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Profit Depends on How To Invest In Time

INVEST IN THE STORE (SMALL BUSINESS, LARGE BENEFITS)

Profit Depends on How To Invest In Time

The problem of choosing a business investment solution is a very difficult issue. Specifically, any type of opening must be based on the ability of the employer, the environment and the market to decide. Before conducting business, it is necessary to have a market survey, if not investigated, it cannot say anything. Before deciding on which type of business to open, you need to investigate and predict the target market (After opening the store, do customers come to buy or not?).

UP TO THE PLAN OF OPENING THE STORE

Determine which type of store is easy to make money

The demographic situation of the area, the density of the neighborhood, the ability and consumption habits as well as the number of shops of the same type of area. If there are many shops in that area, how will their business become, what happens in the future if competition occurs? If you can understand thoroughly, then doing business will become extremely favorable because the business is of primary importance to understand customers. When the store is officially opened, it is still necessary to have a connection with the situation itself. Whether I have a real knowledge of business, or I have the qualities to suit my business, do I have to think carefully, especially those who first open a small shop, everything comes to hand, do everything yourself.

Three major factors affect store positioning

First Location: The store location attracts visitors regardless of the location of good, bad, convenient traffic conditions, the arrangement of surrounding architectural works, population density in the area, the income level of the target customers, conceptions and consumer tastes, ... The positions located at the corner, the fork in the road are often appreciated. In contrast, the locations are located on the down slope, the hidden corner or on the floor. The location of the store is very important, so note: one is the environment surrounding the store. There are locations that are very bad surroundings to open stores. For example, there is an open shop near the public toilet, not far away is a landfill, the smell of sewage and dirt always rises, or nearby there is a chemical factory with an unpleasant odor. Two is the level of prosperity of the store location. Normally speaking, the best shop should be opened near the car dock, commercial area, high density residential area, or many shops of the same type concentrated on a street. Such a store opening position certainly has a lot of advantages.

Traffic conditions: Is it convenient for customers to stop transporting goods or catching vehicles from other places? Favorable traffic conditions have a significant impact on the store's revenue.

The surrounding buildings: There are shops that open right on the road, but there are barriers on both sides of the road, which will negatively affect the business. Therefore, when choosing the store face to the street, pay special attention to this point. How to choose? Street streets have two typical types: one with both the lane and the pedestrian and pedestrian lanes, which is easy to attract visitors to the shops. This type of street opening is quite good. But the width of the road should not exceed 30m, the wide road may be counterproductive. According to the survey, it is easy to attract the most visitors. Another typical type of street is that the lanes and pedestrian lanes are completely separated, in fact, this type of traffic causes many obstacles, choosing this type of street is not very good.

The population density is often said, multiplying the surrounding area as much as possible. Recently in many medium and large cities often form different areas. For example, commercial areas, resorts, university campuses. For each region, attention should be paid to the following issues:

The income level of the target customers: in the concentration areas of rich people opening a jewelry store or high fashion will be the stop, watching for the target customers with high income. The luxurious villas in the suburbs or small areas of high level are places where many rich people are concentrated.

There are many factors affecting the location of the store opening, the factors that also want to be in shape. Why are there small shops opening in quite remote places, but the year-round business is very prosperous, while there are big shops opened in crowded areas where the business is very low. settled. This story corresponds to a philosophy: "Specific situation, specific analysis". The concept of good and bad position is always relative nothing. Good business does not only depend on the store's location but also has a close relationship with business content, business methods, service spirit, and brand image.

b. Second: type of store, packaging, display, decoration, is the price of the product attractive?

c. Third: store area, advertising and service spirit all have direct impacts on the store's revenue.

These three aspects are closely related, when you choose a store opening position, you need to carefully consider the above factors, think about issues, plan and clear strategies, so that you have opened is to succeed.

What is a "golden position"? Open a business shop, everyone knows the prime location is extremely important, choosing the right position is that you have established a sustainable business. On the contrary, although you may be a good entrepreneur, the results are still hopeful. Here are some locations to open stores according to the general concept as well.

* The neighborhood has a bustling trade or a neighborhood with a strong brand. In these places, it is really small, and it is very difficult to find such places. Even if you have the conditions to open goods in such a place, but because the rent is very high, you need to calculate after deducting the required cost, the remaining profit is how much. If the remaining profit is not much and you are determined to do it, then you are too risky. If you feel allowed, you should not be excluded because the rent is too expensive.

Sometimes large investments, high profits go hand in hand. The actual price of renting a storefront in a good position is not the same as it may be on a day or two, it is not arbitrary but it can be raised, it is formed during negotiations between the landlord and the tenant in one long time. It can be seen that the good place, although "narrow, yellow", but usually the money you earn not only exceeds the amount of money to rent a house but also a lot of money later. Therefore, spend a large amount of money to open a big shop by finding a good place. Naturally, the high rent will increase the investment cost, while also increasing the pressure and risks in the business. You need to carefully consider your business investment and personal experience, finally deciding whether or not to open this "prime" store.

* Bus stop, a large number of passersby: Customers in these places often have the characteristics of the number of people getting on and off, traveling very large, their consumers are usually small and easy to carry goods. or local specialties in these areas, you should open a daily food store or store, tourist souvenirs. Moreover, in the locations of large bus stations, convenient traffic junctions, business has become prosperous, growing and gradually becoming a regional trade center, attracting visitors at that time. Not only visitors but also local visitors, frequent patrons.

* Residential area has a high population density: The number of people is an advantage to create different types of stores. Because, where the population is densely populated, the demand is very diversified. If you can keep the prestige with customers, pay attention to the quality of goods and service, the business and money will always stability.

* Street series, market focused on one type of trade This has become popular, many places have markets famous for a commodity. For example: street auto parts, technical equipment street, leather street, electric street, production materials city. .. Competitive argument for these cases seems somewhat contradictory. Why do the shops look at each other like the "enemy" that does not disperse and focus on one street, but is the business still busy? The answer lies in the words "Man". Buyers to buy good and cheap goods, simple motto is: "Choose three to buy one". And aiming at this psychology, every row of brilliant signposts with bustling atmosphere has gradually formed, which at the beginning might be from government encouragement, from the support of business associations. , can also naturally form from traditional habits. And without a doubt, a specialized item is the choice of small and medium-sized stores.

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