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

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

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

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

Synopsis


At some point in their lives, many people fantasize about running a shop of their own. But while many of them actually do open their own shop, only about a quarter of them will succeed. Every year, nearly two million small specialty shops open in the U. S. alone, and more than 500,000 go out of business. The Specialty Shop shows readers how they can establish a business that they are passionate about and that will also be profitable for years to come.

Dorothy Finell has traveled the world in search of fascinating, creative, and successful shops. In The Specialty Shop, she describes more than 37 of them, including bakeries, gift shops, toy stores, book shops, tea houses, clothing boutiques, and even unique shops like Papier-Mache, a mask shop in Venice, Italy and The Carmel Doll Shop in Carmel, California. Based on interviews with shop owners, Finell offers advice on everything new shopowners need to know, from pre-planning, decor and display, finance, and customer service to marketing and community relations. She also includes appendices on trade and gift shows where shop owners can find the merchandise they need. Filled with lively vignettes and beautiful photographs, The Specialty Shop will show prospective owners how to open the shop of their dreams and nurture their business into a success.

Excerpt

An estimated 85 percent of new shops close within five years. That means only 15 percent will be successful. the 85 percent of hardworking people who didn’t make it have experienced incalculable disappointment, frustration, bankruptcy, and in some cases a loss of life savings or marriages.

As I’ve walked around my own town’s shops over the years, I’ve been saddened to see how many opened and soon failed; the turnover rate is appalling. and yet, after years as a successful retailer myself, I had already predicted for myself which ones would make it and which ones would fail, simply by visiting these stores a few times. It saddened me so much, particularly because many of these shop owners were young people with a strong desire to succeed. So when my publisher suggested I write a book on the subject, it prompted me to share my many years of retail experience with others and to also include wonderful ideas, innovations, and advice from dozens of other highly successful shop owners in the U.S. and around the world—real shop owners with expert experience to share with you. Their sensitive and thoughtful advice will fire up . . .

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