Thursday, November 7, 2013
On the business path: Retail
I have come to this topic after a few weeks since I was involved in writing about more immediate stuff and if are a regular reader then you can see that I would be putting more of other recent things in between the series of Business path, world of finance and on the lighter side-Movies (and as you can see On the lighter side-Travel depends upon my holiday schedule and more importantly my finances). So although there are many similarities between retail store and the one on the internet there are also differences to it which I will explain. For one thing there is the number issue of Location, like they say in real estate business that the number one, two and three issues are Location, Location and Location. Location is important because you need to have foot traffic in order to make your retail business a success. Unless you want to operate a very small store and have limited budget (no excuse here) and don’t want to grow your business and do not care about people outside your area knowing about your business then it is fine to just have your store in some area of the city where there is occasional traffic and you would be just fine but if you are millions of businesses who are desperate to grow their business or have in mind a plan to increase their business once they have established one store than internet exposure and marketing is essential which I will explain separately in other posts. For now I am going to go through the establishment of your retail physical location if you are planning to go along that route.