Sale Boosting Opportunities for Today’s Retailer

Posted by Karen Erdelac on Jul 6, 2015

Business Growth

Retail is a difficult business industry to break into. There are tons of competitors and many stores sadly end up closing their doors. To be successful, retail stores must constantly evolve to make sure that they are keeping up with the needs of their customers. Significant financial investment must be made to keep the store from becoming outdated and to offer the newest merchandise. We understand what it takes to keep your doors open and encourage you to look into alternative funding sources such as Quikstone Capital Solutions. We offer a competitive merchant cash advance which allows you to obtain fast funding in as little as a few business days. Our process is simple and the funds are paid back with your future credit and debit card sales. Get the speedy funding you need and invest into your retail store to increase your profits.

Hire Knowledgeable Help

It is impossible for one person to master everything. Help yourself and your retail store by hiring an expert to make sure that you are maximizing your profitability. Utilize an experienced business accountant to review your books and make sure that your financials are in order. Make sure that you are taking advantage of the proper tax savings and deductions/credits. In addition to positions such as Accountant and Manager, you can hire more sales staff as well. To avoid having staff who stand around with nothing to do, make sure that they are well-trained to offer add-on sales. Every customer should be shown items which are complementary to their choices to increase the opportunity for more sales.

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Improve the Look of Your Store

Are your items proudly on display within easy reach of customers or are they stacked out of reach and out of sight? Take the time to meet with a graphic designer to update your signage for displays and advertising. Make sure that your retail store is as visually appealing to customers as possible. This will increase the chances that they come in your door to spend their hard earned money. Get a professional painter for your walls, order new furniture, and invest in a quality sound system to get customers inspired to shop more.

Invest in a Quality Anti-Theft System

Loss of inventory is one of the largest downsides to owning a retail store. It is imperative to invest in a system which makes it easy for you to track your inventory levels and deter would be shoplifters and employees from stealing. In-store cameras should be on display so that everyone knows that they are being watched. Make sure that your cameras are strategically placed. If you have a high-dollar item which is constantly being stolen, position one of your cameras to keep track of that area. In retail, there is no way to prevent all theft but you can definitely dramatically decrease it.

Try New Merchandise

Have you been dreaming of adding a new designer’s line to your retail inventory? What about expanding to new merchandise offerings from designers you already offer? This can be a pretty expensive undertaking and it makes sense to approach it cautiously as you do not need inventory which is not selling well. By taking advantage of a merchant cash advance, you can afford to see if your idea boosts your sales figures. Displaying your newly updated merchandise will excite your current customers and should bring you additional business as well.

Topics: Funding Your Business, Growing Your Business, Retail, Ecommerce