About This Chapter
Managing Small Retail Stores - Chapter Summary
This chapter discusses retail management in the context of small independent retailers. The fun and engaging lessons in this corporate training chapter can help your managers:
- Understand the steps that are needed to launch a small retail store
- Know what specialty products are
- Assess the risks and rewards for independent retailers
Each lesson covers a specific retail management concept and highlights important definitions. Each lesson comes with a self-assessment quiz so your employees can make sure they fully understand the topics they've learned. The text-based lessons can be printed out for further study and the chapter can be accessed at any time, day or night.
How It Helps
- Specializes retail management understanding: Your managers need to understand retail management concepts in a small-store context.
- Builds awareness: It's important that your managers are aware of the challenges faced by independent retail businesses and understand how to compete against larger retailers.
- Provides a roadmap: Managers can walk through the steps needed to launch a small retail store, including store location, design and setup.
After completing this chapter, employees will be able to:
- Understand independent retail businesses
- Define specialty products
- Know how to launch a small retail store
1. Independent Retailer: Definition & Overview
Independent retailers are businesses that are privately owned. They are usually thought of as single-store operations, and they can offer both high risk and high rewards.
2. Specialty Product: Definition & Overview
Most people buy at least some specialty products. In this lesson, you'll learn about specialty products and related concepts. You can also look at examples of specialty products for a clearer understanding.
3. How to Launch a Small Retail Store
There are numerous things to consider when launching a small retail business. In this lesson, we will discuss location, training, store design and layout, as well as how to compete with larger retailers.
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