The Specialty Shop: How to Create Your Own Unique and Profitable Retail Business

241 Pages·2007·2.1 MB·English

by  Dorothy Finell

T h e
SPECIALTY
SHOP
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T h e
SPECIALTY
SHOP
How to Create Your Own Unique
and Profitable Retail Business
Dorothy Finell
AMERICAN MANAGEMENT ASSOCIATION
New York * Atlanta * Brussels * Chicago * Mexico City * San Francisco
Shanghai * Tokyo * Toronto * Washington,D.C.
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Thispublicationisdesignedtoprovideaccurateandauthoritative
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understandingthatthepublisherisnotengagedinrenderinglegal,
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LibraryofCongressCataloging-in-PublicationData
Finell,Dorothy.
Thespecialtyshop:howtocreateyourownuniqueandprofitableretail
business/DorothyFinell.—1sted.
p. cm.
Includesindex.
ISBN-13:978-0-8144-7442-6
ISBN-10:0-8144-7442-X
1. Retailtrade—Management. 2. Newbusinessenterprises. I. Title.
HF5429.F497 2007
658.8(cid:2)7—dc22 2006038832
(cid:2)2007DorothyFinell.
Allrightsreserved.
PrintedintheUnitedStatesofAmerica.
Thispublicationmaynotbereproduced,
storedinaretrievalsystem,
ortransmittedinwholeorinpart,
inanyformorbyanymeans,electronic,
mechanical,photocopying,recording,orotherwise,
withoutthepriorwrittenpermissionofAMACOM,
adivisionofAmericanManagementAssociation,
1601Broadway,NewYork,NY10019.
Printingnumber
10 9 8 7 6 5 4 3 2 1
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Contents
AStone-FacedCustomer xi
Introduction 1
1 Planning Your Business 5
FindingYourNiche 6
FurnishingsandApparel 10
TradeShowsandGift Fairs 11
FinancialPlanning 15
SuccessStories: 17
The Tea House, Teas & Accessories 17
Every Little Thing, Miniatures & Collectibles 20
Whittaker’s, Gifts 20
2 Ambience, De´cor, and Display 23
Ambience 23
InteriorDe´cor 25
v
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CONTENTS
EstablishingaTheme 26
ExteriorDe´cor 28
Merchandise Display 30
Vignettes 33
DisplayWindows 34
SuccessStories: 35
La Conversation, Bakery & Cafe 35
Buosi, Men’s Apparel 40
Jan de Luz, Linens & Furniture 43
Papier Maˆche´, Masks 45
3 Location, Location, Location 49
Demographics 50
What NottoLookFor 52
Carmel,California 52
SuccessStories: 56
Helia’s, Women’s Apparel 56
Candlesticks of Carmel, Candles 59
Bittner, Pens & Accoutrements 61
Cottage of Sweets, Candies 61
Nature’s Bounty by the Sea, Gems & Minerals 64
4 Creating Mini-Boutiques 65
SuccessStories: 65
Landis General Store, Mini-Boutiques & Gifts 65
Why Not, Children’s Apparel & Toys 72
KRML, Radio Station, Retail, Concert Venue 74
vi
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CONTENTS
5 Finances 77
SCOREAdvice 77
InventoryControl 81
Licenses,Trademarks, Zoning,andInsurance 82
Taxes 82
GasparCardinale:Consultant 84
SuccessStories: 89
The Carmel Hat Company, Hats 89
Henning’s, Cakes & Party Goods 92
6 Customer Service and Hiring and Training
Personnel 97
ThePrimaryPrinciplesofRetailing 98
Learningthe Ropes 99
AreYou IntheRight Business? 99
Hiring 101
Training 104
ReturnPolicies 110
SuccessStories: 113
Husk, Women’s Apparel, Arts & Crafts 113
Felloni, Fabric, Men’s Apparel 117
Coffee and The Works, Kitchenware 120
Velo Pro and Trailhead, Bicycles, Camping, Hiking 123
7 Marketing, Advertising, and Promoting 127
DefiningMarketing 127
PaidAdvertising 129
vii
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CONTENTS
Newspapers 129
Special-Interest Publications 130
Cable TV 132
Phone Books 133
Put Yourself in the Movies 133
Websites: Individual, Co-op, and E-Commerce 134
Public Relations 138
Newsletters 138
E-Mail Promotions 139
Press Releases 139
Flyers 140
Writing Feature Articles 141
Customized Logos 142
Promotions 142
In-Store Promotions 144
Theater and Other Event Advertising 144
Charity Benefits 145
Gift Wrapping 145
The Best Marketing 146
SuccessStories: 147
Scabass, Women’s Apparel 147
The Book Den, Secondhand Books 151
L’Atelier, Knitting 154
The Carmel Doll Shop, Dolls 157
Juel, Jewelry 159
8 Bringing the Community Inside 163
SuccessStories: 163
Pilgrim’s Way, Alternative Books 163
Bella and Daisy’s, Dog Bakery & Accoutrements 166
Thunderbird Bookshop, New Books & Gifts 171
viii
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CONTENTS
9 Your Grand Opening 175
Invitations 176
Displays 178
Entertainment 178
Giveaways 179
Prizes 180
Refreshments 181
GuestBook 181
Promotingthe GrandOpening 182
ABridalShopOpening 183
AShockingDisplay 184
AppendixA:TradeandGiftShows 187
AppendixB:E-CommerceSites 209
AppendixC:ResourceGuideto theSuccessStories 211
Index 217
ix
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