Factors to consider when establishing a retail shop

Retail is a word that means to cut again

retail trade is the buying of goods in bulk and breaking the bulk to suit the needs of consumers

The Functions of a Retailer are to

  • break bulk
  • provide a variety of goods
  • credit to trusted customers
  • offer delivery on some goods
  • pass information to wholesalers
  • give advice to consumers
  • package goods before sale
  • provide a local supply of goods
  • display goods in retail shops
  • provide presales and after sales service

Factors to consider when establishing a retail shop

  • Capital
  • Location of the retail shop
  • The business experience of the owner
  • Goods for sale
  • Method of selling
  • Name of the shop
  • Right quantities of goods should be stocked
  • How to inform the customers about the shop

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