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New retail startups are sprouting up | About your profitability | Compare Monthly Retail Sales results | Owners: Up to the job?
Monday, March 1, 2021
From The Co-Founders
Patricia M. Johnson & Richard F. Outcalt
Outcalt & Johnson: Retail Strategists, LLC
Retail Turnaround Experts
Spring Has Sprung
And so has a new crop of retail startups!
Have you noticed? From the growing Shopify online businesses, to an array of pop-up shops, mobile "fashion trucks," or newly-repurposed spaces in neighborhood shopping districts,
there are many new retail operations emerging. They're actually springing up!
Plus, there are the established retailers who, having shed many legacy features, are re-imagining their place in the ("Coming soon!") post-pandemic environment.
And why not?
Shoppers are certainly eager for whatever is new and fresh
. And they are more willing than ever to adopt new ways of shopping.
We know. There are those "experts" who see all these new retail startups simply as store closings waiting to happen. They are quick to cite statistics that 20% of new businesses fail in the first year, and just over 70% are no longer alive beyond year 10.
(We do wonder how many of these "experts" have more than 10 years experience...but we digress.)
Meanwhile, back to the real world of risk-taking entrepreneurs. Some may have been one of those statistics, but are now back with a new strategy and new resolve.
These are the folks to pay attention to.
We sure are. For instance, watch how they seize upon the flexibility to modify their store hours, and everything else. They are creatively balancing their desired target market and best customers with their key staff, their locations, online capabilities, social media, appointment shopping, etc to find a new combination ("business model") that works best for them.
Those same options are available to all independent retailers.
This is the time to dream and scheme, and then invent your own new ways of doing things.
Sure, it is still very early in March. There will be blustery days, maybe even some snow in places. And certainly a lot of rain.
But, spring has sprung!
And so too has your chance to bring forth bright, exciting, innovative retail "blossoms." Go for it!
Just starting up?
You'll need profits.
Independent "small retailer?"
You'll need profits, too.
Growing, expanding retailer?
You'll surely need profits!
Everybody talks about profits. But nobody, except us, takes the mystery out of them.
The ROI does more than just talk about profits.
In fact, we show how retailers can manage and control their own profitability! All on their own.
Take a few minutes to
see for yourself
. (And it's free!) 👀
The ROI's one-of-a-kind online course -
Projecting & Controlling Profits
first explains the basics
of managing sales, margins and expenses to generate a profit,
and then delivers
the easy-to-use online tool so
every retailer can take charge of this important function for themselves.
But, you've got to see it for yourself.
(for now, but the clock is ticking.)
And it's fun!
Go ahead. Check it out.
You'll enjoy meeting some fellow retailers (and their bookkeeper.)
You might even find yourself doing your own profit plan. Be our guest! Because no matter what your stage of growth, you will need profits!
Free Access - PROFIT Know-How
Do you know a retailer (or aspiring retailer) who could benefit from this? Do the neighborly thing; share this link with them.
"How are sales?"
Trending in the right direction?
See how your stores' January sales results compare
with others in your retail sector.
Accountability Starts at the Top
A Job Description for Owners(!)
Free Access • Webinar of the Week
What is the most over-looked and under-performed job in retailing today?
According to The ROI, it is being a good Owner!
Pat Johnson and Dick Outcalt, Co-Founders of The Retail Owners Institute®, further assert that
"the greatest growth opportunity in retailing is between the ears of the Owners."
TOPICAL TUESDAYS Webinar of the Week
, they present their
insightful and innovative "job description" for Owners.
, you ask. Yes, an Owners Job Description.
This thought-provoking concept has helped a lot of retailers clarify and prioritize their responsibilities - and sleep better at night!
Go here for more details,
and take advantage of this lively and empowering how-to webinar, available only from The ROI.
ROI NEWS subscribers enjoy free access all week
FREE Access • Webinar of the Week
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