Archive for May, 2008
More on Supplements
Friday, May 23rd, 2008If you have a natural foods or health-related store, you may find that dietary supplements are a great way to draw regular traffic. The one thing to be certain of, however, is that you do your research. There’s always a chance that people will be deeply unhappy with something taken internally, so you want to be in a good position to advise them of any potential side effects or warnings. If you’re carrying something like Lipovox, you should know all about it so your customers feel good about you and your store. If you can’t commit that kind of time, it may be an area worth steering clear of.
Should You Franchise?
Friday, May 23rd, 2008A lot of new business owners wonder if they should open franchises, and unfortunately, there’s no universal answer. A franchise can be great for an inexperienced business person who wants a little guidance. Of course, it can also be limiting, as you’re bound to adhere to certain brand standards enforced by your franchise.
If you’re contemplating the move, consider how much freedom you want in your store’s destiny. Also, check out the amount of local advertising your prospective franchise gets. In some cases, you may be able to virtually eliminate marketing responsibilities by going with an established franchises. In others, you’re paying for something that may or may not gain popularity in the future (though that’s kind of a given with going it alone, too).
What do you think? Leave your thoughts in the comments!
Drawing the Line in Your Store
Friday, May 23rd, 2008When you’re picking wholesalers and products in your store, you may be tempted at times to add products that really don’t fit your store. For instance, maybe you want to start a section on dieting and fit living. As you’re doing some wholesale research, you come across a company that wholesales diet supplements. Even though your store is gift-y, you may be tempted to add things like Phentermine 37.5 mg alongside your balance balls and jump ropes.
Try to resist the urge. Recognize when a product is great for someone else, but not you. Have a plan up front and stick to it.
Bigger & Better? Should You Cater to the Obese?
Friday, May 16th, 2008Lately, it seems like a lot of gift shops are adding products to accommodate larger customers - larger rings and necklaces, plus size clothing, extra wide leg boots, etc. It’s hard to say if that’s the right decision for any given individual or store, but it’s certainly something to consider, given the percentage of the population that’s overweight or obese. It’s actually more than half!
What do you think? Have you made any accommodations? Do you plan to carry plus size products in the future?
Retail Pet Peeves
Friday, May 16th, 2008Even if you don’t realize it, you could be aggravating your customers without even opening your mouth. Most customers have their pet peeves, and some are odd, but there are other things that will drive pretty much everyone nuts. If you’re ignoring customers, talking on your Bluetooth headset, or eating as you check them out, they’re going to get mad.
What are your own pet peeves? Personally, it drives me nuts when salespeople talk your ear off, so it’s something I try to avoid. Leave your thoughts in the comments!
Starting a Book & Reader’s Section
Friday, May 16th, 2008If you run a brick and mortar store, starting a reader’s section can be a great way to increase your sales. It’s tough to compete with the big box stores like Barnes & Noble and Borders, but you can do very well with things like blank journals, reading lights, and reading eyeglasses. These items, combined with a small selection of bestsellers and perenniel favorites, make a great gift section for all seasons. Who doesn’t know an avid reader that they buy gifts for from time to time?
More Brick & Mortar Inspiration
Friday, May 16th, 2008I was traveling recently when I came across a small gift store that had a really unique strategy for getting customers to come in. Instead of constantly advertising, they offered free evening lectures and events hosted by people in the community. They had an evening where a local dermatologist talked about acne treatment, an evening where a local caterer talked about entertaining, and an afternoon where a nearby pre-school teacher talked to parents about teaching their young children before school.
Why is that awesome? Well, people in the community benefit, professionals in the community meet new potential clients, and the store gets foot traffic and exposure. Even better, local publications mentioned their events for FREE because they were helpful, not commercial. Outside of the small time investment, I see no downsides to this technique. What do you think?
Your Small Business Fleet
Tuesday, May 6th, 2008As a small business, you probably have just one or two company vehicles, possibly less if you have employees use their own cars. All the same, you may have heard about gps fleet tracking for keeping track of where your cars are.
My opinion? If you can’t trust your employees, don’t let them drive your company vehicles. Period. In a small business, there’s just no need for an expensive system like that. In a larger business, however, I’m all for it. They’re great when you can’t get close enough to make good judgments without them.
Pet Inventory Inspiration
Tuesday, May 6th, 2008If you have a lot of pet-loving customers, you should definitely look into a variety of pet-related items for your store, even if you’re more of a cards and candles kind of place. Some ideas: doggie snacks, dog perfume, cat toys, pet beds, dog toys, and fancy handbag-style carriers. More than half of all households have pets, so if you already have foot traffic, someone is bound to buy high-quality pet products.
Ever carried an interesting pet product in your store? Let us know in the comments.
Pegging Your Customers
Friday, May 2nd, 2008It may not be politically correct, but a great way to be successful in a small gift shop is to guess what your customers need by doing a quick assessment of them when they walk in. How are they dressed? Do they walk confidently and with purpose? Take a peek out and look at their cars. Do they drive large grandma-cars, or smaller vehicles with car spoilers?
If you can master the art of subtle profiling, you’ll be able to deliver a level of customer service that’s typically reserved for repeat customers. And who wouldn’t want to come back for more of that?
Should You Carry Diet Products?
Friday, May 2nd, 2008Considering that almost everyone wants to lose weight, you may be able to pick up some extra money by cashing in on the diet trend. If your customers know they can get rare and tasty diet treats at your gift shop, they’ll be fairly likely to come back on a regular basis (which is a tough thing for a gift store to accomplish, especially in hard economic times!).
If your clientèle is largely female, consider carrying diet bars, fitness books, or even something like Alli. You may find that it’s a nice sideline.
Security for Your Business
Friday, May 2nd, 2008As a small store, you may not have given much thought to a security system, but you should. Even if you run a home-based business and don’t allow customers to come in, you’re vulnerable to theft. Insurance may cover the loss (unless they’re not aware that you’re running a business with a lot of inventory), but they don’t usually make up for the time it takes you to get back up and running.
Considering that companies like Ademco make affordable and easy-to-use security systems, there’s no good reason not to get one if you’re serious about your business. Plus, you might even get a discount on your insurance once you install a system.