Retail Makeover

Day #65 - Preparing For The 4th Quarter - Part 5 of 14

Posted by retailmakeover on October 04, 2011 0 Comments

In-store And Display Window Lighting:

If you’ve been procrastinating about this one, now is the time to fix, or add at least 30% more light into your store; it will positively affect the way your store looks and help sell more products.

Barbara

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Day #64 - Preparing For The 4th Quarter - Part 4 of 14

Posted by retailmakeover on September 29, 2011 0 Comments

Build Your Database:

It’s a very busy time of year but don’t forget to capture customer contact info to grow your database.

Barbara

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Day #63 - Preparing For The 4th Quarter - Part 3 of 14

Posted by retailmakeover on September 28, 2011 0 Comments

Advertising and Promotion:

Advertising and promotion continues through this time frame roll out your plans to increase your customer base. Contact customers who shop in store regularly by phone, mail or email. Tell them what’s going on and why they need to drop by.

Barbara

Trusted Email Marketing and Online Surveys

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Day #62 - Preparing For The 4th Quarter - Part 2 of 14

Posted by retailmakeover on September 27, 2011 0 Comments

Front window and in-store signs:

Ordered to coincide with display installs and promotional time frames.

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Day #61 - Preparing For The 4th Quarter - Part 1 of 14

Posted by retailmakeover on September 26, 2011 0 Comments

What should I be doing to prepare for the 4th quarter?

i.e. hire staff, revise my floor plan….
4th quarter - the biggest sales of the year are finally here. Here is the ultimate checklist for you.

Good Luck!

Retail Evaluation Checklist: 14 must do tips…

1. Store Front window and feature displays – install dates and themes decided on, product selected and product delivery guaranteed.

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Day #60 - Pay Yourself First!

Posted by retailmakeover on September 25, 2011 0 Comments

"How much of a salary should I be taking from the business?" or

"When should I start taking a salary from the business?"

These are very important questions.

Paying yourself for the work you do is at the core of your work values. Many of you do not pay yourself enough or are maybe thinking,” I’ve never taken a salary”; sometimes I get my expenses covered.  I feel it’s not right. Your work as a retailer should not be looked at as a hobby or just something to do or my spouse makes enough. If I’ve hit a nerve - please understand that I get it. You have to pay yourself. When you honor this idea your attitude and how you make this happens shifts.

About the question, when should I start paying myself? You should plan to start paying yourself in the first year.  This strategy should be reflected in your business plan if you are setting out to be a new retailer. I hear you laughing out load about what I’ve just written if you run a retail business right now. I’m serious; if you didn’t do that, what were you thinking?  Pay every expense, every person that works for you and NOT YOU!

Here is my guideline for your salary. Plan to pay your self up to 20% of total sales in any given year. So for example, if your sales are $250,000 – you pay yourself $50,000. If you are  not doing this - it needs to start happening now. Increase sales to cover what you should be making. That’s your goal for this year.  Increase your sales by $160 a day. That’s all you’d need to do to make these numbers. It’s possible; you can do it.

Need help please contact me. I have the answers and solutions to rightsizing your business with a focus on increasing sales, keeping you on budget and finally paying yourself better then you have every before.

Barbara

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What's good interior design software?

Posted by admin on September 22, 2011 0 Comments

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Day #59 - What Training Is Essential For New Staff?

Posted by retailmakeover on September 16, 2011 0 Comments

Retail Staff Training guarantees better productivity. Properly trained retail staff deliver better results while achieving a higher customer focus.

You'll be competing primarily on price, unless your staff is better trained with more knowledge about your products than your competitors. This is not a good position for you as a retail specialty store, as it is next to impossible to compete on price with the big box retailers and national chains given their huge buying power and economies of scale.

I see this time and time again. Retailers investing in advertising and marketing, driving people in to their stores  only to have staff that does not have the right training to talk about the products properly. If your  staff is  not making recommendations customers leave without buying. Now I’m sure that’s not what you want.

Here are the four areas of training that are essential for new, and I’m throwing in your existing staff as well.

1. Product Knowledge
2. Customer Service
3. Store Procedures
4. How to Sell Effectively

Product Knowledge:

Your staff should  know the features and benefits of the product that are sold in your store. They must know what they are selling to be effective salespeople. Mix this with enthusiasm and love of the product , you will have a winning combination. Are you lacking information on the products you sell? Maybe you have been lax in this area! Call up vendors and your reps and get what you need. Next start reviewing this information with your staff. Make it mandatory that your staff learns this information.

How to Sell Effectively:

Here are a few issues that should be covered in your weekly training sessions. Notice I said weekly.

1. What are the best qualifying questions to ask?
2. How do you determine customer needs?
3. How do you overcome customer objections?
4. What are the best ways to ask for the sale?
5. How do you use scarcity and urgency to close the sale?
6. How do you create add on sales by recommending products that go with or complement other items?

If your staff is finding it challenging to answer these questions start role playing with them to discover the answers. This really works.

In-Store Procedures:

This can cover a lot of things. Here are some of the most important issues:

1. How you receive merchandise into your store.
2. Pricing and ticketing merchandise.
3. Putting the merchandise on the sale floor.
4. Special orders.
5. Re-stocking merchandise.
6. Re-ticketing merchandise.
7. Markdowns
8. Opening the store.
9. Closing the store.
10. Cash accountability.
11. The alarm.
12. Processing the sale.
13. Credit card use.
14. Accepting checks.
15. Returns.
16. Taking cash readings.

Customer Service:

Customers are turning their backs to businesses that do not deliver value. And good customer service adds value! There's no way around it. No shortcuts. Customers demand value for money, or they are out of the door.

Properly trained employees convert more shoppers into buyers, promote repeat business, and establish your store as an expert in your niche. Start your new staff off right and get your existing staff on board as well with regular training in the four areas I have shared with you.

Many of you do not see yourselves as the trainers and educators in your businesses. But that’s the role you must take on. Can’t do it on your own . Hire a  professional. It will pay for it self.

A new employee that is well trained will be an on going asset  to your business. Start off right with the next person you hire.

Barbara

[caption id="attachment_1735" align="alignleft" width="500" caption="Barbara training staff at Take a Hike to sell via Skype. Barbara is on the shelf next to the glass display."][/caption]

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