Articles Index
SCORE - Free Business Counseling
SCORE -Counselors to America's Small Business- is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small businesses nationwide. As a resource of the Small Business Association, there are no costs involved when consulting with a SCORE member.
Business Structures: Sole Proprietorship
A sole proprietor is an individual who owns an unincorporated business. Learn more about this business structure, including the advantages and disadvantages of starting a retail business as a sole proprietor.
Business Structures: Partnership
A partnership is a business relationship between two or more persons. Each person in this business structure contributes labor, capitol and shares in both the profits and losses of the business. Learn more about this business structure, including the advantages and disadvantages of starting a retail business as a partnership.
Business Structures: Limited Liability Corporation (LLC)
A Limited Liability Company (LLC) is a business structure chartered by the state in which it is headquartered. This type of business ownership combines several features of corporation and partnership structures. Learn more about the advantages and disadvantages of operating an LLC.
Business Structures: Corporation
A corporation is chartered by the state where it is headquartered and is considered by law to be a unique entity that can be taxed, it can be sued, and it can enter into contractual agreements. Learn more about this business structure and the advantages or disadvantages of creating a corporation.
U.S. Consumer Product Safety Commission
What is the Consumer Product Safety Commission and how does this government agency relate to my retail business? How to find information on product recalls with CPSC.
Store Supply List
What retail store supplies does your business need? View this list of store supply items needed in each area of your brick and mortar retail store.
Network Marketing
Network marketing is one of the several types of retail business. Understand each type of retail business, the advantages and disadvantages of each to learn what style of business is right for you.
Catalog and Mail Order Sales- Retailing Storefront Alternatives
Retailers searching for storefront alternatives may consider catalog sales and mail order. Learn more about using direct mail efforts such as catalog sales as an alternative to leasing a retail storefront.
Selling Online - Retailing Storefront Alternatives
Retailers searching for storefront alternatives may consider selling online only as a means to make sales without having much overhead. Learn more about using the Internet as an alternative to leasing a storefront.
Drop Shipping - Retailing Storefront Alternatives
Retailers searching for storefront alternatives may consider using a drop ship source as a means to make sales without having to store inventory. Learn more about using drop shippers as an alternative to leasing a storefront.
Mall or Retail Kiosk - Retailing Storefront Alternatives
Retailers looking for a temporary solution, and storefront alternative, may find the high traffic and excitement of selling from mall or retail kiosks enticing.
Festivals and Craft Fairs - Retailing Storefront Alternatives
Retailers looking for a part-time solution, and storefront alternative, may find the low overhead and convenience of selling at festivals and craft fairs enticing.
Merchandise Return Form
Download this sample merchandise refund and return form for your retail store.
Products and Services
This part of the business plan is most important to retailers developing a business. The Products and Services section describe the goods and services offered, how they are provided, information about the vendors, and any plans for future growth of the product lines.
Marketing Strategy
The marketing strategy should explain how your retail business will penetrate your target market. Detail the company's desired image and branding strategy. Give an overview of the company's pricing strategies, current and potential marketing partnerships and provide documented research to back your plan.
Executive Summary
An Executive Summary is critical to the success of the business plan. The Executive Summary offers synopsis of the business plan, and highlights the key points raised within. Here is where you need to capture the reader's attention so that he/she will be compelled to read on.
Business Analysis
Another section of the business plan is the Business Analysis. From the business structure, legal name, location and goods or services offered to an analysis of your customers and competition, the business analysis will describe the nature of your retail business. Use easy-to-read, common terminology. Never assume that those reading your business plan have the same level of technical knowledge that you do.
Management Plan
In the management section, the information will show that the retail business has the necessary human resources to be successful. It will answer questions about the key management personnel and their background, explain how the store will be staffed and detail all personnel compensation and benefits, including employment policies and procedures.
Financial Plan
One of the more difficult sections of the business plan, the Financial Plan will involve the company's revenue and profitability model. The Financial Plan assesses the amount of capital the retail business needs, as well as the proposed use of these funds and the expected future earnings. It includes Break-even Analysis, Sales Forecasts, Balance Sheets and Cash Flow Statements broken down monthly for the first year and then annually for the next 2-5 years.
Franchise
Becoming a franchisee is one of the several types of retail business. Understand each type of retail business, the advantages and disadvantages of each to learn what style of business is right for you.
Retail Buyer Profile
A retail buyer selects merchandise and develops product assortments to grow the business and increase market share. Learn more about the key responsibilities, summary of experience, education and salary compensation for retail district managers.
Visual Merchandiser Profile
The function of the visual merchandiser is to create an inviting, visually appealing environment for the customer's shopping pleasure. Learn more about the key responsibilities, summary of experience, education and salary compensation for visual merchandisers.
Assistant Store Manager
The function of the assistant store manager is to oversee the overall daily operations of a retail store. Learn more about the key responsibilities, summary of experience, education and salary compensation for retail assistant store managers.
District Manager Profile
The function of the district manager is to oversee the overall operation of retail stores within an assigned territory or district. Learn more about the key responsibilities, summary of experience, education and salary compensation for retail district managers.