
Lighting and music should be determined by the average age of your clientele. Younger people can tolerate more stimulation than older patrons. If you are looking to attract families, louder music and brighter lights will be appropriate. If those whose families have grown and gone are your expected clientele, add lighting to each individual table and ensure that there is a wall or other partition between tables or booths as this helps to mute noise. Music should also be kept at a lower level for these patrons.
An interior designer can also assist you in increasing customer turnover. This is the number of people you can serve in particular time frame. Upbeat music, 120 beats or more, will increase the speed of your servers. It will also decrease the length of a customer's stay. Freestanding tables also reduce time guests will spend at a table and distance between tables can increase server speed. Both can increase the number of customers you can seat in an hour. As you can see interior design is very important when planning a restaurant. Use this knowledge to your full advantage.
Restaurant Interior
Each design job is unique yet any qualified restaurant interior designer will follow a few basic steps. By ensuring that each step is completed properly, the designer can guarantee the work will be done right the first time and that you will be more than satisfied. By knowing what these steps are before you hire a designer or design firm, you will be able to ask informed questions and get someone who is qualified to handle the job.
First, your interior designer will come to your location to assess a few things. He will need to know the size of your building, any permanent fixtures which must be accommodated, and your feeling for the restaurant. Size will determine what can and cannot be included in the final design. Permanent fixtures will need to be accounted for in the design and your vision of the restaurant will give him a jumping off point. After completing this step, the designer will then proceed to draw up a few ideas with visuals for you to view. You can either choose one of these designs or show him what you like about each and what you don't like. Then he will have a better idea of what you are looking for and can come up with some new designs which incorporate these features.
Once an agreement has been reached between you and the interior designer on which plan to use, the work will begin. The working plans may need to be submitted to governmental authorities for approval. The designer and/or his firm will take care of this. If approval is granted, the work can begin. If not the designer will need to make any necessary adjustments and may need to work with you to alter the design to meet building codes. The first step after approval is to set up a schedule of work to be completed along with deadlines. Contractors will need to be hired and your interior designer will take care of this also.
Now that all workers are involved, a project manager will be assigned to the job. His main function will be to ensure all work is completely promptly and correctly. By having him on site any problems that come up can be dealt with immediately. An issue in one area can affect the whole job if not resolved quickly. The project manager does everything in his power to prevent these delays. He will continue on your project until all work is completed. If, when interviewing designers, they say they outsource any portion of this process or try to pawn anything off on you, look for someone else. You have enough to worry about getting other aspects of your business up and running, leave the interior designing to the pros.
Interior Design
The interior design of a restaurant is very important as it can draw customers in or it can make them never want to come back. Not only do you have to consider how to best draw in customers you also have to ensure the design allows for productivity of your employees. If the layout is poorly designed employees will need more time to complete regular activities which can lead to poor customer service. Don't leave this to chance. It may be best to hire a restaurant interior design firm to ensure you can meets the needs of your employees while giving your customers an atmosphere they cannot wait to return to.
When considering restaurant interior design and how it will affect your customers, the first rule to remember is that you cannot please everyone. Someone is going to walk in and not like the look of your restaurant and that is okay. As long as the majority of your customers are comfortable you will be fine. The easiest way to do this is to allow the interior to reflect your personal tastes. A combination of ambiance and good food will be sure to bring people back time and again.
The layout is also important in restaurant interior design. Kitchens should be designed in such a way that a number of people can work together comfortably without interfering with each other. Areas will need to be set aside for food storage, incoming shipments, and dishwashing as well as food preparation. Always allow room for expansion in the future as your goal is to grow your business. Two other areas that need to be focused on for employee satisfaction are the employee bathrooms and staff area. The restrooms for employees don't have to be attractive, just functional. Employees do not want to have to share with the customers and should not be forced to do so. The staff area is important for a similar reason. Your workers need somewhere to put their personal belongings and have a breather when things slow down. Make this comfortable, but don't go overboard as you don't want your employees spending too much time in this room.
When considering restaurant interior design that will affect the customers, there are many areas you need to take into account. Space is important in the dining area. Employees need to be able to move around between tables with ease and customers don't want to be sitting too close to other tables. Yet you need to balance this by taking into consideration that open areas can be overwhelming when the restaurant is not filled to capacity. Don't forget a cashier area placed discreetly by the door. Ensure this does not interfere with normal flow of traffic. By considering all of these things when designing your restaurant, you will be sure to have a layout that is pleasing to all.
Your Restaurant
When planning the layout of your restaurant, don't hesitate to hire an interior designer. Hiring a professional to assist you can increase your business and attract repeat customers. By creating an atmosphere that is compatible with the food you are serving people will feel welcomed into the restaurant. It may be as simple as adding filtered lights to provide a romantic glow or it may be as extensive as designing your restaurant around a theme. This is also beneficial if business is not as steady as you were expecting. The food may be perfect and the service may be great, but the ambiance of the restaurant can put people off from visiting again. An interior designer can help with this.
When you hire a professional, he will look at many things. First the interior designer will attempt to determine if the layout of your dining section is an asset or if it detracts from your menu in some way. If tables are too close together, people won't feel comfortable gathering for private conversations. Yet, if the tables are too far apart customers will wonder if there is a problem with either the service or the food. Also, be sure to include a bar area for those patrons who wish to cheer during a sporting event so other customers may not be disturbed.
Ambiance is another factor that an interior designer may wish to focus on. If you serve fancy French food that only an adult would love, you want an atmosphere that focuses on the romantic for couples. Yet, if you are serving all American food that families would enjoy, you want bright lights and fun wall decor. When the atmosphere conflicts with the food served, customers do not feel comfortable.
Function is an important part of any restaurant. This closely coincides with both the layout and the mood of the room. When considering function, you need to determine if your restaurant will attract families or if it will be a romantic getaway for couples. This is important to not only set the mood of the restaurant; it also helps you to design a layout that meets the needs of your clientele. With a family restaurant, tables may be placed close together with just enough room for people to comfortably move around. If romance is the goal, tables will need to be spaced further apart as couples want to have a quiet conversation without worrying someone will overhear. An interior designer will need to know the primary function of your restaurant in order to create the perfect setting. As you can see there is a lot involved in designing a restaurant. Hiring a professional may be the smartest move you make.
Clothing Displays
Slatwall is an excellent way of displaying your wares in a retail business, as it is both easy to use, easy to replace and easy to modify. It can be employed to display a huge range of goods, from sporting equipment to jewellery, via toys and crockery, and for a relatively low price, so it is highly recommended for shops selling almost any type of equipment. However, one of the most effective ways of using slatwall is to display clothing, as even though clothing and footwear comes in a vast array of shapes and sizes, slatwall's adaptability can be utilised to its full effect to show off all such goods.
Slatwall comes in a variety of different styles, both full- and half-panels, which can be used either to fit bars to display shirts, trousers or jackets on clothes hangers; or even shelving to make attractive wall displays of shoes and trainers. Furthermore, the fittings come in a variety of colours and finishes, which gives retailers a huge range of choice in picking out their ideal type of fitting, ensuring that they can design their dream store. Whether they are looking to create a stylish boutique or a shop capable of withstanding a daily deluge of customers, slatwall can be the perfect fitting to ensure you have the shop you want.
For example, you could just go for a simple form of slatwall, using cream, grey or white panels, which will only set you back around twelve pounds sixty a panel. These are not the prettiest or most exciting panels, but they are useful, cheap and fully functional - on the other hand, they will not draw attention away from clothing on sale, allowing the goods to do the talking.
Yet, at the same time, a shop selling an excellent array of high-quality clothing shouldn't really have much problem shifting their goods, so you may want to spend a little more money to ensure that your shop looks as good as it possibly can. Therefore, depending on what type of clothing you are selling, you might want to go for a classy look for your slatwall, or brighter, more vibrant panelling for a trendier store or children's clothing shop.
So let's first have a look at an upscale boutique, perhaps something selling designer clothing or suits - what kind of slatwall would fit into such an establishment? Well, you could go for wood effect panelling, which is both clean, classy and will fit in beautifully to an upmarket establishment. However, such panelling will not come cheaply. Expect to pay around thirty five pounds for each panel - of course, while this may seem a little wasteful for normal clothes, designer gear or suits should be displayed both prominently and tastefully, so it is worth investing a little extra.
For younger, trendier shops, you can buy some colourful slatwall - it comes in either blue or green for thirty seven pounds eighty, or yellow for forty nine pounds. Yes, it may be even more expensive than wood effect panelling, but it could well help shift clothes - it will be easy to catch people's attention in both trendy boutiques and children's clothing stores. Simple, but true.
So while slatwall may seem like just a series of panels, it has both the versatility and range to display items of clothing either tastefully, prominently or in a way to catch the attention.
Saturday, January 2, 2010
Merchant Account
If you're trying to grow your business bigger and have hit a road block or two you might consider whether or not it is due to how many payment options you are giving your customers or more specifically whether or not you are accepting credit cards. If not, then here are some important facts about consumer buying that you might have not considered.
Instant Gratification
In this day and age consumers want it and want it now. Not tomorrow. For this reason accepting credit cards allows your customers to scratch that buying itch now. Accepting credit cards via your merchant account also lets you tap into a gigantic market of impulse buyers. (Consumers now days rarely engage in impulse buying via check.)
You Get Paid Quickly
Also by accepting credit cards you get paid in days and not weeks. Remember that if you are running your business by accepting only checks this slows the whole process down as you have to wait on the post office for delivery and then the bank for actually processing the check. Then you get to wait for the check to clear. But by setting up a merchant account this whole process is circumvented. Payments from your merchant account provider are quick. In fact you can expect payment in about 3 to 5 days.
Merchant Accounts are Easy To Set Up
Also unlike in past days the whole process of setting up a merchant account has been stream lined. Applications are simple, short and the whole thing can be done on-line. And unlike in days past notification of acceptance is usually in a day or two.
So if you've hit a few financial roadblocks and are only accepting checks from your customers you owe it to yourself to set up your merchant account so you can start cashing in on your customers who want a higher level of convenience in their shopping experience.
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Receipt Scanner
In some ironic event that you're starting to look for the greatest receipt scanner and you may perhaps use various advice on which one to purchase, we created a select few guidelines and suggestions for you to take into account that must greatly simplify your search in lieu of the greatest scanner for you. Making the choice to use a mobile scanner can strongly enhance your method of running digital input, as well as when the safe guarding of valuable documents is of the maximum magnitude. Prior to committing to a specific scanner, we advocate that you keep in mind the following points.
This case along with every new and complex computer peripheral, small scanners have evolved to be a lesser amount of complicated and simpler to take advantage of. Mobile scanners are designed in support of the majority of your day-to-day scanning necessities, like organization contacts, expenses, travel claims, misc documents... whatever you choose. In virtually no time at all they yield an outstanding level of sharpness in a way to meet your every need. In today's marketplace, the outlay for the most excellent receipt scanner is a very controllable expense whether you'll be using it for pleasure or getting down to organization.
Single of the most well-liked qualities of a receipt scanner is their portability, because you can use them in so many various scenarios. Already installed in the scanner package is a custom scanning software that will let you to open images and text and save them in a variety of formats. With id cards, the scanner will separate the numerous parts, as well as the full card image, photograph picture, signature, and any text of the id and next sort it into useable data report, into an outside document, then your clipboard, or any application you feel are appropriate.
Previous to committing to the receipt scanner please dedicate some consideration to the next few pointers: (1) figure out what you need/want a scanner for; (2) search the Internet for related scanners; (3) compare and contrast the technical specs of each scanner; (4) do a bit of background investigation on the company itself and distinguish what other users' opinions say; (5) look deeper into shipping methods/charges and returns for more information. And that's how you should go about finding a receipt scanner to fit your needs!
Importance of Stackability
For those who are not in the retail line, stacking things up may not seem as important as we make it out to be but we are ever ready to share with you the importance of using retail stackable shelves. We are sure, as with all other types of retail business, space is a major constraint. While using wall-mounted display system is the best option if space is an issue, it can be combined with the use of good retail stackable shelves.
For example, you need something to be at eye-level to attract attention, so you stack a couple of glass-paneled shelving system together to great a monumentally attractive and in-your-face display rack. You need a good set for this because using cheap and unreliable retail stackable shelves might mean running the risk of toppling the shelves over which is not good for business, dangerous and also costly.
Mobility, that is what we are looking for too. Most retail outlet owners value things that are flexible. Perhaps, something that you can move around as things change or there is a need for a retail stackable shelves somewhere else....a new outlet, maybe? Yes, when the shelves are movable and flexible, it gives you more room to be creative.
But when talking about mobility and flexibility, you need to understand that product reliability and quality comes into play, so, invest in something that can last you at least a couple of years, preferably a decade or longer.
There is another thing about having stackable shelves and that is if ever the need for renovation or repainting arises, your shelves can be easily moved to a safer place where the dust and paint won't ruin it. It is not usually something that people outwardly look for, but since you have already read this article, bear in mind: flexibility, mobility and stackability.
It will be something you will thank us for in the future.
Hang Negative Signs
Yesterday we went to our favorite local deli for lunch. The food is excellent, the people are friendly, the store is always spotless, and the prices are fair - all the things that keep people coming back again, and again.
We feel good about going there, BUT on the front door is a big sign that says, "NO Public Restrooms". And just to make sure we do not miss the message, they placed it right about the doorknob so it is the first thing we see as come in to grab a bite to eat.
A couple of thoughts about this (stupid) sign...
First of all, keep communication with your customers positive! Signs with negative, controlling messages are a turn-off and should be used as a very last result.
The first thing your customer should see when they approach your store is a clean, welcoming front with an interesting window display - not a sigh, or signs, telling them what they can not do while in your store.
The last thing your customer should see before leaving your store is a smiling face saying a heartfelt "thank you", not a sign taped to your register saying you are going to charge them $35 if they bounce a check.
Secondly, let people use your toilets for crying out loud!
It is true that occasionally someone might leave your bathroom a mess or that some people will come in, go, and not spend any money. But more often than not they will buy something while they are in your store and sometimes that "bathroom break" person will turn into a regular customer who will spend lots of money with you down the road.
One thing is for sure though - if they do not come in, they are not going to buy anything.
Finally, we understand why this sign appeared in the doorway to the store. The staff got tired of telling people who came in and asked that there were no public restrooms. To which we say - too bad!
The pleasure and appreciation of your loyal customers and soon-to-be-customers is paramount, not the inconvenience or interruption to your employee's day.
Treat your customers like welcome guests and they will come in more often, spend more money, tell more people about you, and help you become the success you deserve to be.
Retail Merchandising
I went shopping this weekend. As always, my experiences as a customer - the good, the bad, and the ugly - provide ample inspiration for this article.
Here is a tip on a tricky topic for almost every retailer...
WHEN DO YOU OFFER TO PLACE A "SPECIAL ORDER"?
I was in a large specialty housewares store near my home looking for a recipe box and coordinating recipe cards.
When I finally found a nice looking pattern, all the boxes were blue but all the recipe cards were green. Of course, I found a salesperson and asked if there might be any blue cards or green boxes in the stockroom. Nope.
The woman helping me really did want to give me great service and make my shopping experience a success. So she offered to place an order for the blue recipe cards...
I quickly declined!
What is supposed to be a wonderful service gesture is all to often a recipe (heh, heh) for disaster from either a customer service point of view or from a profitability point of view.
Here is why...
The recipe cards are a low priced item from a tiny category in the store so placing an order just for them would likely involve one of two scenarios.
Scenario One:
You usually can not just buy one or two small items at a time from a vendor; you have to place a minimum order of several hundred dollars. So to give quick customer service the housewares store would have to place a mimimum order from the recipe box vendor for merchandise they did not need just so that I could get my $4 blue recipe cards.
Do this for customers just a couple of times a week and you can rapidly get into an overstocked situation. Which leads to bad cash flow, bigger markdowns, lower margins... the ugly list goes on.
Scenario Two:
The housewares store could wait, hold my $4 order until they needed to place an order with that vendor, hopefully remember to add my cards to the order, pray that the blue cards were not discontinued or out of stock, call me when they finally arrived, and pray some more that I actually came back to the store and pick the cards up.
It is a LOT of work for a very small sale and a marginal customer service gesture. In fact, it could quickly turn into a negative service issue if the special order takes too long or is never actually completed.
(I know some of you are laughing right now because it happens in your store all the time!)
So how should you handle these types of orders?
Well, the first line of defense is to prevent the need for most special orders by buying correctly for your store in the first place!
Second, have a conservative policy in place - one that makes sense for both your customer and your store.
I recommend that you only offer special orders on higher priced items (how high depends on the type of merchandise you sell) from a set list of vendors that you know can ship consistently and quickly.
For example, it would have been both great service and a profitable sale if the housewares store offered to special order a $230 9qt. copper casserole from their biggest cookware vendor.
Make sure your special order policy is clear and specific. Then train your staff to use those guidelines when offering to order something special for your customer. If they offer a special order only in those situations where it will clearly benefit BOTH the customer and the store, everyone will be happier.
Of course, there may be situations where, even when your sales person does not offer, the customer begs you to order those $4 blue recipe cards. But with a more conservative policy they will be few and far between.
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