Opening a retail store is no joke.
An individual must be well aware of the fundamentals of retail industry to have an edge over others.
Keep yourself updated with the latest trends in the retail industry. Check out various fashion magazines, brochures, catalogues, newspapers for the latest developments.
Make sure there is adequate parking space near your store.
Devise strategies to make your brand popular amongst the masses.
Create the company’s website and get your visiting cards printed.
Set a budget for everything.
The products stocked in the store and their display play an important role in attracting the customers into the store. A retailer must never compromise on quality of the merchandise.
Visit few other retail outlets to get an idea about store designs and layouts.
Plan your store layout well. Make sure there is ample space inside the store for the customers to move and shop freely.
Treat your customers as kings. Advise all the store members to be courteous with the customers.
Never oversell.
Manage your inventory well.
It is your obligation to close, and provide your customer with an opportunity to make a decision.
You will know where you are with your customer's "will-invest-line" by closing throughout the presentation and gauging the responses. As customer gets closer to the "will-invest-line", you will receive more positive responses.
Think of a balance scale as representing the way your customer's mind operates - weighing need, use and value against the required investment.
Develop a sense of belief / conviction about your service or product. Conviction alone is sometimes enough to handle even a major objection.