Personal Evaluation

Are you ready to take the leap and open your own store? A store's success ultimately rests on the people running it. This is the most important part of the decision whether to open a store, because if you're not honest with yourself here, your business can never succeed.

Consider the following questions carefully, and check the box if you believe the statement applies to you. When you are done, we would love to talk to you more about your answers. Just send the form at the bottom and we will respond with some ideas to help you.

  • I like people.
    With an ever-increasing focus on keeping customers happy, a retailer needs to enjoy being surrounded by people - those you work with and those you work for. Teamwork is common in most retail environments, oftentimes under fairly stressful conditions. It is essential that you and your coworkers take pleasure in serving people and remain perpetually alert about how to serve them better.
  • I am comfortable with change.
    The retail industry is characterized by constant change in the market and in customer preferences. The more attuned you are to the shifts and the more flexible you are willing to be, the more successful your retailing career will be.
  • I'm willing to commit around-the-clock.
    You may love your store, the merchandise you sell, and the niche you’ve created for yourself. But you love your family and social life too. The hours are long and require you to make significant sacrifices before substantial financial returns can be realized. It won’t be until the store is open and running smoothly and you have hired a team that is fully trained and you can empower and trust that you will be able leave the store for some relaxation.
  • I can solve problems.
    It takes a dynamic personality to convert problems into challenges and opportunities, and you’ll need to learn how to approach even the most daunting of tasks with a positive perspective. Not only do you need the charisma to sell just about anything to just about anyone, but you must be prepared for the problem-solving and data-analysis skills that marketing demands. You need to be ready to handle whatever the retail world will throw at you - on your own and with resources like Retail Concepts (yes, we know, a shameless plug!).
  • I can take action quickly.
    Do you require hours of thought before you can confidently make a decision? Do you change your mind often? In retail, you are rarely afforded the luxury of taking your time. You must be proactive and plan in advance, so you can be quick on your feet when the need arises.
  • I enjoy taking risks.
    Opening a store usually requires a large upfront financial investment, as well as your own time and other personal sacrifices just to open the doors and see if anyone wants to come in. With such a fast changing environment, you’re always at risk, and must always be on guard in order to stay ahead. Do you thrive with the pressure of risk-taking, or prefer things to be more stable and predictable?
  • I have experience.
    Have you worked in the industry before, or do you have first-hand experience of how a retail environment works? If not directly, do you have experienced people behind you that will help you fill in the gaps?

Need a little guidance?

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