As you think about your future, you may be wondering what your store is worth. When it comes time to sell, if you are realistic about value, you’re more likely to succeed. Many natural products retailers I know run into trouble because they confuse the emotional value their stores hold for them personally with the dollars-and-cents value in the eyes of the buyer.
The business world is competitive and marketing is everything. Promoting your store is crucial to drawing in consumers and developing your reputation. Advertising and marketing don’t always have to put a strain on your budget; there are cost efficient ways of promoting your store that can really make a difference in your consumer relations.
If you are like most natural products retailers, you order weekly from many wholesalers; large distributors, direct vitamin companies, and more than a few small vendors of miscellaneous brands. And as you know from experience, it is easy to blow a hole in your checkbook by overbuying. Here’s a simple rule-of-thumb to help you keep your inventory in line with your sales and your checkbook in the black.
When I was seven, my dad took up club sports-car racing. Two-seat, open-air roadsters from England, Germany and Italy began to appear in the U.S. Marques like Alfa Romeo, Austin Healey, MG, Porsche and Triumph, as well as Ford-engined AC Cobra and Chevy Corvette made the weekend trek to Lime Rock raceway in northwestern Connecticut for drivers to test their skills.
Body language is a key element in sales...and many times we don't even realize what message we're giving off! Read here to find out how to give your customers the best possible signals when they come to your store.
Are you a salesperson? Whether you own your natural products store or just work in one, if your job duty is to interact with customers, you are in sales. You may not think of yourself primarily as a salesperson—maybe you are a nutritionist—but your customer does.
For many customers, price plays a key role in determining the purchase of a product. Just as important, storeowners, like you, aim to garner higher profits and generate growth to increase the well-being of your business. But just how can you increase profit and serve your customers? Well, my friends, the answer is pricing.
Retailers usually lease their retail spaces because the cost of owning, developing and maintaining real estate is beyond the budget of most. With limited capital, most retailers rightly focus on “Job No. 1”: retailing.
As retailers, you may be known for the brands and products that are not carried in the mainstream—but you are also known as the reliable source for quality lifestyle enhancement. This means not just product education, but tips to improve quality of life, overall and every single day.