Customer Loyalty Programs 101

Implementing a customer loyalty program is a simple yet highly effective way for retail businesses to increase their number of returning customers. Of course, this translates into more sales and ultimately higher profits. If you shop around at some of the nation's leading retail shops, you'll probably notice that many of them have a customer loyalty program in place. Whether it's an electronics, grocery, sporting goods, apparel, pet supplies, or practically any other store, these programs offer too many benefits for retail businesses to pass up. But what exactly is a customer loyalty program? And how do you implement one in your retail business? To learn the answers to these questions and more, keep reading.

By definition, a customer loyalty program is a form of reward-based marketing that encourages customers to come back for future purchases. Rather than crossing your fingers and 'hoping' that a customer chooses your store for their future purchases over your competitor's, you can persuade them to come back with a rewards program. If a customer knows he or she will receive an incentive for shopping at your store, there's a good chance they'll choose it over your competitor's.

There are dozens of different types of customer loyalty programs out there, but the most basic is a point system attached to the customer's unique account. Each time a customer makes a purchase, they'll swipe their loyalty card to gain points. Some stores offer 1 point per dollar spent, while others offer more. As the customer builds their points, they can eventually spend them on various goods, services or coupons.

One of the nation's largest grocery stores, Kroger, has a customer loyalty system in place known as Kroger Plus. Members of the Kroger Plus program reap the benefits of lower prices along with savings on gas. When you're shopping for groceries at Kroger, you'll see a 'normal' price along with a Kroger Plus price. The savings shoppers receive for being a Kroger Plus member keeps them coming back for grocery purchases in the future.

If you're going to implement a customer loyalty program in your retail store, you should weigh the pros and cons beforehand. Launching a full-scale loyalty program costs money, time and resources. Small retail stores may not have luxury of investing their resources into programs such as this. With that said, customer loyalty programs are fairly easy and inexpensive.

Mobile Marketing Strategies For Retail Businesses

According to a study performed by Strategy Analytics, there are now over a billion smartphone users throughout the world -- and this number continues to grow with each passing month. Retail store owners can take advantage of this massive, ever-growing market by incorporating mobile advertising strategies into their portfolio. But how exactly can retail store owners promote their products through mobile devices? And what kind of return on investment can retailers expect from this type of marketing? To learn the answers to these questions and more, keep reading.

QR Code Marketing

QR codes have become one of the hottest tools in modern-day mobile marketing. These otherwise ordinary barcodes allow business owners to build a stronger online following with minimal effort. If this is your first time hearing about QR codes, let me give you a quick breakdown on how they work: QR stands for Quick Read, and that's exactly what happens. Business owners spread through QR codes on flyers, mail advertisements, cards, posters, banners, or even fast food beverage containers. When someone scans the QR code with their smartphone (all major smartphone platforms have this feature), they'll be taken to the company's website.

As a retail store owner, you can build more traffic to your website through the use of QR codes. You can launch promotional material with QR codes that link to specific in-store coupons. With the holidays upon us, you can expect plenty of users to take advantage of these coupons. QR codes are a nifty little invention that all business owners should take advantage of.

Build an App

Of course, retail store owners can also build an official smartphone app for your retail store. I know what you're thinking -- how am I supposed to build an app without any prior coding knowledge or experience? While having this type of knowledge would certainly help, there are dozens of companies out there whom specialize in mobile application development. You simply convey your objectives and they'll take care of the rest.

If you need a little inspiration on designing an app for your retail store, check out some of the other apps for the nation's leading retailers. Browsing around on the Android and Apple marketplaces will reveal plenty of store apps. While some of these are based around simple games, others are designed with news and/or coupons.

Recognizing Soccer Athletes With Trophies (And How To Display Them)

Recognition and positive reinforcement in youth soccer helps to build stronger athletes (both physically and mental) with more confidence. When players are recognized for all of the hard work and dedication they've given the sport, they'll continue to give it 110%. Whether you're a team coach or a parent of a young soccer athlete, you should consider using 3D soccer trophies as a form of recognition. As you can see in the image to the right, it's a brilliant trophy that's guaranteed to leave a lasting impression on any young player.

Youth Benefits of Learning Soccer

Soccer, or football in non-US countries, is a fun and rewarding sport that offers many benefits to young children. If you're a parent who's still on the fence about letting your child participate, check out some of the top benefits listed below:

• Encourages players to follow directions from the coach.
• Builds stronger teamwork skills (soccer is a focused around teamwork).
• It's a moderate form of cardio exercise; therefore, combating obesity and encouraging better all-around health.
• Allows children to socialize and meet other like-minded soccer-enthusiastic children.
• Gives players a sense of accomplishment after winning a game.
• Teaches players to be competitive.
• Let's face it, soccer is fun!

A child isn't going to learn the ins and outs of soccer after a single practice session. In order to learn all of the positions, rules and regulations, they'll have to fully commit to the sport. And while soccer takes lots of hard work and dedication to learn, the payoff is well worth it in the end. The dozens of positive skills and traits it promotes travels with young players throughout their life.

Why Recognize Youth Soccer Athletes

Recognizing youth soccer athletes encourages them to continue pushing themselves on the field. Even if the opposing team won the game, coaches should remain positive to keep the mood upbeat and happy. Allowing negativity to spread will only hinder youth players' progress. Thankfully, you can encourage a positive atmosphere among youth soccer players by recognizing them personalized trophies engraved with their name.

If you're a soccer coach, consider using a glass display case to show off players' trophies. Setting up a display case in the school, locker room, office, etc. is an excellent way to show your team's hard work and dedication. Some coaches may simply place their team's trophies on a shelf, but this doesn't offer the same level of protection as a glass display case.

5 Tips To Grow and Expand Your Retail Business

One of the single most common mistakes retail store owners make is allowing themselves to become complacent with their current size and revenue. Even if you're currently making a decent profit on your business, chances are there's room for improvement. By expanding your business, you can open up the doors to even greater success, which should be a top goal for all retail store owners. In this post, we're going to cover 5 key tips to help you grow and expand your retail business.

Tip #1) Take Your Business Online

If you aren't selling product online, you're leaving tons of untapped sales on the table. The fact is that a brick-and-mortar store can only sell so much product in a given location; however, offering the store's product through a website allows the business to reach customers from all over the country (or world if you don't mind shipping internationally).

Tip #2) Renovate

Expanding a retail business can be as simple as performing some renovations to the store. Lets say you run an apparel store and want to start offering swimsuits. Rather than taking some of your current inventory away, you can build an additional wing on to your store. Before you go jumping into a major renovation project, consult with the building owner along with your city's commercial planning office to find out what's allowed and what's not.

Tip #3) Open a Second Store

Of course, you can also expand your retail business by opening a second store. Once you've turned your first store into a success, you should start scouting locations for a second store. Assuming you follow the same steps as before, you can replicate the blueprint used for success in your first store. Things should be easier the second time around since you know the basic process of opening a retail store. And besides, you'll already have the professional connections in place to fill your new store with inventory.

Tip #4) Don't Stop at Two

There's no reason why you should only stop at expanding your business with two stores. When you are comfortable with your second store, move on to a third and then a fourth. Forcing your business to grow and expand is the secret to becoming a true powerhouse company in your respective niche.

Tip #5) Hire Additional Employees

A fifth tip for expanding a retail business is to hire additional employees -- lots of them. There's only so much work you can do yourself, which is where your employees come into play; they'll be able to handle smaller tasks while you focus on bigger tasks of expansion.

How To Reduce Your Store's Overhead Expenses

The single greatest expense of running a retail store is overhead. Whether your store sells apparel, electronics, sporting equipment, pet goods, groceries or any other consumer product, you can expect to spend money on overhead. It's a fundamental cost that's associated with all direct-to-consumer businesses. The good news is that you can typically reduce these costs by following some simple steps. For some helpful tips on how to reduce your store's overhead expenses, keep reading.

Technically, overhead is the term used to describe a broad range of operating expenses, some of which includes the following:

• Payroll
• Electricity
• Gas
• Water
• Telephone
• Official website
• Advertising and marketing
• Insurance
• Security system
• Accountant
• Taxes
• Travel
• Store and/or product repairs

Store Leasing

Reducing your overhead starts with choosing the right location for your store. Some retail business owners continue to pay an overpriced lease without realizing they could save thousands by moving to a new location. Sure, no one wants to spend the time and resources trying to move into a new location, but it could end up saving you tons of money in the long run.

As the very least, you should scout around for other potential locations for your retail business. Next, give the owner or property manager a call to find out how the lease costs. You can then talk to your current lessor to see if they are willing to negotiate a better deal with you. If not, then you should carefully consider the pros and cons of moving your business.

Utilities

Another area where retail business owners can oftentimes save money is with utility costs. Most city commercial districts have several different utility providers. Rather than 'hoping' that you're getting the best deal on your power, gas, water, phone and security, spend an evening calling around to the different providers to see what their current rates are. As long as you aren't locked in with a contract (which is never recommended), you should be able to switch without any problems.

Again, utility companies may be willing to negotiate lower prices to keep you as a customer. Don't be afraid to ask them if they will reduce their rates to keep your business. You might be surprised at just how many utility companies will drop their prices just so you're happy. And remember, the worst thing that can happen is the company saying no to your request.

Glass Display Cases: Rushing For The Holidays

The Holiday Season is in full effect and if your retail store isn't’t ready for Black Friday, you’re probably in a deep panic! There’s no worries however when it comes to your Glass Showcase needs. You still have time! Discountshowcases.com offers an amazingly quick turnaround time with our Quick Ship Display Cases. With 4 different locations throughout the U.S., a fast delivery is a sure thing! Visit our Ready-to-Ship category on our website to view all the options available. We offer Tower and Trophy Cases not only fast but also Cheap! Our Economy Showcases are great for displaying jewelry, collectibles and any valuable merchandise that needs to be locked away from the customers with the Holiday sticky fingers. Just because Santa knows who’s naughty and who’s nice doesn't mean your employees will!

Aside from the obvious reason to keep your valuable merchandise locked and secured, our cases also provide a completed look for your clothing boutique, jewelry store, pawn shop, and even home décor. Christmas is just a month away and our Glass Display Cabinets are the perfect gift for your loved ones who are looking to display their prized possessions, trophies and awards.

Don’t miss out on this year’s Holiday Rush, visit www.discountshowcases.com today and rush into savings!    

What Are The Job Responsibilities of a 'Key Holder?'

The 'key holder' is a job position that's frequently misunderstood in the world of retail business. Some people assume that it's nothing more than a personal with a key to the premises -- simply because of it's name. However, there's much more to this position than physically holding a key. To learn more about the job responsibilities of the key holder and whether or not they're a necessity for your business, keep reading.

Open and Close The Store

The most important responsibility of being a key holder is to open and close the store. They'll show up early to unlock the doors and prepare the store for its first wave of customers. Regular clerks, stockers and other employees typically lack the authority to open the store; therefore, the owner/manager designates someone as the 'key holder.' While there are several other responsibilities tied to being a key holder, the most significant is opening and closing the store.

There's more to opening and closing a store than most people realize. Along with the action of turning the key, this person must also deal with the alarm system. Nearly all retail businesses today have some form of alarm system to discourage theft and vandalism. When the key holder arrives in the morning to open the store, he or she must turn off the alarm using the code given by their employer. And when they get ready to lock up and leave at night, they must set the alarm.

General Duties of a Key Holder

• Unlock and lock the doors
• Make sure the lights are turned off before leaving
• Turn off the alarm when opening
• Set the alarm when closing
• Sweep and clean in the evening
• Moving and setting up product displays
• Offer assistance to other employees

Choosing a Key Holder For Your Store

So, how do you choose an employee to take on the responsibilities of being a key holder? It's important for retail store owners and managers to carefully choose the right candidate for this position. After all, you are essentially trusting them with your entire business, and this may be too much for some employees. Consider how long the employee has been with your store, their general attitude, punctuality, and enthusiasm about this new position. Offering some type of incentive like a bonus check, gift card, etc. will also encourage the key holder to perform his or her responsibilities correctly.

The Hidden Costs of Operating a Retail Jewelry Store

Operating a retail jewelry store is no easy task. In addition to knowing and identifying the different types of metals and gemstones, along with their purity, you'll also need to build strong customer relationships to keep people coming back. You can offer top-of-the-line jewelry at rock-bottom prices, but it's not going to benefit your business much unless you develop lasting professional relationships with customers. Of course, you'll also need the resources and capital necessary to keep your jewelry store business open. In this post, we're going to take a look at some of the 'hidden' costs of operating a jewelry store.

Security / Theft Prevention

One expense that many first-time jewelry store owners seem to overlook is security and theft prevention. Installing a video surveillance system, security systems, ceiling mirrors, and glass display cases in your store are all excellent techniques for reducing the chance of theft. It's not something jewelry store owners like to think about, but theft is a real possibility that can force your business into the red zone if you don't take the necessary precautions. Jewelry store owners should think of security and theft prevention as an investment that will pay off in the long run.

Insurance

Of course, insurance is another major expense in operating a retail jewelry stores. While all retail businesses need insurance to operate, it's typically more expensive in retail jewelry stores. This is due in part to the fact that a jewelry store's inventory is more valuable than a clothing or grocery store. If a fire, flood or theft were to wipe out your business, the insurance provider would compensate you for your loss.

It's recommended that jewelry store owners shop around for insurance from multiple providers. Never choose the first policy you come across, as you can likely find a better one for cheaper. Purchasing insurance for your retail jewelry store is a big decision, so take your time to find the policy that's right for you.

Inventory

Most retail jewelry store owners realize that inventory is a necessary expense with this business; however, what they may not realize is the true cost of inventory. Depending on the size of your store, and its particular niche, you may end up spending several hundred thousand or even $1 million+ on inventory alone.

If you're struggling to pay for all of the necessary expenses associated with running a retail jewelry store, don't be afraid to reach out to some banks and financial institutions in your area. There are many different types of business loans available for retail stores and entrepreneurs.

Tips To Maximize Your Retail Store's Sales This Holiday Season

With the holiday season right around the corner, retail store and business owners everywhere are left scrambling to make the necessary preparations to maximize their sales before the year ends. It's no secret that the months of November and December offer the biggest sales for retail stores. Even when the economy is in a decline, you can rest assured that shoppers will be out in full force during these pivotal months, eager to purchase holiday gifts for their friends and family members. So, how can you can maximize your retail store's sales this holiday season? Keep reading for some important tips and tricks.

Black Friday: The Busiest Shopping Day of The Year

The day after Thanksgiving, known as Black Friday, remains the country's busiest shopping day of the year. If you've ever participated in this shopping event, you're probably well aware of just how many people wake up before dawn to purchase early holiday gifts. Some stores open as early as 4 or 5 am, while others remain open 24 hours throughout Black Friday. Retail stores and businesses should take advantage of this massive shopping event by rolling out special sales and promotions. When shoppers see a deal that looks too good to pass up, they'll gladly wait in the freezing cold at 4 in the morning until your store opens.

Black Friday Tips For Retail Businesses:

• Spend additional resources on marketing your store's Black Friday sales.
• Open early and stay open late to maximize your sales on this massive shopping day.
• Hire additional employees to better manage your store.
• If applicable, push holiday gift cards on shoppers.
• Offer incentives for shoppers to open a store credit card.
• Stock up on additional product that you expect will sell well.

Know What Customers Want

Of course, the single most important tip to maximize sales this holiday season is to know what your customers want. If you run an electronics store, then perhaps you want to stock up on products like the next-gen Sony PlayStation 4, Xbox One, iPhone 5S and iPad Air. These are all 'hot' electronics that are customers are bound to scoop up. If you run a toy store, then you'll probably want to stock up on things like Nerf blaster guns, action figures, etc. The bottom line is that store owners should fully research and educate themselves on products that are expected to sell well this holiday season.

5 Reasons Why Small Businesses Should Use Social Media

The use of social media networking has exploded in popularity within the past few years. Facebook alone has an estimated 1.3 billion users, spanning across all parts of the globe. Even with this massive expansion and reach, some small business owners fail to realize the importance of social media; thus, leaving untapped customers for their competitors to nab. If you're still on the fence about using social media for your business, keep reading to learn 5 of the top benefits it has for small businesses.

Reason #1) Makes Your Business Easier For Customers To Find

One of the lesser-known benefits of social media networking for small businesses is that it helps customers find the business more easily. The old days of using a phone book are long gone. Instead, shoppers use the internet to find a store's physical address and/or phone number. Maintaining active accounts on all of the top social media networking accounts will prove an outlet for shoppers to locate this information about your business.

Reason #2) Reach New Customers

Of course, the single most notable benefit of using social media networking sites for small businesses is that it allows owners to reach out to new customers. Whether it's Facebook, Twitter, Google+, Pinterest or a combination of all the above, you're bound to attract new customers through social media.

Reason #3) Direct Contact With Customers

A third reason why small businesses should use social media networking is because it offers a medium for direct communication with their customers. If a customer has a question regarding a product or service, they can make a post on your social media account. And once you've responded to this question, other customers can refer back to this Q&A as well.

Reason #4) Shows Professionalism

Social media networking also shows a level of professionalism for small businesses. Customers are more comfortable making purchasing from small businesses that are actively engaged in social media over businesses that aren't engaged in social media. It's just one of the many techniques business owners can use to create a high level of professionalism.

Reason #5) Testimonials

Assuming your small business offers a quality product or service, you're bound to receive some positive customer testimonials by using social media. Customers will likely visit your social media accounts to make comments praising your business. This, of course, instills confidence among others potential shoppers and clients.

How To Identifying Trending Collectible and Products

If you own or manage a retail store that specializes in collectible products, you should constantly be monitoring and analyzing trends. Using this information, you can make smarter decisions on which products to push and which ones to avoid. The fact is that most collectible products trend either upwards or downwards, and it's up to you to identify their pattern. Here, we're going to reveal some simple techniques for retail store owners to identify trending collectibles and other products.

Know Your Industry

The single most important piece of advice I can offer retail store owners of collectible products is to know your industry. I'm sure this common sense to some owners, but you need to actively engage yourself within your respective niche or industry. If you sell baseball cards and sports memorabilia, then visit some of the local trade shows. This will give you a chance to view other collectors' products while gauging the value of various products. When you're browsing through some of the trade shows, pay attention to what products are hot, as these are 'trending' products that will likely perform well in your retail store.

Here are some other ways retail store owners can learn more about their industry:

• Trade magazines
• Word of mouth
• Collectors' conventions
• Blogs
• Customer feedback

Google Trends

Google Trends is an incredibly powerful and equally versatile tool for locating trending collectibles, products and keywords. Just as the name suggests, this free-to-use tool is the perfect solution for identifying trends. There are similar websites and tools available (free and paid), but Google Trends is hands down the most powerful, and it's completely free.

So, how does Google Trends work? After visiting the homepage, you'll see a list of the top trending keywords and phrases for the day (you can scroll down to view past dates). While this information alone is helpful, the real benefit of Google Trends comes from the ability to search for specific keywords. Let's say you own a retail store that specializes in vintage dolls; you simply type 'vintage dolls' into the search box at the top of the page and Google Trends will pull up data regarding that particular keyword. Among other things, it tells you when the keyword saw a peak in search volume; which regions are actively searching for it; a list of related keywords; and even a future forecast based of previous data.

How To Turn Your Coin Collecting Hobby Into a Business

Coin collecting is a fun and rewarding hobby that's shared by tens of thousands of people from all parts of the globe. If you're one of the many people whom participates in this hobby, you should consider turning it into a business. People are always eager to buy, sell and trade rare coins. And turning your hobby into a business will give you the opportunity to earn a lucrative income doing something you are passionate about. To learn more about turning your coin collecting hobby into a business, keep reading.

Know Which Coins Are Valuable

You can't expect to run a successful coin business unless you know which coins are valuable and which ones aren't. There are several publications and guides available which list prices for old coins, but unfortunately these aren't 100% accurate. You have to remember that a coin is only worth the price someone will pay for it. Does this mean you should accept all of your customers' offers? Absolutely not. But you should research current prices for the specific coin in question to determine a more accurate price. The Professional Coin Grading Service (PCGS) is an excellent resource for coin businesses and collectors. Another option is to check out coin prices on eBay.com. These two resources alone can prove extremely useful in your coin business.

Choosing a Location For Your Coin Business

Of course, you'll need to choose a suitable location for your new coin business. Launching your store in some obscure part of time will only hurt your business in the long run. When choosing a location, ask yourself -- can potential customers easily find this location? If they can't, you'll want to continue searching for a new location. Ideally, your new coin store should be located in an easy-to-find part of town that's next to a major highway or road. The more exposure your business has to passing traffic, the more customers you'll receive.

Essential Tips For Running a Coin Business:

• Use glass display cases to showcase your products in a safe and protected environment.
• Perform a grand opening event to let potential customers know about your business.
• Market your business in the newspaper, television commercials, and radio stations for additional exposure.
• Remain friendly and polite to customers.
• Offer free coin inspections to attract more customers.

Psychology Behind The 'Impulse Buy'

If you aren't taking advantage of 'impulse buys' in your retail store, you are missing out on a simple way to generate additional sales. Owners can boost their store's revenue by incorporating these products into their inventory. Keep reading to learn the psychology behind the impulse buy and how to maximize its effectiveness in your retail store.

What Is an Impulse Buy?

As the name suggests, impulse buys are triggered by customers' sudden impulses. The customer probably didn't visit your store with the intention of purchasing an impulse buy product, but nonetheless, something triggered in their brain which told them to buy it. You'll oftentimes find impulse buy products lined along the checkout lines at retail stores. When customers are waiting in line to check out, some of them will instinctively grab these items without thinking twice, generating additional sales and revenue for the store.

What Triggers and Impulse Buy?

There are several different elements known to trigger impulse buys, one of which is hunger. I think just about everyone has grabbed a candy bar, bag of chips or soft drink while they were waiting to check out. These hunger cravings instinctively send signals to your brain telling you to purchase snack items. Even if you didn't intend to purchase these snack items, your brain convinced you otherwise. Of course, this is just one of the many triggers of the impulse buy.

In addition to snacks, you'll also find as-seen-on-TV products lined along the checkout aisles. This is another type of product that's triggered through impulse buys. When customers see a product they believe will improve their lift in one way or another, a trigger clicks on which encourages them to make a purchase. Whether it's a CD holder for their car's visor, hair clips, a cup holder, or electronic key finder, these are all products which may trigger an impulse buy in consumers.

How To Maximize The Effectiveness of Impulse Buy Products

Location is key when it comes to displaying impulse buy products in a retail store. Tossing your impulse buy products into your traditional everyday products isn't going to work. Instead, you need to display them in a more visible area where customers can easily see them. Checkout aisles and endcaps are two highly popular and equally effective locations for displaying impulse buy products in retail stores.

Don't be afraid to switch out your impulse buy products if they aren't generating a positive response among consumers. Test out new products to see what works and what doesn't.

4 Common Mistakes When Opening a Retail Electronics Store

Do you enjoy the fast-paced, ever-changing industry of consumer electronics? If so, then you should consider opening your own retail electronics store. When managed correctly, retail electronics can prove to be a financially rewarding business endeavour, but you'll need to avoid making the following mistakes.

Mistake #1 - Not Selling Product Fast Enough

You can't expect to run a successful retail electronics store if you allow product to sit on the shelves for several months (or longer). As new technologies are developed, old electronics become obsolete, significantly reducing their value. If necessary, slash the prices of certain products down to clearance to help move them faster.

Mistake #2 - Lack of Variety

Consumers want to be given a variety of products to choose from; therefore, you should stock up on several different models and brands to meet the needs of shoppers. Whether it's televisions, MP3 players, stereo systems, computers, monitors or practically any other electronics, you want to offer your customers a variety of choices.

Mistake #3 - Poor Location

As with most retail stores, the location of an electronics shop is critical to its success. If your electronics shop is located in some obscure part of time that's difficult to locate, you won't have many customers coming through the door. You can expect to pay more for a shop that's located in a 'prime' commercial area, but it's a smart investment that will pay off in the form of more customers and more sales. The bottom line is that you shouldn't try to cut corners or save money by leasing a shop located in a bad area.

Mistake #4 - Not Staying Up With The Trends

Electronics come and go with trends, and it's important for store owners to stay up to date on what's hot and what's not. Turning a blind eye on the current electronics trends will only hurt your business. So, how do you know what's trending? There are several different ways to find this out, one of which is simply from browsing tech-related blogs and forums. See what products people are talking about, even if they aren't officially released yet. Using this information, you can stock up on products that are in high demand.

Another way to locate trends in consumer electronics is through word-of-mouth. Talk with your customers to see what products they are looking forward to. In addition to providing vital insight into electronics trends, this will build stronger relationships with your customers.

Important Do's and Don'ts of Opening a Retail Sports Memorabilia Shop

Opening a retail sports memorabilia shop is a fun and rewarding experience that will give you the opportunity to earn a living while doing something you love. If you're a sports fanatic who loves collecting cards, jerseys and game-used memorabilia, then you'll naturally enjoy this line of work. Unfortunately, though, far too many entrepreneurs jump into this business without a clear business plan. In this post, we're going to reveal some important do's and don'ts of opening a retail sports memorabilia shop.

Don't: Buy 'Overpay' For Memorabilia

When customers bring in their memorabilia to sell, you must refrain from paying top dollar for it. There's certainly nothing wrong with buying cards and game-used memorabilia form customers, but you have to view it as a business. In order to turn a profit, you must purchase customers' memorabilia below the price you'll sell it for. Only then will you be able to turn a profit from the transaction.

Don't: Choose The Wrong Location

One of the biggest mistakes new sports memorabilia shop owners make is choosing a poor location for their business. If you plan on having a steady flow of customers coming into your store, you must choose a shop location in a high-traffic area that's easy to find. Do your homework beforehand to determine exactly where the best location is for your new store. And if possible, consider setting up your store around the local ballpark or football stadium, as this will draw in even more customers.

Do: Show Off Your Products

One of the important do's for opening a retail sports memorabilia shop is to show off your products. Don't leave them stored in a backroom where customers are unable to see them. Instead, set up several professional-grade glass display cases. Doing so will keep your sports memorabilia safety stored behind a durable case while allowing customers to easily view them. Just remember to provide plenty of lighting on your displayed products to maximize their visibility. Some glass display cases feature built-in lights, but others will require you to use overhead lighting for illumination.

Do: Advertise!

Lastly, I can't stress enough the importance of advertising your sports memorabilia shop. You can expect a large portion of your customers to find your shop through word of mouth. However, relying strictly on word-of-mouth marketing will only hurt your business in the long run. Run ads and promotional material through mediums which target your customer demographic -- sports fans.

3 Services Every Jewelry Store Should Offer

One of the biggest mistakes new jewelry stores make is not offering services to their customers. While most of your profits come from product purchases, there's still a big market for jewelry services. And not offering these services will essentially hurt your business in the long run. To learn about the types of of services jewelry stores should offer, keep reading.

#1 - Engravings

The first service we're going to talk about are engravings. It's not uncommon for customers to request a particular name, word or phrase engraved onto their jewelry. If your store doesn't offer this service, the customer may take their business elsewhere. Engraving is a relatively simple and straightforward process that's done either through a profess known as 'etching' or with laser technology. Of course, you could purchase both a laser and etched engraving machine to offer your customers a choice between the two.

#2 - Ring Resizing

Another key service that each and every jewelry store should offer is ring resizing. Let's face it, our fingers change in size over the years. A ring that used to fit 5-10 years ago might not fit anymore. This is why jewelry shops offer resizing services. It's important to note, however, that only some metals are suitable for resizing. Gold, platinum and silver are all excellent metals that are easy to resize. Other metals like titanium are too tough for traditional resizing techniques. This is something that you'll have to master through practice and experience.

#3 - Cleaning

Of course, a cleaning service is bound to attract more customers to your jewelry store as well. Whether it's a ring, necklace, pendant, bracelet or pair of earrings, jewelery is bound to gather dust and dirt over time. Cleaning it up, however, will instantly revitalize its appearance, making it appear brand new. Cleaning jewelry is incredibly easy and requires no special tools or equipment. All you need to perform a professional cleaning is the right solution, which can you purchase through your jewelry contacts.

Offering the services listed here will attract more customers to your retail jewelry store. The fact is that a large portion of customers visit jewelry shops for the sole reason of purchasing a service. Overlooking this key aspect will only hurt your business by sending customers to competing jewelry stores. Remember, the three services you need to offer are engravings, ring resizing and cleaning.

How To Get Media Exposure For Your Small Business

Small businesses can benefit immensely from the power of media exposures. Whether you run a supermarket, convenience store or any other small retail business, you shouldn't overlook the power of media. In today's fast-paced age, more and more people use media as their primary source for locating news and information. You can take advantage of this fact by leveraging it for your small business; here's how:

Press Release

One of the easiest and arguably most effective method for gaining media exposure is to submit press releases. Basically, these are short articles about your business which news outlets pick up publish themselves. There's no guarantee that a news outlet will publish your story, but the short amount of time it takes to write and submit a press release will almost always prove to be worth your time. Some of the top press release websites include prlog.org, prweb.com and sbwire.com.

Participate In Charity Events

Another technique that's helpful for gaining media exposure is to participate in charity events. Perhaps your business can sponsor a Little League baseball team. For the small price of a donation, you'll be able to display your business's logo while helping to fund a Little League baseball team. It's a win-win situation for everyone involved. In addition, some of the local news outlets may pick up on your donation and cover your charitable contributions as well. You can even go one step further by submitting a press release highlighting the contributions made by your business.

Newspaper Advertisements

Of course, newspaper advertisements is an effective technique for generating media exposure. After all, newspapers are run by the media, so it only makes sense for businesses to use them for exposure. Pick up the phone and call around to some of the local newspaper companies in your area. There are a couple of different factors which influence the price of an ad, including the location (ads in the front cost more), size and publication date.

Radio Advertisements

Even with more and more people using satellite radio or listening to their MP3 players in the car, radio is still an incredibly effective outlet for generating media exposure for your small business. A short 30-second commercial is a small investment that will pay off when performed correctly. Identify your business's target demographic and then choose the right radio station to match. In addition to generating direct sales/leads to your business, radio advertisements will also reinforce your brand's recognition.

5 Factors That Influence Retail Consumer Spending

The primary objective for most retail store owners is to increase their revenue through more sales. Common sense should tell you that a higher number of sales translates into more revenue and ultimately more profits. But how exactly do you encourage customers to buy more of your product? First and foremost, you should familiarize yourself with the different factors that influence retail consumer spending.

#1 - Product Price

Product price is arguably the single most influential factor in a consumer's decision to make a purchase. If a consumer comes across a rock-bottom price that seems just too good to pass up, they'll likely make a purchase even if they don't need the item. You can use this to your advantage by offering exclusive sales discounts and promotions on products in your store.

#2 - Customer Service

You might be surprised to learn just how much of an effect customer service has on consumer spending. The fact is that people simply don't want to spend their hard-earned money in stores with poor or nonexistent customer service. On the other hand, you can make customers feel more comfortable making purchases in your store by going the extra mile. When a customer walks in through the door, have an employee greet them with a friendly "Hello." Also, make sure you are there to help customers find what they need while they are shopping in your store.

#3 - Economy

The nation's economic downfall has affected practically every business and industry, including retail. Consumers are more cautious of spending money in retail stores due to the nation's recent economic troubles. Although it's not quite over, the good news is that sales and confidence has picked up among consumers.

#4 - Credit

Consumers' credit standing/history is another factor that influences their purchasing decision. If the consumer is reaching his or her credit limit, they'll be less likely to purchase products from a retail store.

#5 - Marketing

A fifth and final factor that's known to influence consumers' purchasing decisions in a retail store is marketing. If the store markets their product exceptionally well, consumers will naturally be more likely to make a purchase. This is why it's important for store owners to constantly work on improving their product displays. A well designed product display will capture the consumer's attention while enticing them to make a purchase.

How To Clean Glass Without Leaving Behind Streaks

One of the most common complaints people have when cleaning windows or similar glass surfaces is the production of streaks. Even if you purchase and use some expensive glass-cleaning product, there's a chance it will still leave behind streaks. To make matters worse, these streaks are even more visible once the glass is cleaned, resulting in a messy, unfinished appearance. Whether you are cleaning glass inside your home or place of business, you should do so without creating streaks. If you are still scratching your head trying to find out how to accomplish this, keep reading.

Things To Avoid...

Did you know that cleaning glass surfaces in direct sunlight will increase the chance of streaking? This is due to the fact that moisture evaporates more quickly in the sunlight than it does in the shade. Once you spray the cleaner on the glass surface, the sunlight will likely evaporate some of the it before you are able to clean the surface. To prevent this from happening, only attempt to clean glass surfaces in a shaded area. If you are cleaning glass inside your home, office or a building, pull the curtains down over the windows to block out the sun.

Paper towels should also be avoided when cleaning glass surfaces. This may not seem like an issue, but paper towels will contribute to streaking. The reason for this is because of their lint surface which doesn't effectively dry up all of the moisture. Rather than using paper towels to clean glass, try using a microfiber cloth, a squeegee or even a wad of newspaper.

Choosing a Glass Cleaning Product

It's a common assumption that all glass cleaning products are the same. Unfortunately, most of the products you'll find available at your local grocery store or home improvement store will likely result in streaks. Rather than using a glass cleaning product, try using vinegar. Simply fill up a spray bottle with half white vinegar and half distilled water. Spray the diluted vinegar over the glass surface and immediately clean it off using either a microfiber cloth, squeegee or some newspaper.

As long as you wipe up the diluted vinegar within seconds of spraying it, this should clean the glass without leaving behind any streaks. Some people might be turned away at the smell of vinegar, but thankfully it goes away in a few minutes. Of course, the smell of vinegar is no worse than the smell of ammonia-based glass cleaner.

The Importance of Employee Recognition Programs

Whether your business is small, large or anywhere in between, you should implement an employee recognition program. Doing so will not only reduce your turnover rate, but it will also encourage workers to push themselves for excellence. Far too many businesses owners and managers overlook this fundamental principle, resulting in poor performance by their employees. This, of course, can be prevented with an employee recognition program in place.

The single most notable benefit of employee recognition programs is their show of appreciation to the hard-working individuals in your business or company. Rather than simply cutting a paycheck to your employees, you can go one step further by rewarding those who excel at their job. This show of appreciation and recognition will encourage employees to go above and beyond the call of duty. Studies have shown that employees work harder and more efficiently when they are "recognized" for everything they do.

Trophies and Awards

There are dozens of ideas for employee recognition programs, one of which is a personalized trophy or award. If an employee is able to produce X amount of sales within a fiscal quarter or given time period, then perhaps you can reward them with a personalized trophy. This is an excellent form of recognition that will serve as a sense of accomplishment to the recipient. If he or she ever needs a boost of self-confidence, they can look back at their trophy.

Of course, a personalized wall plaque is another excellent idea for recognizing employees. Unlike trophies, plaques can be flush-mounted to the wall. You can choose to either give the personalized plaque to the employee, or you can mount it on the wall where others can see it.

Other Recognition Ideas...

Cash is another form of employee recognition that many businesses use. If you are looking for a universal reward that all employees will appreciate, you can't go wrong with cold hard cash. Offering a bonus check to workers who meet a certain criteria is a great way to promote efficiency in the workplace.

Gift cards can work just well, if not better, than cash for employee recognition programs. Try creating "tiers" for your employees to strive for.  If an employee reaches one of the lower tiers with their sales, leads, promotions, etc., then you can reward them with a $50 gift card. However, if they reach a higher tier, you can reward them with a $100 or even $500 gift card.

Tips For Opening an Electronics Store

Are you thinking about opening a retail electronics store? Doing so can be both fun and financially rewarding, allowing you to earn a living while helping customers find the right electronics. Because of the unique characteristics surrounding electronics, however, running a retail store isn't always an easy task. You must educate yourself on the current trends and prices to ensure your business is profitable. With the right strategy and a little bit of work, however, you can turn your new endeavor into a success.

What's Hot?

The secret to running a successful retail electronics store is to focus on products that are currently hot. As you probably already know, electronics come and go in trends. A product that's popular now might be forgotten about in a year or two. This is why it's important to focus your store's inventory around products that are in high demand. So, how do you know whether or not a product is in high demand? There are several different tools for locating this information, but one of the most effective methods is to view products on marketplaces like Amazon and eBay. Open up these websites and sort the electronics category by popularity. This will allow you to see exactly which types of electronics products are selling right now.

Another idea for locating electronics in high demand is to browse some of the national electronics stores. They will likely keep their "hot" selling products out on display where customers can easily see them. Taking a stroll through some of your competitors' shops will give you a better understanding of which products are in demand and which ones aren't.

Buying and Selling Used Electronics

You should consider buying and selling used electronics as well as new models. Most of the national electronics stores focus solely on new products, leaving the niche wide open for smaller retail stores. Buying used electronics either online or from local customers is an excellent way to acquire more inventory, and it allows you to offer produces at rock-bottom prices.

If you intend on buying and selling used electronics, you should perform a test on them beforehand to ensure they are in working order. When a customer brings in a used product to sell, perform a quick test to make sure it works. If you are purchasing a used product online, see if it comes with a return policy; otherwise, you could end up with a dead product.

Tips To Improve Customer Satisfaction In Retail Jewelry Stores

Customer satisfaction is a key component to running a successful retail jewelry store. You can offer the best selection of high-end rings, necklaces, earrings and bracelets all at rock-bottom prices, but it's all for nothing unless your customers are 100% satisfied. Retail jewelry is a cutthroat industry that requires a focus on customer satisfaction and service. Without this element, customers will take their business elsewhere. In this post, we're going to reveal some effective tips to improve customer satisfaction in retail jewelry stores.

Offer Flexible Financing Options

Let's face, customers aren't always able or willing to shell out the full price for a diamond engagement ring or some other piece of high-end jewelry. However, you can help them out by offering flexible financing options based on their income and credit. As long as the customer is fully capable of making monthly payments, you should give them the ability to purchase the ring. It's not a bad idea to offer a 6 or even 12-month no-interest financing plan where customers have a certain amount of time to pay it off without interest. If they aren't able to meet these obligations, the customer will then be faced with interest charges.

Free Ring Sizing and Engravings

You can set your jewelry store apart from your competitors by offering free sizing and engraving services with rings purchased at your store. Instead of nickle and diming customers for services such as these, why not offer them free with the purchase of any rings in your store? This will encourage customers to purchase your products while sending the message that you care about the customer. It's a win-win scenario that benefits both parties.

Sizing and engravings take very little work and time. Even if you are unfamiliar with the process, you can outsource these services to a third party. However, it's important to only use the services of a third-party company that you know and trust.

Jewelry Sales and Promotions

Running special promotions and sales on your products will also result in higher customer satisfaction. Customers want to feel like they are getting a good deal on their purchases. So, try running sales around the holidays, weekends or special occasions. You could even offer a "back-to-school sale" for certain jewelry products in your store. Spread the word about your promotions through various outlets and marketing material so people know about it.

4 Tips For Running a Successful Sports Memorabilia Shop

Running a retail sports memorabilia shop is a lifelong dream for some. There's nothing quite like the feeling of turning a hobby into a lucrative business venture, which is why so many people are drawn to the industry. However, turning a profit from sports memorabilia trade isn't always an easy task. The baseball card market took a huge hit just over a decade ago, forcing many shops to liquid their assets before closing. The good news is that sports memorabilia is still a hot venture, but it does require a different approach to become successful.

Tip #1 - Go For The Autographs

One surefire way to get a return on your investment is to purchase autographed trading cards and game-used memorabilia. While the value of non-autographed trading cards will drastically fluctuate throughout the years, autographs typically become more valuable over time. There's a unique element of autographed sports memorabilia that's not found elsewhere. Knowing that you own a trading card of item that was personally autographed by the player creates a sense of pride and accomplishment in the collector.

It's important to note that certified autographs hold more value than non-certified autographs. Basically, this means the card or memorabilia was certified by a third-party to ensure its authenticity. It's not something shop owners like to think about, but fake autographs do occur.  Opting for certified memorabilia will help to protect your business investments.

Tip #2 - Check Prices

There's nothing wrong with purchasing sports memorabilia form collectors who enter your shop, but you should always check to the value of the item before conducting a transaction. Prices of sports memorabilia tend to fluctuate, and a card that was worth $100 a year ago might only be worth $50 now. Taking a couple minutes to check its value could potentially save you a large chunk of money.

There are several different ways to check the prices of sports memorabilia, one of which is Beckett.com. Beckett has been in the business of valuating sports cards and memorabilia for decades, so it's safe to say they know a thing or two about the industry. Another option is to check the going price on eBay. Thousands of dealers and collectors use this site on a daily basis for sports memorabilia transactions.

Tip #3 - Focus on Local Teams

A third tip that's sure to help your sports memorabilia shop is to focus on the local teams. Customers are naturally drawn to memorabilia from local teams. You can use this to your advantage by displaying a greater amount of memorabilia from them. For instance, if your shop is set up in the Atlanta, GA area, then perhaps you can display Atlanta Falcons and Atlanta Braves memorabilia.

Understanding The Ring Resizing Process

Nine out of ten times, the ring a customer tries on at a jewelry store isn't going to fit their finger. Rings must be just the right size so it can easily slide on the finger without falling off. An oversized ring will likely fall off the finger and become lost, while an undersized ring won't be able to comfortable slide on the finger. Thankfully, most jewelers offer ring sizing services. In this post, we're going to take a closer look at how ring sizing is accomplished.

Metals Suitable For Resizing

First and foremost, it's important to note that not all metals are suitable for resizing. Gold (white and yellow), platinum and silver are all perfectly fine; however, some of the tougher metals like titanium, stainless steel and tungsten are far more difficult to resize. This doesn't necessary mean that it can't be done, but only jewelers with the skill and confidence in resizing tough metals will offer this service.

Rings with precious gemstones may also increase the difficulty of resizing. If the gemstones are exposed to excessive heat, which is common in resizing, they may crack and break open. To avoid such a disaster, jewelers tend to avoid resizing rings featuring gemstones.

How Rings Are Resized

There are several different techniques used by jewelers to resize a ring, but the most common involves heating the ring to shape it accordingly. The jeweler first heats a weaker strand of metal at the bottom of the ring known as the shank. After removing the shank, the ring is placed around a form to hold its shape. The jeweler then uses a soldering iron or similar device to heat the metal so it's easier to work with. If the ring size is increasing, the jeweler will expand it out while adding additional metal into the band. If the ring size is decreasing, however, the jeweler will simply remove some of the metal.

Sizing a ring up typically costs more than downsizing due to the increased materials required. Because the jeweler is forced to add more metal, the cost of sizing a ring up is increased. The exact amount will depend on the type of metal, labor and prices set by the jeweler.

Once the metal is appropriately sized, metal is added back to the shank and the ring is closed. Most jewelers will clean and shine the newly resized ring before handing it over to the customer.

The Importance of Lighting In a Retail Jewerly Store

Lighting is a critical element that's necessary to run a successful jewelry store. Without the right lighting, customers won't be able to fully see each and every detail in the jewelry you offer. As a result of this poor visibility, you'll end up making less sales. The bottom line is that jewelry stores must have appropriate lighting so customers can easily see their inventory. To learn more about the importance of lighting in a retail jewelry store and ways to improve it, keep reading.

The most obvious benefit of lighting in a jewelry store is that it makes the product easier for customers to see. Jewelry is typically small in size, making it difficult to see. Details such as engravings, diamond accents, platinum coating, etc. may go unnoticed in stores with poor lighting. If customers aren't able to identify the incredible details on your store's jewelry, they will be less likely to make a purchase. This is why it's important to maintain adequate lighting throughout your store at all times.

Being that jewelry is typically made from precious metals such as gold, silver and platinum, strong lighting will create a shimmering effect as it hits the surface. The shiny, sparkling appearance of jewelry encourages customers to make a purchase. Customers associate a strong shimmer with high quality; therefore, creating more shine and shimmer in your jewelry will send the impression that it's made well.

There are several different ways for owners to improve their store's lighting. First and foremost, check the overhead fixtures to ensure they are emitting ample lighting. If the fixtures are small, broken or simply not emitting enough light, you may want to replace them with a better model. Choose fixtures with multiple bulbs for optimal lighting ability. In addition to overhead fixtures, you can install floor and table lamps for even more lighting. As long as they are used in the right areas, these supplemental forms of lighting are perfect for a jewelry store.

Also, you should consider using display cases with lights installed. These cases have bulbs built into the tops and sides which shine line directly down onto the jewelry. It's a highly effective way to provide more illumination and ultimately visibility to your product. Replacing your old glass display cases with new models featuring lights is a smart investment that's sure to pay off in the long run.

Customer Service Tips For Jewelry Store Owners

The retail jewelry industry is built around strong customer relationships. By maintaining a strong customer-oriented business, you'll naturally encourage visitors to keep coming back. Instead of making just a single sale off a customer, your store will likely generate several more in the future. Overlooking this critical fact could essentially spell disaster for your jewelry business. To learn more about ways to improve customer service in the retail jewelry industry, keep reading.

Tip #1 - Smile

Ever walk into a store only to see the owner or attendant glaring you down? You probably don't feel like spending your money in a store such as this. Try to get into the habit of maintaining a smile at all times while you are working. I know this difficult to do, especially when you are having a bad day, but you must put on your best face; otherwise, customers will get the wrong impression about your jewelry store business. Maintaining a smile will essentially set the mood for your store, encouraging customers to keep an upbeat, happy attitude as well.

Tip #2 - Train Your Staff

Let's face it, all it takes to send a retail business spiraling downwards is one wrong employee.  When you aren't there to watch over the jewelry store, you need employees who are knowledgeable not only with the inventory, but with customer service as well. Train your employees the key fundamentals of good customer service, such as maintaining a smile, greeting customers with a "hello" and "goodbye," staying friendly, etc. The additional time it takes to train your staff the elements of good customer service will prove to be well worth it in the long run.

Tip #3 - Return Policy

One of the worst mistakes you can make when running a retail jewelry store is having a "ALL SALES FINAL" policy. The truth is that no store owners enjoys doing returns, but it's necessary to keep customers happy. Turning your customers away when they accidentally purchased the wrong type of ring or necklace will only put a bad taste in their mouth in regards to your store. As a result, it's doubtful they will come back to shop at your store again. If you want customers to keep coming back for all of their future jewelry purchases, you must allow returns. Whether it's 7, 14 or 30 days, you must have some sort of return policy in place.

3 Ways Local Businesses Benefit From Having an Online Presence

It's a common mistake for retail store owners to neglect launching a website. Since they rely on local sales rather than online transactions, some owners believe there's no real benefit in having an online presence. The truth, however, is that a website for your retail store could offer several different benefits. To learn more about how local businesses can benefit from having an online presence, keep reading.

#1 - Increased Brand Exposure

The first benefit we're going to talk about here is increased brand exposure. By having a website up and running for your retail business, more people will inevitably see the brand name. This is a huge benefit that gives your store more authority in its respective industry. Whether your store sells electronics, jewelry, antiques, groceries or practically anything else, you want people to know and recognize its name. The only way you are going to be able to accomplish this is through brand exposure. Launching a website for your retail store is a small step in the right direction towards increasing your brand's exposure.

#2 - Customers Can Find You More Easily

Another benefit of having an online presence is the simple fact that it makes it easier for customers to locate your store. Let's face it, the days of scanning through hundreds of pages in the phone book are long gone. In today's fast-paced world, people use the internet to find addresses and phone numbers of businesses. Typing a business's name into Google will instantly yield relevant results containing this information. If your store doesn't have an online presence, however, potential customers won't be able to find you using this technique. This is why it's important for each and every retail business to take the time to set up a website.

#3 - Social Media Networking

A third benefit comes from the power of social media networking. Once you've launched a website for your retail business, customers and clients will likely begin to share it on their social media accounts; thus, offering even more brand exposure and customers. Social media sites like Facebook, Twitter, Pinterest and Instagram have become increasingly popular. You can use this to your advantage by setting up social media accounts on all of these sites. All of the major social media networking sites are completely free, so don't worry about the cost. After setting up your accounts, spread the word to customers and clients so they'll connect and share your information with others.

What You Should Know About Opening a Smoke Shop

Are you thinking about opening a smoke shop in the near future? Although tobacco use has declined in the past few years, smoke shops are still thriving in terms of business and profits. Opening one in a strategic location could prove to be a smart, financially rewarding business venture that leads you on the path to success. Of course, there are some things you need to know before jumping into this unique industry.

What Are Smoke Shops?

If this is your first time hearing about smoke shops, let me explain what they are -- basically, they are shops that sell cigarettes, cigars, chewing tobacco, cigarette rolling papers, smoking pipes and a variety of other smoking-related accessories. While anyone can run down to the nearest gas station to pick up a pack of cigarettes, it's doubtful they will find smoking pipes and other accessories, and this is where smoke shops come into play. These stores are catered specifically for smokers by showcasing a variety of pipes and products.

Choosing a Location For Your Smoke Shop

Just like practically any other retail store, location can either make or break your smoke shop business. Far too many new store owners try to save money on lease and utilities by choosing a location that's far away from main roads and highways. Although you can initially save some money on your lease this way, you'll lose far too much business to make it worth the savings. A better approach is to choose a location for your smoke shop that's around the "smoking" demographic. Don't be afraid to drive around various locations to scout out how many people are smoking. You can look at statistics and number data all you want, but sometimes there's nothing that compares to actually seeing the area for yourself.

Business License

In order to legally run a smoke shop, you'll need to acquire all of the necessary licenses and permits for the respective location. This varies from city to city, so check with the local zoning and planning office to determine what's required. Some areas may only require a traditional business license, while others may require a special permit for selling tobacco products. Running a smoke shop without the necessary licenses and permits places you at risk for fines and/or getting shut down. To prevent this from happening, get all of your ducks in order beforehand to ensure you are legally abiding by all federal and local laws.

How To Run a Successful Retail Electronics Store

Are you thinking about opening up your own electronics store? Doing so can be a highly rewarding business venture that allows you to meet new people and work with your hands. The fact is that electronics are constantly in demand, so you can rest assured knowing customers will eagerly purchase your products. Of course, you'll need to follow some basic tips in order for your new retail electronic store to truly succeed.

Competition is one of the biggest hurdles of opening a retail electronics store. No matter where you intend on opening your store, there are likely competing stores already in place. In order for your store to succeed, you must set yourself apart from your competitors with a certain edge. For instance, offering money-back guarantees on all of your products is one type of edge that's sure to draw in some customers. Another edge is to simply offer lower prices than your competitors. Customers want to know they are getting a good deal, and selling your products at low prices creates this feeling.

The secret to running a successful retail electronics store is to move your product as fast as possible. Because of their ever-changing world of technology, most electronics products go obsolete after a given amount of time. As the end draws near for an electronics product, its value continues to decrease. As a retail store owner, it's your responsibility to move product fast enough so that it doesn't become obsolete. If you have product that's been sitting on your store's shelves for months on tend, then perhaps you should run a sales or promotion to help sell it faster.

It's also important to have strong connections in place with electronics suppliers and manufacturers. You'll find that relationships such as these are critical to the overall success of a retail electronics store. As you become more comfortable talking with suppliers, don't be afraid to negotiate for lower prices. Typically, manufacturers and suppliers will offer you lower prices if you are willing to purchase bulk quantities. The more units you purchase, the lower the price per unit. I know it's probably difficult to initially invest in a large supply of electronics, especially when you first open your store, but later down the road you should be able to.

Hopefully, these tips will set you on the right path to running a successful retail electronics store. Just remember to continuously move your product, watch the prices, and give yourself and edge over competing stores in the area.

Tips on Purchasing Items For an Antique Store

Owning a retail antique store can be a fun and financially rewarding business venture. While other business rely on "trends" that come and go, people are always eager to purchase unique antique items; therefore, it's considered a long-lasting business that's able to withstand the trying times of economic market woes. Of course, you'll need to understand some fundamentals of buying product for an antique store if you wish to succeed.

How Much Space Does It Take Up?

Before you start buying up every antique item you come across in hopes of reselling it for a profit, consider how much space it takes up. Like all retail establishments, antique stores have a finite amount of space. Filling your store with huge antiques like cars, car parts, furniture, bicycles, etc. could negatively hurt your business. So, does this mean you should avoid all large antique items? Of course not, but you should be aware of how much demand there is for it. Big antique items are perfectly fine in a retail store as long as you can sell them in a short period of time.

Depending on how many large antique items you have, it might be a good idea to rent a storage unit to hold some of them. Customers won't be able to physically see the items in person, but you can still tell them about it. With that said, you should try to get out of the habit of purchasing a high number of large antique items.

Original Condition Items

Ideally, you should only purchase antique items for your retail store that are in their original condition. Some people make the all-too-common mistake of having their antique items refinished or reconditioned in hopes of achieving a more attractive appearance. Unfortunately, this typically results in a lower value, so much in fact that it's usually not even worth purchasing. Try to avoid purchasing antiques that have been altered and stick with original items instead. If you are unsure on whether or not an antique item has been reconditioned, avoid purchasing it just to be on the side side.

Accurate Valuations

Properly pricing antiques is an art form that comes from years of experiencing and knowledge. When buying items for an antique store, you must have a general idea as to how much they are worth. You obviously don't want to purchase them for more money than you'll be able to sell them, so try to come up with a price that will offer you a profit margin. Remember, it costs money to hold and display products in your antique store.

How To Show Off Your Trophy or Award

Have you recently received a trophy or award for athletic accomplishments, academic skills, work ethics or community service participation? These are things you should be extremely proud of accomplishing. Recognition awards such as these are a reminder that hard work pays off in the end. If you continue to put forth your best effort and strive for excellence in your daily activities, you might receive a reward for it. Here we'll take a look at some of the different ways to display a trophy or award in your bedroom.

Plaque vs Sculpture

Most awards are broken down into one of two categories -- plaques or sculptures. Plaques are typically made of authentic hardwood, such as maple or oak, with a finished plaque surface over the front. If you recently received a plaque award, the best way to display it would be to hang it on your bedroom wall. Plaques are made with a flat back, and you'll usually find a small notch that's able to hook into the back of a screw or nail.

So, where exactly should you hang your plaque award? This is really entirely up to you, as some people hang them over the bed, while others hang them on an open wall. If you have multiple plaque awards, or if you plan on receiving more awards in the future, it's a good idea to hang your plaque in a location that's able to accommodate more than one.

Sculptures, on the other hand, will require a bit more thinking and planning ahead to display. The image shown above is just one example of what a typical sculpture award looks like. As you can see, there's no way to hang these on your bedroom wall since they are 3-dimensional without a flat back. The good news is that you can still successfully show off your sculpture award. All it takes it a little creative thinking.

One way to show off a sculpture award in your bedroom is to simply place it on a shelf. If you have shelves built into the walls, try placing the sculpture award here. Whenever someone enters your room, chances are they will immediately take notice of your award, and that's exactly what you should try to accomplish. Another option is to invest in a glass case to show off your sculpture awards. Not only will is display your awards, but it will also protect them from dust, dirt and damage.

Jewelry Store Laser-Engraving vs Etched-Engraving

If you run or are thinking of running a jewelry store, you should offer a free engraving service to your customers. Once you've learned the process, it should only take you a couple minutes from start to finish. By giving out free jewelry engravings to paying customers, you'll naturally draw more people into your store; thus, resulting in greater sales and greater profits. Here, we'll take a closer look at laser vs etched-engraving and reveal which one comes out on top as the winner.

Etched-Engraving

In the past, nearly all jewelry engraving was done using this method. As the name suggests, it involves "etching" the words, letters, numbers or phrases into a piece of jewelry. Most jewelry stores who participate in etched-engraving use a large diamond-tipped needle that's hooked up to a machine to create engraving. The needle essentially digs out a small portion of the jewelry, leaving behind a clean etched design. Etched-engraving is incredibly cheap, effective and fast. The only real downside to this method is that you'll have to frequently replace the diamond-tipped needle in order for it to work properly. If the diamond begins to wear down, it may not produce a smooth engraving.

Laser-Engraving

On the other side of the fence is laser-engraving. Instead of using a diamond-tipped needle like etched-engraving, it's done with a laser device. The device sends a concentrated beam of high-heat energy directly the ring or jewelry's surface. By using a computer program, the jeweler can tell the laser where to engrave.

One of the differences that you'll notice is that laser-engraving doesn't leave an indention behind like etched-engraving. Instead of digging into the surface of the jewelry, it creates the engraving by using high heat, essentially burning it. This is why most pieces of laser-engraved jewelry have dark engravings that are more prominent than etched-engraved jewelry.

Hopefully, this will give you a better understanding on the two different types of jewelry engravings. While the end result for both methods is quite similar, there are some notable differences that shouldn't be overlooked. For starters, etched-engraving creates a small groove in the jewelry, while laser-engraving burns the surface. I recommend offering both of these engraving techniques to customers, as some people prefer laser and others prefer etching. Be sure to discuss the different methods with your customers ahead of time so they are fully aware of what the engraving will look like.