What is the best way to forecast retail sales in a brick and mortar if there are no similiar businesses in the area?
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$2 Answers
Then think about ways to do less than a full retail storefront costs. Pop-up stores for a holiday period can be negotiated for very short term lease if you have a local shopping center or downtown area with vacant spaces, which would let you test the waters. Cellphones can take credit cards nowadays, and cheap brick and lumber shelves might work for your startup store just as they did for university housing in your younger years. Paint is cheap. Senior citizens can be more reliable than young kids, and might work for profit shares instead of a minimum wage...
In other words, be entrepreneurial, partner up with as many vendors and customer sources as possible, and spend as little as possible, while keeping creative and content control.
Hope this helps,
Bill Price
William A. Price
Attorney at Law
www.growthlaw.com
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
On the other hand if you are having difficulty forecasting retail sales, as you earlier said, then it would be best to utilize other available information at your disposal. One of the sites I suggest you take a good look is the information provided by the Financial Forecast Center, wherein an updated U.S. Retail Sales Forecast is available. In addition, similar resources are also listed such as U.S. Retail & Food Services Sales Historical Data and other useful consumer forecast.
Sources:
http://www.forecasts.org/sales.htm
http://www.entrepreneur.com/article/77674
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
