Retail Consultancy
Stuart will first build an understanding of the retailer’s personal and business goals along with current trading performance before conducting a quick tour of the shops to complete his picture.
The day will then continue into an analysis and in depth download of industry secrets relating to buying and the supply chain as well as the shops key performance indicators such as sales growth, sales per square foot, profit margins and overhead spend.
By analysing your shops performance against industry standards, top performing benchmarks and the feats of similar shops, Stuart can identify and focus on those aspects of the business that are under performing.
With this knowledge, clear goals can be set on which aspects of the company can be improved, by how much and with advice from Stuart on how to set about making that difference.
The day will then move back to the shop environment with an assessment of its/their layout, shop fitting, brand image, stock choice, merchandising, personnel and the business’s relationship with the local community.
Throughout the day, Stuart will discuss and download market and industry news, the latest trends in consumer purchasing habits and will adapt the visit to suit the individual needs of the retailer.
The dual goal is to generate more profit from the status quo while targeting sales growth from which that new higher profit return is maintained. It can be quite enlightening to discover how much more profit your shops are capable of producing.
A day with Stuart is not just for those wishing to develop their business but also for those retailers with an inclination to sell or purchase other shops or to break into the supplying of products to other retailers.
Stuart can provide full planning and valuation advice as well as everything needed to enter product distribution.
The visit is designed to be a punchy, upbeat; fun and immensely informative day, just look at some of the comments from other retailers.
Outline Agenda
The exact style and approach adopted will be influenced by your needs once established in the opening de-briefing, however, outlined below is a summary of the main points. Questions are welcome throughout the consultancy and the agenda will be adapted as specific requirements become apparent.
Initial tasks
- Initial brief shop tour to gather external and internal environment (location/ambience), product and personnel data
- De-Briefing from client as per preparation list (See separate document “Useful data to begin consultancy with”.
- Discussion of the Industry today and the future
Followed by
Analysis of the businesses strategic and tactical needs including:
- Product strategy (including market news)
- Consumer strategy
- Financial (sales, profit & funding)
- Business Environment strategy
- Business Presentation, Message or Mission statement
- Business structure
- Past Business & accounting performance analysis
- Assessment of the future
Tactical
- Sales (including industry standards, e-commerce facts, home delivery etc)
- Cost of Sales (buying tactics and the inside track to margin and discount)
- Gross Profit (including industry standards)
- Margin & Shrinkage (industry comparisons, targets and the whole market structure to empower you)
- Overhead (including industry standards)
- Net Profit (including industry standards)
- Product selection and management
- Services
- Delivering excellent customer service
- Product Merchandising tactics
- Expansion
- Shopfitting
- Marketing to the local community
- Threats (Competition & The EU Directives and their commercial implications)
- Deciding on a way forward for your business
- Questions and general wrap up reviews
- An overview on the strategies and tactics of managing a successful retail store
Final tour of the site(s) and verbal summary of relevant application of tactics and strategies discussed
Subject to
- Any other business advice required
- Specific needs brought up at the meeting
