RE: Building My Retail Empire In 2025.

Interesting !

I think the situation in each country will create a different environment and challenges for retail around the world. But my experience is that there are a few things which will be true wherever you are.

My first thoughts are;

• Before buying stock, have you looked at what your competitors are selling those items for, and if you can make enough margin on them (allowing for wastage for products with expiry dates, in-store damage etc) ?
• Have you looked at stock turn ? There's no point filling the shelves with items that won't sell !
• Rather than filling the shop with stock before building a customer base, just put in what you know will sell; you can always move some shelves to hide an area that hasn't got stock yet, or (if local regulations allow) take out some shelves entirely and put a small coffee shop or cafe in the space.
• Debt is a killer for retail business margins. All your profit could go on paying the interest. If you need finance, the first place to start is by negotiating payment terms with your suppliers. In a perfect world, if you've got the right amount of the right stock at the right price, you'll sell it before you even need to pay your supplier ! Then, paying your supplier early might allow you to negotiate discounts or better margins.

Good luck ! Retail can be a hard path, but if you are determined, resilient and plan well you can do it !

!BBH

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