In a tough market struggle, a new store is, first of all, an operating marketing scheme, and only then - the hassle associated with solving organizational issues. Therefore, before embarking on active actions, it is worth considering all the strategic points in the work of a future outlet more than once, and only after making sure that the conclusions are made correctly, start investing.
Instructions
Step 1
Conduct a demographic study of the area (microdistrict) of the city in which you intend to open a retail outlet. Try to answer the question whether there is a stable demand among its population for the group of goods that will be presented in your store. If the demand is obvious, then also evaluate the purchasing power of the population: if its representatives have a desire, will they also have the opportunity to buy your goods.
Step 2
Assess the level of competition in the existing industry in your chosen territory. Study the points of potential competitors in detail, visit these stores yourself, try to see the strengths and weaknesses. In some cases, the presence of strong competitors, especially outlets belonging to large retail chains, may mean for you the complete impossibility of doing business in this place, so you need to assess your capabilities soberly.
Step 3
Take an interest in rental rates or real estate prices in the area where you are going to open a point of sale, depending on whether you intend to rent or acquire the premises. It is also worth making inquiries about the prevailing relationship between entrepreneurs and local government officials, and whether it will not be a problem for you to get the green light here from officials. An entrepreneur who is not familiar with the local order may encounter such "pitfalls" that he had no idea about before.
Step 4
Try to "test the waters" on the other hand - whether your activity will not cause criticism among the ordinary population, especially those living in the immediate vicinity of the future store (in the same house or neighboring houses). It happens that frequent complaints from people force the entrepreneur to withdraw from one place and look for a new one, so it is better to think about the reaction of the population and the means of increasing its loyalty in advance. Only after such a comprehensive marketing and sociological research, proceed to specific actions on the equipment of your store, the chances of success of which will significantly increase after thorough information preparation.
