What is something I should know about opening a retail store?

You should consider :

The location

The consumers visiting the market in terms of purchasing power

The vendors or suppliers

The financial arrangements

The supply chain management

The contigencies preprations

Trained and untrained staff

Rest I think every one has given good answers.

CAPITAL ===== MARKET TREND OF YOUR OUTLET ==== CUSTOMER,S CLASS ON THE OUTLET ======= YOUR SPECIALITY ITEMS ====== LATEST TRENDS OF YOUR DESIGNED SEGMENT ===== UPDATE YOUR SHELFS WITH INNOVATIVE PRODUCTS IN THE SEGMENT ===================   MOST OF ALL THE CUSTOMER SERVICES / SALES STAFF ..... GOOD LUCK HASEEB

Retail is all about the service and attitude. You and your employee can set your selfs apart with the kind of of attitude you set for your selfs with your customers every day. And the kinda of services you deliver to them that will help you win any kind of competition and challenges with all your competitors around you. I have more than15 years experience in retail and have delivered exceptional results in most challenging times just by having the right attitude and energy in my stores all the times and be positive with my people no matter what they deliver to me. With positive attitude you sure can do alot more than you can expect.

I consider most important for retail business are:

 

You Should knew the meanings of Customer Services and Customer Satisfaction.

Good promotions and packages strategy and planning also help a lots in retail to attract potential buyers

Lifo and Fifo also keep eye other wise expriy date product shows bad impact for store image.

Human Resources you knew the art of management HR department as these people are key those represent you.

Customer Loyality winning tricks becuase an satisfied/happy customer will be your store brand embassidor.

Cleaniness and Comfort of buyer nice HVAC system shows a better image.

Your product range/selection should like this to entertain all segment buyers.

Marketing on time in decent ways for your Store and Promotion deals.

 

All above are esssential points.

 

Cheers and Best of Luck.