The purpose of this Guide is to provide strategic building blocks to help you build a successful retail store - faster, easier, and more economically. This Guide is a series of practical business texts with built in tutorials and contacts to assist you in quickly producing and executing a plan of action. It will give you an indication of how long it may take to establish your business, how much it may cost, and processes involved.
With this Guide, you have all the tools you will need to effectively build your business, from start to finish. In this Guide, you will find four major sections: industry overview, business planning, store planning, and running your store. We've tried to demonstrate that starting a company is a process, and is a fairly simple one once you know the rules and strategies. Order today!
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| TABLE OF CONTENTS |
| INDUSTRY OVERVIEW |
| RETAIL INDUSTRY SALES |
| TOP RETAILERS - 2006 |
| CONSUMER TRENDS |
| THE FUTURE OF SMALL RETAILING |
| BUSINESS PLANNING |
| LEGAL FORMS AND FINANCIAL |
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| Business Structures |
| Business Structures | | 14 |
| Sole Proprietorship | | 14 |
| Partnership | | 15 |
| Corporation | | 17 |
| Cost Outline | | 18 |
| Business Certificates and Permits | | 24 |
| Sales Tax Resale Certificates | | 26 |
| Employer Identification Numbers (EIN) | | 28 |
| Planning for Cash Needs and Maintaining Cash Flow | | 32 |
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| BANKING AND LOANS | | 35 |
| Financial Plans | | 35 |
| SBA Loans | | 37 |
| Other Loans | | 46 |
| Advantage Business Credit loan features | | 46 |
| Financial Services | | 47 |
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| BASIC BUSINESS TOOLS | | 51 |
| Checking Accounts, Online Accounts | | 51 |
| Business Cards and Letterheads | | 51 |
| Establishing Credit | | 53 |
| Credit Bureaus | | 55 |
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| STORE PLANNING | | 56 |
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| CHOOSE A STORE TYPE | | 56 |
| Your own store or buying an existing | | 56 |
| Franchises | | 57 |
| Business Opportunities | | 59 |
| Network Marketing Systems | | 59 |
| Existing Independent Businesses | | 59 |
| Is there need? | | 60 |
| The Competition | | 60 |
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| CHOOSE A LOCATION | | 61 |
| Where and who are your customers? | | 61 |
| Store Location Options | | 61 |
| Mall Space | | 61 |
| Shopping Center | | 62 |
| Free Standing Location | | 62 |
| Office Building | | 62 |
| Downtown Area | | 62 |
| Home-Based | | 62 |
| Goods To Be Sold | | 63 |
| Kind of Store/Type of Goods | | 63 |
| Specialty Store (Boutique) | | 63 |
| Shopping Store | | 63 |
| Convenience | | 63 |
| The Area | | 63 |
| Estimating Your Rent Costs | | 65 |
| Understanding Commercial Leases | | 65 |
| Negotiating Your Lease | | 67 |
| Commercial Lease Example | | 68 |
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| CONSIGNMENT SHOPS | | 76 |
| How do they work? | | 76 |
| Consignment Agreements/Contracts | | 76 |
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| DECOR AND DISPLAY | | 79 |
| Window Displays | | 79 |
| Fixtures | | 80 |
| Lighting | | 81 |
| Tips for Good Visual Display | | 82 |
| Effective Visual Merchandising: Important Elements | | 82 |
| Types of Store Layouts | | 83 |
| Tags | | 84 |
| Signs | | 84 |
| Decor and Display Resources | | 86 |
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| PURCHASING | | 112 |
| Who are your customers? | | 112 |
| Pricing Structures | | 112 |
| Buying Merchandise Wholesale | | 114 |
| Choosing Products to Sell: What to Look For At Trade Shows | | 116 |
| Trade Shows | | 117 |
| Trade Shows - Listings | | 120 |
| How To Order From Designers and Manufacturers | | 167 |
| Filling Out Purchase Orders | | 168 |
| Selling Seasons | | 171 |
| Reorders | | 173 |
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| THE BACK ROOM | | 173 |
| Pricing | | 173 |
| Markdowns | | 174 |
| Retail Math Formulas | | 175 |
| Inventory | | 176 |
| 6-Month OTB Plan | | 177 |
| Receiving Merchandise | | 178 |
| Cash Management Systems | | 178 |
| Cash Register | | 179 |
| POS System | | 179 |
| How To Balance a Cash Register | | 179 |
| Daily Sales Report | | 180 |
| Tracking Retail Sales and the StoreÍs Performance | | 181 |
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| HUMAN RESOURCES | | 182 |
| Organizational Structure/ñChain of Commandî | | 182 |
| Recruiting, Selecting, and Hiring | | 183 |
| Job Description | | 184 |
| Employment Application | | 186 |
| Conducting Interviews | | 192 |
| Interviewing Script | | 193 |
| Checking on References | | 197 |
| Employee Management | | 199 |
| Training Employees | | 202 |
| Payroll Mistakes | | 204 |
| Group Payroll Record | | 205 |
| The Basics of Benefits | | 207 |
| Scheduling Employees | | 209 |
| Daily Time Sheet | | 210 |
| Establishing Company Policies | | 212 |
| Sexual Harassment Policies | | 213 |
| Workplace Discrimination Policies | | 214 |
| Firing Employees | | 215 |
| Progressive Discipline Warning Form | | 216 |
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| RUNNING YOUR STORE | | 219 |
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| FINANCIAL RECORD-KEEPING | | 219 |
| Cash or Accrual | | 219 |
| Petty Cash | | 220 |
| Record Keeping | | 221 |
| Expense Reports | | 222 |
| Bank Reconciliation Form | | 224 |
| Daily Cash Sheet | | 226 |
| Record Keeping Tips | | 228 |
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| TAXES | | 229 |
| Income Taxes | | 229 |
| Schedule C | | 232 |
| EmployerÍs Quarterly Federal Tax Return (Form 941) | | 235 |
| State Income Taxes | | 240 |
| State Payroll Taxes | | 240 |
| Sales Tax | | 240 |
| Deductions | | 240 |
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| PROMOTIONS | | 243 |
| Advertising | | 243 |
| The Marketing Plan | | 243 |
| Advertising Mediums | | 244 |
| Running Your Own Advertising Campaign | | 245 |
| Press Releases and Media Kits | | 247 |
| Elements of a Press Release | | 248 |
| Writing A Cover Letter | | 251 |
| The Media Kit | | 252 |
| Assembling a Media Kit | | 253 |
| Delivering the Media Kit | | 254 |
| Public Relations Resources | | 255 |
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| CUSTOMER RELATIONS AND SERVICE | | 275 |
| Customer Service Statistics | | 275 |
| Tips for Good Customer Service | | 275 |
| Keeping Your Store Organized | | 276 |
| Store Ambiance | | 278 |
| Store Hours | | 279 |
| Setting Store Policies | | 280 |
| Pricing | | 280 |
| Payment Type Accepted | | 280 |
| Returns and Exchanges | | 280 |
| Layaway | | 281 |
| Special Orders | | 281 |
| Miscellaneous | | 281 |
| Layaway Record and Merchandise Return Form | | 281 |
| Shoplifting Policies | | 284 |
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| SELLING | | 284 |
| Knowing Your Product | | 284 |
| Selling Tips | | 285 |
| Tips to Increase Sales | | 286 |
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| YOUR RETAIL STORE | | 287 |
| Setting Goals | | 287 |
| Trade Publications | | 288 |
| Trade Associations | | 289 |
| Infomat Online Tools To Help | | 293 |
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