People dream of owning a children’s resale store…full to the brim with colorful, charming, children’s clothing, toys, equipment and baby gear. Such a store predicts success, and promises to be a wonderfully endearing business.
Visualizing a revolving door of customers who have growing families, people plunge into ownership thinking all they have to do to achieve their dream of instant success, is to fill a space and open the door. “It’s easy because after all, children grow!”
Sadly, there are two reasons independently owned children’s resale business fail or seldom get beyond “hobby” earnings. One is not having enough money to market, stock, operate and dress the store, and the other is not taking the time to learn in advance, the processes of how to actually run such a business, year in and year out.
Here are a few commonly asked questions from up and running storeowners.
- When and how should I mark down?
- When should I change seasons?
- When should I give my employees a raise?
- How do I train a manager?
- How do I settle employee squabbles?
- What should I do when an employee just “stands around?”
- How do I handle a seller who is unhappy with their offer?
- How much inventory do I really need?
Doesn’t it make sense to know the answers to these questions and others, prior to opening a store? If an up and operating storeowner asks such questions, what else are they missing out on in terms of running their business?
Knowledgeable owners can avoid spending resources on sorting out employee issues and/or customer service “time eaters” which predictably end up being costly mistakes that affect the bottom line and store image. Operational uncertainty can be avoided when good practices and industry-tested applications are installed well before grand opening day.
Children’s resale is not complicated; it does however have a surprising depth of detail because it is not an automatically “easy” business, especially when traditional retail practices are applied. NextGen’s Knowledge Base, POS and Consulting Services are processes and standards specifically crafted for children’s resale, and are valuable blueprints that guide and support owners as they work to build their “dream” of a children’s resale business.