Outdated Browser Detected
Our website has detected you are using an outdated browser that will prevent you from accessing certain features. An update is not required, but it is strongly recommended to improve your browsing experience.
Use the links below to upgrade to a modern browser.
Talking to a retailer in Ireland last week about how to spot a good investment opportunity, he suggested that there are three things to look for:
elderly existing owners
poor organisation of the shop
tired-looking and dirty.
The list is useful as it also serves as a warning to shop operators that the basic disciplines of a good shop need to be maintained:
Local shops are good at adapting to new opportunities but are they as good at letting go of the opportunities that have passed. Do brands that no longer sell stay on your shelves? Do you tell yourself that you are keeping this as a service to your shoppers? When you have to dust a stock-keeping unit that tells you something about its profit potential (expensive jewellery excepted!).
This article doesn't have any comments yet, be the first!
Become a Member to comment
Register to comment and get exclusive content and subscribe to the online and print versions of Retail News.