Answers provides the B (Basics), C (Comprehensive), D (Details) service options.
Basics provides generalized overview of your operation with pluses and minuses.
Comprehensive is an examination of your business inside out that includes the…
Details. These are individual or multiple facets of any retail operation focused on operation, product, presentation, space, sales data, and e-commerce.
The Basics are fundamentals of running a retail operation. Given the size and scale of your business you’ll be provided an overview of what works for you. Included in our consideration of the basics are: your mission , products offered, and a generalized snapshot of your size and scale relative to your venue. A summary of recommendations will address what you are doing right and will offer opportunities for future success that will steer your enterprise on a proper course.
All of the details involved in your retail store are provided in this package. This soup-to-nuts review includes your operation, products, store presentation, retail space, analysis of sales data, and e-commerce potential.
These services can deal with individualized aspects of your business. If you need particular attention to an area of your retail operation, we meet your needs with several areas of specialization. Let us know which of the fundamentals below requires your attention. MRA provides Answers that get specific and detailed in catering to your concern.
The mechanics for running a successful operation include budget, policy and procedure, staffing, security, point-of-sale, daily routine, customer service, and sales. Each of these aspects contribute to running your business efficiently with necessary controls. Your accountability in an optimal operation fosters future prosperity.
The products offered in your store are pivotal to achieving your goals. Merchandise selection reflects your venue and determines how the visitor views the commitment and pride in your institution. MRA will examine your product mix, relevance, pricing, sourcing, and development and will provide answers for future profitability.
The placement of products, store themes, relation to the collection, visual appeal of your offering, with props and effects to highlight items contribute to a look and feel that helps convert a visitor to a customer. Techniques that highlight and flatter your merchandise are intangibles that can make or break a sale. There are inexpensive touches and visual techniques that will turn a visit to your store from an afterthought to a destination for all guests.
Maximizing your available selling space can serve to increase sales. The fixtures used and their placement within your store affect the visitors ease in getting to your products. The amount of backroom/stockroom space compared to floor space can dictate the functional efficiency of your operation. Designing your space to meet present and future business is important for profitable retailers. Better use of space need not involve great cost, just smart use of existing resources.
Museum retailers need to get a handle on the numbers that run their business. Profit margin, price, average dollar per transaction and per square foot are key metrics in improving your bottom line. Knowing how your operation stacks up against your peers will challenge you to optimize sales potential. Data you can provide translate mere figures into a call for action.
The untapped potential of your retail business may lie in your ability to reach an untold online audience. Your web offering can mean new-found income. The degree to which you are able to promote your brick and mortar store and/or offer products online is a function of size and resources. Internet sales can mean significant growth. MRA will cover the mechanics of internet retail and the upsides and downsides of going online.