Retail Business Plan Template

Retail Business Plan Template-30
Retail goods can also be categorized into durable goods and non – durable goods.Durable goods are goods such electronics, computers and accessories, furniture, and other large appliances et al and non – durable goods are good such as food, toiletries, drinks, beauty products, jewelry, clothing and shoes et al.

Retail goods can also be categorized into durable goods and non – durable goods.

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For example, it is common to see items with prices in this format; $3.99, $99 and $199 et al as against $4, $100 and $200.

Retailers also engage in massive clearance sales and discount sales to attract customers.

That makes it easier for loads of entrepreneur who are interested in the business to come into the industry at any time they desire; the entry barriers are quite affordable and any serious minded entrepreneur can comfortably raise the start – up capital without collecting loans from the bank.

The demographic and psychographic composition of the retailing business cuts across people of all ages and cultures, tribes and political affiliations, races and religions et al.In recent time, the retail landscape has seen tremendous changes in the last 20 years; it has grown from the usual mom and pop outlets to a more organized and far reaching venture.The introduction of franchise and online store makes it easier for a retailer to reach out to a larger market far beyond the areas where his physical store is located.Retailing business has been in existence for as long as human started trading goods, but one thing is certain, the retailing industry is still evolving.The introduction of technology and subsequently online retail store has indeed helped in reshaping the industry.In other words, despite the fact that there is competition in the retailing business, entrepreneurs who are into retailing of products are still smiling to the bank.This is so because retailers are always coming up with creative ways on how to sell their products and continue to make profits from the business.Over and above, the retail industry is a profitable industry and arguably the biggest industry in the world.It is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner like the average mom and pop business or you can chose to start on a large scale with several outlets in key cities.Another common trend in the retailing industry is the pricing system.Aside from having varieties of products in a store, one of the easiest ways for retail stores to sell the goods on their racks as fast as they can and keep re – stocking is to ensure that the prices of their goods are a bit lower than what is obtainable in elsewhere.


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