Evaluating Your Clientele
By businessbroad | July 27, 2008
Depending on who’s coming into your store, you may actually be able to target groups that don’t come into your store. For instance, I get a lot of women in their late 30s-late 40s. After some thought about this age group, I realized that many have teenagers. With that in mind, I tested out items like acne treatment, yoga mats, and books on teaching your teen to drive safely. All three were a hit, despite that fact that they weren’t actively used by my customers. They bought them for their sons and daughters.
Have you ever had indirect success like that? Do share!
Topics: Brick & Mortar | No Comments »
Trends I Won’t Be Accomodating In My Store
By businessbroad | July 27, 2008
Despite the fact that we’d all love to be able to profit on every single consumer trend, it’s just not possible. We each have to assess our stores and investment abilities to determine what’s going to be most profitable for each of us. Below, check out some of the trends I won’t be hopping on this year.
Home theater seating - I love it, but I just don’t have the capital or the space.
Colon Cleansers - I’m not prepared for this one.
Video Games - My customers just won’t go for this.
What about you? What are you passing on for now?
Topics: Brick & Mortar | 1 Comment »
Dreaming of a Green Christmas
By businessbroad | July 27, 2008
It’s only July, but already I’m dreaming of the holidays - not just the money they’ll bring in, but the general hum of the season. I love happy customers. Of course, once December rolls around, I’m sure I’ll be totally stressed out and dreaming instead of St. Barts villa rentals - we always want what we don’t have, right?
That’s why I need to be sure to take a vacation before the holiday season starts. It’s best to work hard during the summer, then take a nice long vacation in the fall, and get back to the real work with a fresh mindset. How do you mentally prepare for the holidays?
Topics: Brick & Mortar | No Comments »
Memory Fitness
By businessbroad | July 27, 2008
Another item that’s been popular in my shop is a memory fitness kit. I noticed earlier this year that games like Brain Age and Su Do Ku have been really popular in recent years. Although they can be a little intimidating for the older clientèle that I serve, I reasoned that they might like a kit or book on the topic of memory improvement or mental fitness. With that in mind, I decided to locate a kit and it’s been selling like hotcakes ever since.
Have you ever had one of those moments of merchandising brilliance?
Topics: Brick & Mortar | 1 Comment »
More Ideas for Your Store
By businessbroad | July 27, 2008
I’ve been thinking about holiday inventory, and I just thought I’d include a few notes here on things I’ll be putting in and pulling out of my shop for the upcoming holiday season (can you believe it’s already almost August!).
Going Into the Shop:
Stockings
Christmas Trees
Red & Green dishes, decor, and textiles
Coming Out of the Shop:
Diet Pills
One section of books on summer recipes
Gardening Items
Outdoor entertaining housewares items
What about you? What are your plans for merchandising this holiday season?
Topics: Brick & Mortar | 4 Comments »
What Are Your Trophies?
By businessbroad | July 27, 2008
In every business, there are certain trophies that you display to your customers. Maybe you’ve won a local award, maybe you’ve been honored in a trade publication, or maybe you’ve actually won a trophy for some reason or another. In other cases, the store itself is the trophy, demonstrating serious time and commitment to excellence. Regardless of how it’s expressed, your store should display some kind of trophy.
Does yours?
Topics: Brick & Mortar | No Comments »
Dreaming of a Vacation
By businessbroad | July 17, 2008
I’m trying to get away. I’ve been working non-stop for months now, and I’m in desperate need of some time away. I’ve been dreaming about Vegas vacations, Caribbean cruises, and European backpacking trips. I really can’t decide, though.
If you could go anywhere for 2 weeks, where would you go? And tell me why, too. I could use a bit of inspiration here, as my own mind is just overwhelmed.
Topics: Brick & Mortar | No Comments »
Cards, Gifts, and…Weights?
By businessbroad | July 17, 2008
Recently, I went to a friend’s store and noticed she had started carrying weight equipment. At first, I was a little surprised. She runs a tiny gift shop that’s most often frequented by little old ladies.
Then, I saw two little old ladies chatting about dumbbells. My friend went over and helped them patiently, and they thanked her for being so nice. They explained that the sporting goods stores scare them and they never get help. For looking at things differently and being patient, she managed to open up a whole new market.
Topics: Brick & Mortar | No Comments »
Hot Electronics Items You Probably Won’t Be Selling
By businessbroad | July 17, 2008
Every year, there are certain hot items that you know you’ll never be able to buy for your tiny store. This year, those items include the Xbox 360, the Nintendo Wii, iPods, and the iPhone. So what’s a small business owner to do?
Get accessories. No one buys just an Xbox or just a Wii. Once they have the big item, you can be poised and ready to get the rest of their cash 
Topics: General | No Comments »
College Town Tips
By businessbroad | July 16, 2008
If you run a gift store in a college town, you may be able to capitalize on your location by offers items commonly pursued by college students. Remember, if you can get them in your store once or twice, you stand a great chance of getting them to come back at Mother’s Day, Father’s Day, and Christmas. A couple of tips that can help make that happen:
-Make a “dorm supplies” section. Depending on your preferences, this could include stuff like extra long twin sheets, college apparel, gadgets, or even crazier items like beer pong tables.
-Start an e-mail list and reminder service. Use a provider like Aweber to manage your e-mail list, but also include reminders to students a week or two before gift-buying occasions like friends’ birthdays or major holidays.
-Contact student groups to see if you can work out some kind of deal to get promoted in their e-mail lists. One cheap way might be to offer up a prize and let the list publicize the contest.
If you have additional suggestions, let us know in the comments!
Topics: Brick & Mortar | 1 Comment »
Furniture Stores That Carry Pet Furniture
By businessbroad | July 11, 2008
I came across a furniture store that struck me as absolutely brilliant the other day. Instead of merely carrying human couches and chairs and beds, they offered animal versions of most styles. I’m not sure where they sourced the products, as it’s a unique concept I’ve never seen before, but it definitely had an effect. I saw several people weighing sizes of pet pieces right alongside the human pieces. Not only does the store get a chance to upsell you on something like a cat condo, but they make it more likely that you’ll buy from them, given that no one else will have that particular piece to match.
For a pet lover like myself, it’s absolutely brilliant.
Topics: Brick & Mortar | No Comments »
More Product Ideas
By businessbroad | July 9, 2008
Looking for product inspiration? Have you considered the following for your gift store?
Weather Stations
wieght loss pills
Dishware
Accent Pillows
Lamps
Accent Lights
Wall Decals
Just search Google for something interesting and see what pops up. You shouldn’t have too much trouble finding the manufacturer.
Topics: Brick & Mortar | No Comments »
Store Accents that Make a Difference
By businessbroad | June 29, 2008
Most gifts stores are pretty much the same as the next. It’s actually kind of rare for me to see a store that really stands out in my mind, and when I do, it’s usually because they’ve either specialized significantly (like horse gifts!) or because something about their store is incredibly unique. It might be an ice cream theme, a huge aquarium, metal roofing, or an all-black storefront, but anything that makes your store stand out (in a manner that’s consistent with the image you want) will definitely help burn your brand into the minds of your customers.
Have you ever seen a store that was incredibly unique and memorable to you? What was it like?
Topics: Brick & Mortar | No Comments »
Things I Won’t Carry
By businessbroad | June 29, 2008
Sometimes in business, knowing what you don’t want is as important as knowing what you do. For instance, I’m open to a lot of diversification in my stores, but you’ll never catch me stocking knitting needles, incontinence supplies , or udder cream. Those items might be useful to someone, but they’re just not appropriate for what I hope to achieve in my retail spaces.
When you have sales people coming in and trying to push their latest lines on you, it can be easy to lose site of your vision for the store. It’s their job to do that, you know. If you spend a little time thinking about what you don’t want to carry, though, you’ll find that it’s a lot easier to get what you DO want.
Topics: Brick & Mortar | No Comments »
Selling Medical Devices - Yay or Nay?
By businessbroad | June 24, 2008
Should you sell medical devices in your gift store? Given that the population is aging at an alarming rate, and Americans are getting less healthy by the day, it might make sense. In fact, you could go so far as to partner up with a pharmacist the way they did back in the old days. The two of you could sell medical equipment, gifts, cards, and possibly even food to provide a more well-rounded shopping experience. A store here where I live has taken this approach and does extremely well with it.
Topics: Brick & Mortar | No Comments »
Researching Products for Your Store
By businessbroad | June 24, 2008
One of the hardest parts of getting good products for your store is researching the products and finding the best items in each category. It would be nice if you could simply go to Google and get a list of best diet pills, but in most cases, it’s not going to be that easy.
You want my suggestion? Instead of wasting hours of your own time, outsource it. You can hire an Indian virtual assistant at around $5/hour, and you’ll get the work done while you work on more important things.
Have you ever outsourced? Feel free to leave your stories in the comments.
Topics: Brick & Mortar | No Comments »
Themed Gift Stores
By businessbroad | June 24, 2008
Does your gift store have a theme? Sometimes, a theme can be exactly what it takes to breathe life into a store that isn’t doing all that well. If you like horses and the outdoors, you could start pushing your store in that direction with accessories and equestrian clothing. If you enjoy cooking and baking, you could start carrying recipe books, dry mixes, and kitchen gadgets.
What do you think? Do you enjoy shopping at themed gift stores?
Topics: Brick & Mortar | No Comments »
Promotional Pens for Your Business
By businessbroad | June 11, 2008
Does your store use promotional pens or other products? Although I haven’t always been a big fan of them, I recently found myself visiting a store simply because I kept seeing their pens everywhere. Ever since then, I’ve been shopping around looking for the best pens for my own business, all the while encouraging everyone else to get their own.
What do you think? Have you used them before? Do you have a compelling reason not to?
Topics: Brick & Mortar | No Comments »
All Natural Products to Consider
By businessbroad | June 11, 2008
Interested in selling organic or all natural products? I’ve been thinking of topic lately and I’ve come up with the following potential products you could research. Feel free to add additions in the comments.
recycled home decor
bamboo products (cutting boards, etc.)
insect repellents
shampoos
household cleaners
acne treatments
organic snacks (non-perishables)
tea
Topics: Hot New Products | No Comments »
Conference Tips for Small Businesses
By businessbroad | June 11, 2008
I know a lot of small businesses skip out on valuable industry events because of the expense, but it’s important to consider how much you’re missing by not going, too. Below, I’ve compiled a few tips I’ve gotten from other small business owners who found a way to make it happen:
-Start looking for flight deals at least 4-6 months in advance. If you can’t, buy your ticket at the last minute.
-Be sure to have enough business cards up front. It’s much cheaper than getting them printed there.
-Try to eat at events. Most conferences have a plethora of events with free food.
-If you’re staying away from the conference hotel, consider renting a car. Taxis get expensive.
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