With the right actions and consistent monitoring, aside from meticulous planning, managing multiple stores can work effectively and increase the sales to match efforts and expectations
Managing multiple retail stores takes a lot of hard work, correct and timely decisions, and an unwavering dedication to fulfil the brand’s long-term goals. Opening and maintaining multiple stores is challenging, especially within a highly competitive environment. Companies would need to use the right tools, implement the best practices, and establish strategic partnerships to achieve continuous success.
To succeed at managing multiple stores, retail companies should treat each outlet individually. This way, company owners can clearly identify any potential issues as well as other additional enhancements that can be implemented.
They should also take note of possible competitors in the area to clearly assess the outlet’s advantages and what other measures need to be observed. Other factors, such as the employees, store processes, and technology implementation also need to be aligned for a specific target and business approach.
Companies also need to maintain a good balance between establishing a uniformed public image and ensuring that each store is unique and suited to the taste of the shoppers in a particular area. This can be particularly challenging for new businesses, especially those that are only starting to expand their operations. There is no cookie-cutter formula for this: growing companies need to execute thorough market research and sales analysis for each store to achieve their target balance between uniformity and uniqueness. The point is to provide customers with a sense of consistency while making them feel at home.
For instance, at our flagship store Brands For Less, all branded merchandise can be purchased at discounted prices regardless of the store location. We also implement the same standard operating procedure (SOP) and other policies for each store. On the other hand, some outlets offer more clothing options for a specific style or purpose, while others have bigger sections dedicated to products other than clothes, which makes each store unique.
Search engines also play a crucial role in the success of running multiple retail stores since they can be used by customers to seek information regarding the stores, such as the location and product collection. Therefore, it is highly recommended for stores to be listed on as many online platforms as possible. For instance, customers can search a map with all the retail store locations via Google My Business platform and determine which outlet is closest to their area.
At Brands For Less, all branded merchandise can be purchased at discounted prices regardless of the store location.
Abiding by these tips and advice are part of the reason for our success at BFL Group. Retailers that are aspiring to expand can consider the factors that we mentioned above prior to leasing additional spaces for their business.
With the right actions and consistent monitoring, aside from meticulous planning, managing multiple stores can work effectively and increase the sales to match efforts and expectations. Not only will effective management of each store keep customers happy, but it will also bring fulfillment to the team and propel the business to greater heights.
Ayman Beydoun, chief operating officer of BFL Group.
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By Ayman Beydoun
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Ensuring success of multiple retail stores
With the right actions and consistent monitoring, aside from meticulous planning, managing multiple stores can work effectively and increase the sales to match efforts and expectations
Managing multiple retail stores takes a lot of hard work, correct and timely decisions, and an unwavering dedication to fulfil the brand’s long-term goals. Opening and maintaining multiple stores is challenging, especially within a highly competitive environment. Companies would need to use the right tools, implement the best practices, and establish strategic partnerships to achieve continuous success.
To succeed at managing multiple stores, retail companies should treat each outlet individually. This way, company owners can clearly identify any potential issues as well as other additional enhancements that can be implemented.
They should also take note of possible competitors in the area to clearly assess the outlet’s advantages and what other measures need to be observed. Other factors, such as the employees, store processes, and technology implementation also need to be aligned for a specific target and business approach.
Companies also need to maintain a good balance between establishing a uniformed public image and ensuring that each store is unique and suited to the taste of the shoppers in a particular area. This can be particularly challenging for new businesses, especially those that are only starting to expand their operations. There is no cookie-cutter formula for this: growing companies need to execute thorough market research and sales analysis for each store to achieve their target balance between uniformity and uniqueness. The point is to provide customers with a sense of consistency while making them feel at home.
For instance, at our flagship store Brands For Less, all branded merchandise can be purchased at discounted prices regardless of the store location. We also implement the same standard operating procedure (SOP) and other policies for each store. On the other hand, some outlets offer more clothing options for a specific style or purpose, while others have bigger sections dedicated to products other than clothes, which makes each store unique.
Search engines also play a crucial role in the success of running multiple retail stores since they can be used by customers to seek information regarding the stores, such as the location and product collection. Therefore, it is highly recommended for stores to be listed on as many online platforms as possible. For instance, customers can search a map with all the retail store locations via Google My Business platform and determine which outlet is closest to their area.
Abiding by these tips and advice are part of the reason for our success at BFL Group. Retailers that are aspiring to expand can consider the factors that we mentioned above prior to leasing additional spaces for their business.
With the right actions and consistent monitoring, aside from meticulous planning, managing multiple stores can work effectively and increase the sales to match efforts and expectations. Not only will effective management of each store keep customers happy, but it will also bring fulfillment to the team and propel the business to greater heights.
Ayman Beydoun, chief operating officer of BFL Group.
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