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.