RETAIL SHOP BUSINESS IDEA

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as they always say that it’s better you

treat someone how to fish than giving

him the fish to eat

so today we decided to venture on retail

shop since it’s a field that personally

have entered in

and have personal experience when i talk

retail shop i don’t mean a supermarket

or a big

wholesale or mall shop i’m in retail

shop like the one you see above me here

this is my own the one that i’m running

there has been a bad perception or

others believing that to start a retail

shop you need a huge amount of

capital this is not true

for you to realize growth in your retail

shop you have to start with a minimal

amount of cash

on the first thing first when you want

to open a retail shop the first thing to

consider is the location

in most cases it is good to open a

retail shop in a residential area

somewhere when

someone leaves the house just walk a

short distance and buy something from

the shop

people that go to the retail shop mostly

are people who are indoors

or when they forget to buy something

from the supermarket in town they can

come

to your place and get it since it’s the

nearest place

the second thing to consider in retail

show

is the security you must consider that

the place where you’re going to start

your retail shop is it somewhere that

when you open your shop you’ll be

able to leave your things there and

sleep comfortably knowing that they are

safe

talking on the location in most cases

i prefer that a retail shop should be

somewhere

at a junction where most people will

pass by or most people meet or where

they

road connect people going to the

perceptions that people have

most people perceive that you need to

have a large amount of capital to start

up a retail shop

but i disqualified this that it is not

true

for you to see the growth in your shop

you have to start with minimal amount

and also the reason why you need to

start with minimal amount of cash is

because

every location has its own need when you

are setting up your show you still

doesn’t know the need of the area you

are going to

put your shop according start minimal

and increase your stock according to

people’s demand

another reason for starting with minimal

amount of capital is that when you start

with a minimal amount of capital you get

to see the growth in your shop

you will get to see if your shop is

growing or

declining within a short period of time

when you start with a huge amount of

it will take you time to know whether

you are making a loss or whether

your shop is growing for example what i

did was to start with ten thousand

this ten thousand i use this to buy

basic thing what the things that

things that you believe that people have

to use around and the important things

after you buy those things as you will

be selling because you’ll be selling

collectively

the money you get that day you use it to

purchase another product and stock up

each day as you selling on collect i

mean each day as you will be selling

collectively

you use that cash and get another

product that you don’t have

the good thing is that once you set a

good footing with the suppliers

there are suppliers that can give you

products you sell and they pay cash

later

so this one also in advantage is an

advantage to retail shop

you can pick things from suppliers and

then pay them later after you sell

and this one also shows that you need to

have a good relationship with your

suppliers

the best way to keep track of your

business growth

since it is hard for many people to have

a bookkeeping record or it’s hard to

keep records in a shop

due to counting small things like sweets

it’s very difficult and you cannot do

that one daily to

know how much you’ve sold the best thing

that

the best thing is that every evening

after sales

take 20 percent of your sales and put in

savings

the rest restock use in restocking the

shop

every day do this and you’ll realize

whether your shop is growing or not

since yours your stock since your stock

in the shop will be adding

and your saving also will be increasing

also to stay safe in your shop minimize

credit

there are people who normally take

advantage of the shops

so when you have to give someone credit

put a limit to

i believe with this small insight you

are now able to set up your show

or retail shop and keep the

running

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