Thursday, June 13, 2013

5 Ways to Reduce Cost the First Few Years of Operating a Retail Business

Keeping cost low is vital for the success of any new business. Here are five ways to reduce cost those first few years.

1.   Consider bartering - Establishing some type of bartering agreements with vendors and friends who can provide goods and services during your first critical months or years of business can result in future success.

2.   Review your resources - The Chamber of Commerce, your local library or YouTube to help with planning, marketing and other information you need to open a small retail business. 

3.   Develop a communications plan for vendors and suppliers. You will benefit from partnerships with those individuals and companies that will help you keep inventory stocked from the day you open your store and beyond.

retail business - ways to cut cost
4.   Lease equipment or purchase used equipment to save money on operating costs. 

5. Use social media like Facebook, Twitter and Pinterest as a marketing tool and be seen by customers and potential customers. It is FREE!!

For help with leasing a building or questions about leasing or management contact Sharp Realty. 

Sharp Realty
400 Union Hill Drive, Suite 300
Birmingham, Al. 35209
Leasing retail locations nationwide.

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