COURSE OVERVIEW:

A retail business is more than simply buying products or services from a manufacturer or wholesaler and selling them to consumers. It’s a dynamic industry that spans diverse sectors, including food, clothing, electronics, home décor, and more. For aspiring retail business owners, the industry offers vast opportunities but also comes with significant challenges. Retail is highly competitive, and launching a successful business in this sector requires a strategic approach and careful planning to stand out in a crowded marketplace.

Owning a retail business allows you to be part of an industry that shapes lifestyles, fuels local economies, and caters directly to consumers' evolving needs. Many dream of becoming successful small business owners, envisioning the freedom, independence, and satisfaction that come with building something of their own. However, while the dream is achievable, it demands dedication, insight, and practical know-how to navigate the complex landscape of modern retail. This course, designed for aspiring retail entrepreneurs, goes beyond the basics of setting up a business. It helps you assess whether retailing aligns with your strengths, skills, and goals and provides you with actionable steps to launch and grow a retail business.

Starting a new retail business is an exciting but complex journey, requiring a clear understanding of the market, financial planning, and operational strategies. One of the most critical steps in this process is conducting thorough market research to identify your target audience, competitors, and demand trends. Knowing your ideal customers allows you to tailor your product offerings, store experience, and marketing efforts to meet their needs effectively. In addition, understanding your competition helps you carve out a unique value proposition, ensuring your business stands out.

In today’s retail landscape, a strong digital presence is as essential as a physical storefront. Consumers increasingly turn to online platforms for convenience, price comparison, and brand discovery, making e-commerce and digital marketing key to a new retail business. From designing an appealing, user-friendly website to implementing targeted social media campaigns, leveraging technology can help you reach a wider audience and build brand awareness.

This course examines the pros and cons of retailing, provides steps to identify your customer, and introduces best practices in digital integration. By exploring everything from start-up costs to supplier relationships and customer service essentials, this course equips you with the knowledge and tools to transform your dream into a concrete business plan. With the right strategies and an informed approach, you can establish a thriving retail business that reflects your passion, connects with your community, and achieves lasting success.

LEARNING OUTCOMES:

By the end of this course, you will be able to understand:

·       The importance of retailing

·       The importance of a convenient place and location

·       How the lifestyle of the people are shaped by retailing?

·       How retail businesses contribute to the economy?

·       How retailing offers scope for expansion in other countries?

·       How retailers rule the channel of distribution?

·       How retailers provide services to the manufacturer?

·       How to get focus on your dream?

·       How to squeeze your dreams into a signature line?

·       How to discover what’s important to you using the skilful fifty?

·       How to recognise effective signature lines?

·       How to create your own signature line/ slogan?

·       How to recognise the customer types?

·       How to identify your ideal customers?

·       How to “sense” your customers?

·       How to “filter” your customers?

·       How to figure out what motivates your customers to buy?

·       How to motivate wow buyers?

·       The ten ways to lose a customer

·       How to motivate convenience buyers?

·       How to motivate expert buyers?

·       How to motivate caring buyers?

·       How to stay in tune with your customers?

·       How to start a retail business?

·       Retail business start-up costs

·       Store location and rent

·       Store utilities and insurance 

·       Inventory and merchandising equipment

·       Employee costs

·       Technology and marketing

·       How to fund your retail business?

·       Business registration and licenses

·       Finding a retail location

·       Do you need a brick-and-mortar location?

·       How will your customers find you?

·       Who is your competition in that location?

·       How much space do you need?

·       How to select and manage retail suppliers?

·       How to take payments at your retail store?

COURSE DURATION:

The typical duration of this course is approximately 2-3 hours to complete. Your enrolment is Valid for 12 Months. Start anytime and study at your own pace.

COURSE REQUIREMENTS:

You must have access to a computer or any mobile device with Adobe Acrobat Reader (free PDF Viewer) installed, to complete this course.

COURSE DELIVERY:

Purchase and download course content.

ASSESSMENT:

A simple 10-question true or false quiz with Unlimited Submission Attempts.

CERTIFICATION:

Upon course completion, you will receive a customised digital “Certificate of Completion”.