Master Mind Retail Business Development Service

With the speed at which technology is penetrating in each segment of work, it is very important that Retailers understand it and start using it to their benefit. 

We have Computer training Program exclusively designed for Retailers to make then tech savvy and stay ahead in dynamic and technology driven market.

At Mastermind Retail Business Development Services we work with the entrepreneur by understanding the problems affecting the business – be it lower number of customers walking in, increase in competition in the neighborhood, sales management, inventory, in-store display, store layout, marketing and promotion, etc.  Thereafter, a remedial strategy for each of the issues that also addresses future growth strategies is developed and submitted to the entrepreneur.

(1)    Increasing sale: Owner of the store was doing good business from existing store but wants to increase business in existing store.

We have observed that store has good customer entry but because store was situated on very busy area & store being very small was not noticed by many people passing from store.

So for us prime objective was to increase customer entry into store. We just kept one Display board outside store stating lowest price in each category for ex “Sports shoes starting from 249/- only. This 2 feet high board outside store attracted 2 to 4 new customers in store and out of it 1 or 2 customer buy something from our store and owner can see 2  to 3% rise in total sale.

(2)    Making owner free: Issue was stores has 3 to 4 staff but are not educated or groomed to sell. And the entire time owner used to sell footwear and staffs are only used for finding colour & size from stock room.

To make owner free we first realized importance of his time and convinced him to remain free from routine activity  then we ask owner to provide detail product training to their staff for 2 months & also motivate staff to sell more. After tedious months of process staffs have started making 40 to 50 % of total sale and owner gradually become free.

(3)    Reduction of dead stock: Since store was located on dusty road many white and other footwear used to get damaged & old and ultimately result into dead stock. We have educated staff & owner to regularly clean footwear with water & chemical based on the nature of product and mix those product with new verity & within a week 80% of dead stock get sold at MRP.

(4)    Business expansion: After enrolling with our service owner get motivated and opened other shop with larger & premium verity. This second shop is also performing well and doing better business then earlier one.

Based on the learning from our session owner have implemented Incentive system for their staff which has given positive result in the area of staff punctuality, Increase in sell by staff, less involvement of owner as staff are more aggressive to sell.