For small business owners it can be difficult to research and find ways to increase revenue.  In this article we’ve compiled some resources to help your specialty retail store compete and flourish.  Click on the headings to learn more about each topic.

2017 Specialty Retail Trends

Owners of specialty retail stores are keenly aware of the rapid changes taking place within their industry.  Retailers are faced with the challenge of incorporating new ideas and technology while remaining authentic.  Carving out a niche in this industry is largely dependent upon providing a great product and offering a unique customer experience.  While technology is becoming central to the retail industry as a whole, there are some advantages small businesses have over their larger competitors.  With the ability to adapt and change rapidly, small businesses fit a quick changing industry perfectly.

Incorporating Ecommerce Into Your Specialty Retail Shop

In today’s business world it can be tough to succeed with only a brick and mortar location.  With so many retail purchases now being made online it’s become necessary for small businesses to expand into Ecommerce.  Ecommerce can dramatically increase your product reach, it also provides a significant return on investment.  Since you won’t need to pay a sales person to assist someone with their purchase and don’t need to have the lights on at your establishment to make that sale your profit margins can be considerable.  It’s become extremely easy to incorporate Ecommerce into a business, however, there are many steps you’ll need to take to ensure it’s a successful venture for your specialty retail shop.

Expanding and Upgrading your Specialty Retail Business

With the demand for unique and specialized inventory, the specialty retail industry is taking off across the country.  Filling a need for niche markets in all different industries, specialty retail caters to a diverse contingent of consumers.  While your business model and product line may be unique, there are business principles and ways to improve that can be implemented throughout the industry, regardless of your focus.  Even if you currently have a loyal following, it’s important that you do not become complacent.  There are many ways you can improve and continue to grow your business.

Increasing The Profitability Of Your Retail Space

Owners of specialty retail stores pay a lot of money for the space they operate in and it’s important that they get the most out of it.  Many stores are only open a small portion of the day and after closing time their earning ability ends.  There are also establishments that have access to a wide variety of consumers but are only taking advantage of a small niche market.  As a small business you likely have built strong relationships with your customers and many of them have something more to offer than a few daily purchases.  As the owner of a company you have no doubt built upon experiences and expertise that you posses in your field and that can be used for more than marketing and product development.  The integrity and vision of your business should never be compromised, but there are several ways you can supplement your income and maximize profitability of your space.

Growth Opportunities for Specialty Retail

To achieve long-term success, specialty retailers have to utilize innovation and creativity when encouraging customers to purchase from their stores over the “big box” retailers. It takes a targeted and successful marketing campaign to convey your brand message and create a loyal customer base. You want people to think of your company first as providing the best quality and service for the product that they seek. It is easy for vendors who sell a wide array of different types of merchandise to attract customers with the allure of convenience. However, it is not easy to specialize when you have so many product lines in your offering. Customers do recognize this difference and will often times pay a higher price to visit a specialty store.

Merchant Cash Advances for Specialty Retail Stores

A retail cash advance from Quikstone Capital Solutions can help your specialty store respond to market shifts, grow and profit. We've helped hundreds of specialty retail stores including:

• Ethnic Markets
• Healthfood Stores
• Book Stores
• High End Green Markets
• Produce Stands
• Hobby Stores
• Hardware Stores
• Pool stores
• And many more

Quikstone Capital Solutions has been providing small business owners with merchant cash advances to stabilize and improve their companies for more than 10 years.  If you are in need of a cash to cover unexpected costs, or if you’re looking to make long overdue improvements, a merchant cash advance could be right for you.  With the ability to quickly qualify and get your money in a timely fashion, there is no more convenient option.