Open a New Branch in Record Time
Once you have identified an area of the country in which it is likely that your retail organization could make a good profit, the sooner you can open a new branch there the better. Rapidly changing demographics and economic conditions mean that market research is only relevant for a short period of time nowadays so the longer you wait to make your move, the less chance there may be of capitalizing on the information at your disposal. To make sure that your business is able to capitalize on the opportunities it identifies, take the points below into consideration when planning your new venture.
Seizing the day
- Make sure that your new shop will be adequately stocked from the very first day that it is open for business. Nothing will put new customers off more quickly than a half empty shop with very little available for them to buy. If you are going to hire a local removals firm to transport all the fixtures and fittings to the new branch, ask them for a quotation to take stock down there too. Although you will probably rely on a regular logistics company for restocking, your relocation experts may be a better bet for the initial run as they should be used to providing mission critical services for retailers and other commercial organization.
- Consider sourcing fittings locally and having them transported to the new branch rather than buying them from suppliers that are located near to the latest store to be opened by your firm. It is often much easier and faster for a company to deal with a centrally located supplier than to form relationships with many different suppliers across the country and as long as you can find a firm that offers a competitively priced transportation service to deliver, costs will not spiral out of control. Goods in transit insurance should be taken out for the items in question, especially if they are very valuable. Most transportation firms will be able to arrange this on your behalf if required or alternatively, you can approach insurers for quotations directly if you prefer.
Oh yeah! I almost forgot. I've been contemplating changing my website. There's I enjoy about the website http://letsroof.ca. Not certain precisely what yet wanted feedback 🙂 Comments on this would be great. Alright back to it!
- Use a mix of workers hired locally and employees from head office, at least until your new store has become firmly established. Staffing your new shop entirely with head office employees would probably be a mistake as it would take too many people away from their regular duties for too long. On the other hand, relying completely on local hires would also be a risky proposition as they will not be aware of the corporate culture of your firm and could possibly be less loyal than people who have been working at the company for a number of years already. Employees with plenty of experience of working for your firm will be able to help establish a new store more quickly and keep an eye on new recruits at the same time.
- Move fixtures, fittings and new stock down in stages rather than all at once. Although this might seem counter intuitive if speed is of the essence, breaking new stock down into separate consignments and keeping it apart from the fixtures and fittings that are being transported to the same location will enable staff at the new store to cope with the influx of goods and equipment more easily. If everything turns up at once, the resulting chaos can cause lengthy delays, which are the last thing your company will need when setting up shop in a new location.
- Hire a local real estate specialist to make sure that rental and purchase contracts are watertight. Disagreements about moving in dates and the types of activities that are allowed on the premises can cause major problems so it is well worth going over all the legal documentation with a fine tooth comb to make sure that you are not taken by surprise. A decent removals service will make it much easier to transport everything you need to the new store but if they encounter problems with truculent property managers on arrival there may be little that they can do.
By following the above advice, you should be able to speed up the process of opening a brand new retail outlet and maximize your chances of turning a profit in whatever location has been chosen.
Thanks needs to go to ClearviewGlobal who in fact gave me the concept for this post in an email they sent to me. They certainly are a very good New York based Voip installation service in the event that anybody's curious.
Posted in Business Service Post Date 10/04/2015