Say what you will about Wal-Mart and the retailing giants. According to authors Chris Thomas and Rick Segel, of Retailing in the 21st Century, there will always be room for a solid, well-run local store or regional chain with excellent service and or an interesting market niche. Thomas and Segel show students how to be that merchant.
This book will help students understand how to start a retail business from the ground up. The authors' focus throughout the book is on being organized and purposeful and knowing every step of the way where the business is going and why. The major goals include learning to strategize, expect the best but prepare for the worst, create a positive work environment, and keep yourself and your staff motivated to find the best merchandise and offer it enthusiastically to your customers at a fair price. After reading this book, students will be prepared to be a successful retailer in the 21st century.
Chris Thomas is a professional writer from Boise, Idaho.
Rick Segel is a nationally recognized retail expert who lectures regularly to retail industry giants like McDonald's, Shell Oil, and Dunkin' Donuts.
New to Edition
The authors begin by showing students how to clearly identify their values and goals, and stress the importance of strategy in every step of the decision to open a store.
Coverage of researching brand names before using them, to ensure no one else came up with the idea first; and to legally protect your right to use it.
The authors cover the most practical steps involved in opening a business—negotiating lease agreements and designing the space, choosing a legal structure for the business, writing a business plan and setting up all internal systems for ordering, bookkeeping and personnel matters.
Several chapters on the marketing, advertising and overall promotion of a new business.
Useful tips and advice for finding and hiring good employees as well as tips for how to conduct a good interview that gives clues about the candidate’s character, motivation, and skills.
Coverage of store security, theft prevention for both customers and employees, and the insurance needed for a wide variety of mishaps and disasters.
Thorough coverage of technology in retail- the author walk a prospective merchant through the most basic processes: purchasing a computer system, designing and maintaining a website, and doing business with customers and suppliers internationally
The “How To’s” for reading and interpreting a financial report.
Features
Comprehensive, up-to-date coverage of the retail industry.
Sidebars highlight current events and special topics
Discussion questions at the end of each chapter.
Electronic Instructor's Manual, Test Bank, and PowerPoint Slides
