2. Space Allocation
Show all merchandise to all customers.
High-markup and impulse items should be very visible.
Discourage shoplifting.
Experiment to stay exciting.
Locate related lines next to each other.
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3. Space Allocation
Situate related departments next to each other.
Give the most important lines the best locations in your store.
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4. Space Allocation
Positioning
Do not sell every item in a category
Choose products that enhance your reputation.
The same line of your business
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5. Preventing Retail Theft
Maintain rotating employee assignments.
Team different employees together or with you.
Initiate procedures for balancing the cash register or drawer after each
employee's shift.
Take physical inventory at least annually, more often if practical.
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6. Preventing Retail Theft
Check daily receipts against a list of items sold.
If you suspect an employee of stealing, randomly audit sales by
contacting customers to verify sale details
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7. Shoplifting
Put items that are easy to shoplift close to the checkout counter.
Use packaging that is hard to conceal.
Install mirrors and/or closed-circuit TV cameras to monitor all portions of
your store.
Post signs stating your policy of prosecuting shoplifters.
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8. Location
Adequate Parking
Public Transportation
Traffic
Compliments
Size
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9. Location
Convenience goods require easy access, allowing the customer to
quickly make a purchase. A mall would not be a good location for
convenience goods. This product type is lower priced and purchased by a
wide range of customers.
Specialty goods are more unique than most products and customers
generally won't mind traveling out of the way to purchase this type of
product. This type of store may also do well near other shopping stores.
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10. Location
A shopping store usually sells items at a higher price which are bought
infrequently by the customer. Furniture, cars and upscale clothing are
examples of goods found at a shopping store.
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11. Location
Mall Space
Downtown Area
Free Standing Locations
Home-based
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12. Location
Check Your Demographics
Look Your Competitors in the Eye
Do You Need Professional Help?
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13. Location
Cost - can you afford it? For example, is there free parking, or is it
expensive?
Safety - This is an increasingly important issue for both customers and
employees. Is there security on the premises
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14. Location
Convenience - Is it easy to find? Is parking close by? Consider your
clients. If you're dealing with pregnant mothers and the elderly, they may
have a different concept of "convenient".
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15. Location
Traffic - Retailers and restaurants love it, office workers don't.
Facility requirements - Do you have any special needs,such as high
power consumption or specialized wiring? Do you need meeting space,
but only occasionally? You might consider a shared office suite (often
called executive suites) in that case.
Zoning - Many cities have very strict zoning requirements. Make sure
your business is even allowed there before you sign the lease!
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16. Location
Prestige -Would a downtown address add credibility? Will wealthy
clients favor a business in their own neighborhood? Some places even
provide virtual offices with prestigious addresses, such as Beverly Hills,
Silicon Valley, or Manhattan.
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17. Mohanad Mohammed
Business Consultant
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