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Throwback Friday: Opening A Store

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What? Open a store? Are you insane?! No, because you don’t have to be insane to open a store. Ok, so physical stores aren’t as popular nowadays as online shops are taking over. However, that doesn’t mean there isn’t scope to open one and make a lot of money. Let’s face it – plenty of stores still exist, and they aren’t going anywhere anytime soon. You can take advantage just like they did, but you have to make the right decisions. With that in mind, here’s how to open a store that won’t close. People might say it’s madness – don’t listen!

Do It For The Right Reasons

There are a few things to tackle from the beginning. Quite simply, running a successful store takes a lot of time, money and energy, and even then everything can go wrong. No one can promise you will come out the other side smelling of roses, and no one can say you’ll enjoy the experience. It will be one of the hardest things you have ever done in your life. The previous statement wasn’t meant to scare you off – it was supposed to warn you. Life is going to be hard, so you should only do it for the right reasons like it is something you love. If you’re only in it for the money, there are easier ways to make a quick buck.

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Don’t Skimp Out

It is amazing how many people try and cut corners. The fact that they try to cut corners isn’t surprising; it’s the place they try to cut the corners that boggle the mind. There are so many examples of shop owners that skimp out on essential equipment because they think they don’t need it. The next thing they know, they are open for business without a retail management solution or a stock tracking system. Yes, you don’t have to splash out on every area of the firm, and you shouldn’t because it will cost a fortune. But, areas like business equipment are imperative.

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Hire But Don’t Fire

First and foremost, it is crucial that you take the hiring process seriously. The job might only require the basics, but your employees are representative of the firm and need to set a good standard. There are plenty of guides online that detail how to find the best candidates, but looking past their CV is the best one. Businesses and people are more than words on the page, so look into their personality. If you do make a mistake, it isn’t the end of the world. For a business like yours, it is better to try and train them into good employees rather than waste money on labor.

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Advertise

Do you have everything you need to open? If you’re ready, it’s time for the grand opening. Whether your store is big or small, there is always an excuse to have a grand opening. The most important one is marketing. Your store isn’t going to attract customers if no one knows it exists. By having a big opening, you are spreading the word and the brand.

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Opening a store does seem like an outdated idea, but it just might work.

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