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.