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Should You Open A Retail Outlet?
The document discusses different types of women-owned businesses including home-based businesses, direct sales, online businesses, and retail outlets. It then provides more details on categories of retail outlets such as independent shops in shoplots, residential areas, or commercial buildings, as well as shops in shopping malls. The document goes on to outline sharing from several women business owners, including one who owns an independent retail outlet and previously owned a kiosk, and one who is a Subway franchisee in a shopping mall. It closes by discussing pros and cons of retail outlets.
Should You Open A Retail Outlet?
- 1. Today’s Topic 28 September 2012 WomenBizSense Networking women in business
- 2. Business Type • SOHO – Home Base Business • Direct Sales – MLM, Insurance • Online Business • Retail Outlets WomenBizSense Networking women in business
- 3. Retail Outlet Category • Independent Retail ~ Shoplot ~ ResidenGal Area ~ Commercial Building • Shopping Mall Retail WomenBizSense Networking women in business
- 4. Today’s Sharing • JeaneJe – Online Business • Lisa – Independent Outlet @ ResidenGal Area • Josephine – Independent Outlet @ High Traffic Commercial Area • Lee Min – Independent Outlet that previously owned a kiosk in Gurney Plaza • Rita – Subway Franchisee @ First Avenue WomenBizSense Networking women in business
- 5. Rita’s Sharing ~ First thing – Mall’s T&C ~ Strictly abide to Mall’s operaGon Gme ~ If you need to open earlier, need to get permission and strictly not allowed to close early ~Open for 365 days only allow 3 – 5 days closing per year upon permission approved ~ Mall’s rental much higher than independent retail outlet ~ Min fee set for a mall’s rental or % base on the sales ~ More exposure and promoGon = CROWD ~ If she is given another choice, what is her decision? WomenBizSense Networking women in business
- 6. Pros & Cons Pros : ~ Retail outlet will able to have high exposure and walk-‐in customers ~ Customers able to try out the products & services, able to give consultaGon and recommendaGon ~ Have more opportunity for business expansion and strategic alliance with reputable partners ~ PotenGal to go franchise or licensing ~ Increase customer’s confidence ~ The retail business must be unique compare to compeGtor WomenBizSense Networking women in business
- 7. Pros & Cons Cons : ~ High expenses such as rental, wages & etc ~ If located at low traffic area, will be limited to surrounded area ~ Have to do promoGon to drive crowd to the retail outlet ~ Opening an outlet will need a huge capital & strong cash flow ~ Difficult to hire staff WomenBizSense Networking women in business
- 8. The End WomenBizSense Networking women in business