How to Make Profit in Retail

Rated 5.00/5 based on 7 reviews
Between 2007 and 2013 twenty-four thousand four hundred and sixty-five medium and large size retailers went bust.

Have you ever wondered why so many retail stores continue to close down?

Why are so many recognised retail brands going into administration?

The answer to these and other questions are in How To Make Profit In Retail. More

Available ebook formats: epub

About Romeo Richards

I am the founder of The Business Education Center, an entrepreneur and business training firm that provides business growth information to professional entrepreneurs such as medical doctors, lawyers, accountants, consultants, coaches, retail executives, dentists, corporate trainers and private security entrepreneurs.

The Business Education Center, is the business intelligence hub for professional businesses such as businesses consulting firms, business development firms, dental practice, private medical practices, law firms, accounting firms, businesses coaching firms, corporate training firms, private security firms and retail organisations.

The Business Education Center aims to offer access to valuable business development information to entrepreneur professionals: medical doctors, lawyers, accountants, consultants, business coaches, dentist, retail executive, private security firm owners and corporate trainers through the creation of information products such as books, eBooks, audio books, DVDs, home study courses, workshops and seminars.

I conceived The Business Education Center after undergoing a traumatic business failure and recovering through the help of valuable business development information.

In late 2004, I established my private security firm. By 2006, my revenue had grown to a million dollars and I was able to count the likes of Nike, BskyB, BMW, Renault, BT and Target Express amongst my clients.

However, in 2008 when the financial crisis hit, my business went into a tailspin. Like most entrepreneurs, I blamed the financial crisis for the failure of my business. But the reality is, I was in a recession proof business.

When there is financial crisis, the rate of crime increases simultaneously increasing the need for private security. If I was in a recession proof business, how can the recession be responsible for the demise of my business?
The fact of the matter is this: I broke every good business practice during my formative years. After providing services for most of my initial clients, I did not even bother to follow up with them to solicit additional work.

The way security work is: the private security firm receives a call from a company that require security for their premises or event. The private security send their officers to the designated location and when the work is complete, the firm sends an invoice to the client's accounts department.
Representatives from the security firms never get to know or even meet the person who made the call or sent the mail. Therefore, never get to form relationship with them. However, in hindsight, I now know that there were ways that I could have forged relationship with those companies.

In 2008, we have a single big client that we provided services for nationwide. The fact that we provided services for them nationwide, appeared to us as if we had multiple clients.

When the big client got caught up in the flames of the financial crisis, they pulled us down with them. Literally placing all my eggs in one basket was my first deadly mistake.

My second fatal mistake was not developing along with my business. This is the biggest sins of most entrepreneurs. We establish our businesses, as the business grows, we fail to grow along with the business.
Kind of like parents who remain kids themselves.

The same skill sets that I had when I started the business from practically zero stayed with me even when I was making a million dollar. I never developed myself and my thinking process in confirmative with my new status.
I still worked as a security officer. I still conducted mobile patrol, alarm response and site visits. I could have easily employed a supervisor or manager to do all those while I concentrated on developing the business.

This was the key to my business failure. However, instead of facing the facts and accepting my short comings, I blamed the financial crisis.
I was very fortunate to have received an email of a business growth program called the 7 Figure Code. When I bought this program and watched it, it completely revolutionise my thinking. I came to the conclusion that business success does not depend on the type of business one is in, the environment or luck, but on the type of actions one took.

Like the chemistry formula hydrogen two plus oxygen equals water, which has never changed since it was discovered, there are certain actions that lead to business success and certain actions that result in business failure.
After the 7 Figure Code, I attended or acquired several different business development training by the best business coaches in the world. Business development training programs such as:

Eben Pagan - Get Altitude
Eben Pagan - Learning Technology
Frank kern - Mass Control
Frank Kern & Brendon Burchard - Millionaire Marketing Formula
Brendon Burchard - Expert Academy
Dan Kennedy - Magnetic Marketing
Jeff Walker - Product Launch Formula
Don Crowther - Social Profit Formula
Rich Schefren - Business Growth 2.0
John Carlton - Simple Writing System and Kickass Copywriting Secrets

The likes of Dan Kennedy, Rich Schefren and Eben Pagan are responsible for billions of dollars' worth of business development strategies. Dan Kennedy is considered one of the smartest business coaches in the world and Rich Schefren is the business coach to many of the internet millionaires in Silicon Valley.
Frank Kern is the marketing genius who sold twenty-three million dollars' worth of information products in a single day.

Learning from these guys completely revolutionise my business and my own thinking process, moving me from the brink to a business success story.
But here is the caveat: their trainings are not particularly cheap. Many of their training cost a minimum of $10,000. Despite the cost, their trainings are worth every single penny.

For example I have just completed nine books.

Think about that for a moment...
Nine books!

In a few months!

When many people struggle to complete even a single book.

I was I able to realise such achievement?

It was the result of my product development training from Brendon Burchard - Expert Academy and Eben Pagan - Guru Blueprint Product development formula.
However, because not a lot of entrepreneurs are capable of spending $10,000 for business development training, The business Education Center, was established to help budding entrepreneurs gain access to these valuable $10,000 business development training even if they cannot afford them.

Romeo Richards' new sets of books:
How To Market And Manage A Professional Firm
How To Market And Manage A Private Security Firm
How To Market and Manage A Corporate Training Firm
How to Market And Manage A Dental Practice
How To Market And Manage A Private Medical Practice
How To Market And Manage A Consulting Firm
How To Market And Manage An Accounting Firm
How To Market And Manage A Law Firm
How To Market And Manage A Coaching Firm

Contain the over $100,000 business development trainings I received from those business growth experts and experience of applying them to my business and those of my clients.

Every successful business, whether it is the HSBC Bank in the City of London or a cleaning business in a New Delhi ghetto, has five things I common, you will learn those five things in these books.

Markets are becoming saturated. The tyranny of choice brought about by the internet is making it increasingly difficult for businesses to find new customers for their businesses. How can your business benefit instead of be a victim of this new business reality? The answers are in these books.
Change is the only constant. The business environment is changing. Businesses practices that were acceptable yesterday can no longer be effective in this new business environment. What are the new business practices that will be effective in the new business environment, and how can you implement them in your business? You will find the answers in these set of books.

My desire is to help businesses understand how to navigate the new business environment.

I also co-authored the following books:
84% Most Effective Strategies For Increasing Retail Profit
14.3% The Most Effective Shoplifting Reduction Strategies
43.5% The Most Effective Retail Profit Protection Strategies
12.24% The Most Effective Retail Employee Error Reduction Strategies
24.5% The Most Effective Perishable And Non-Perishable Shrinkage Reduction
27.9% The Most Effective Retail Shrinkage Reduction Technologies
27.8% The Most Effective Retail Employee Theft Reduction Strategies
48.8%: The Most Effective Strategies For Reducing Retail Receiving Shrinkage

Romeo Richards books slated to be published October 2012:
Store Design Blueprint: How to design an attractive but profitable store
Visual Merchandising Display: How to create a beautiful yet profitable display
How to Increase Retail Sales
How to Make Profit in Retail
How to Attract Customers to Your Retail Store
How to Increase Retail Sales with Store Design and Visual Merchandise Display

Romeo Richards submitted book proposal for the following books:
How To Manage and Market A Business Development Firm
How To Manage And Market An Architectural Firm
How To Manage And Market A Recruitment Firm
How To Manage And Market A Private Psychology Practice
How To Manage And Market A Plastic Surgery
How To Manage And Market A Physiotherapy Practice
How To Manage And Market A Construction Company
How To Manage And Market An Engineering Firm
How To Manage and Market A NGO
How To Run An Effective Government

Learn more about Romeo Richards

Also by This Author


Hafiz Abdullah reviewed on Dec. 21, 2013

'How to Make Profit in Retail' focused on three simple but strategic areas of a retail store. They are as follows:

- Visual merchandising display
- Attractive store design and
- Loss prevention strategy

Following these instructions mentioned in How to Make Profit in Retail, has drastically improved my sales figure and my profit margin. If you are a retailer who want to create a profitable store, you need to definitely go through the proven methods outlined in the book.
(reviewed 3 days after purchase)
john adeshina reviewed on Dec. 17, 2013
(no rating)
My business was in a pretty bad sharp, I was definitely headed for closure.
Thanks to How to make profit in retail, I have implemented some changes that have seen things change for the better.
I initially thought I had done everything I could there was nothing left to try. However, this book helped me identify mistakes I was making.
I'm now able to use better strategies which have so far worked.
I have changed my store design and constantly implementing different types of visual merchandising display strategies.
Instituted a loss prevention program to reduce my shrinkage level.
(reviewed 23 days after purchase)
Gabrielle Wuerz II reviewed on Dec. 2, 2013

I liked the way this book is structured. It mentioned the key facts and following the step by step procedures will make any retail store profitable. I should definitely thank the author Romeo for his great effort. I would like to say, follow the three key areas and you are sure to see changes in your store.
(reviewed 11 days after purchase)
Momo Jamaica reviewed on Dec. 1, 2013

Definitely a great book for retailers about retail store. The author demonstrated good understanding of the issues facing the retail industry. Designing a beautiful but secure store is the key fact. Also creating visual merchandise display that attract customers will result in increased sales.
The author also focused on the key element of retail profit: shrinkage. Thus including the part about effective loss prevention strategy.
Every single topic is arranged in such a way that it provides the maximum informative to the reader.
(reviewed 5 days after purchase)
anastasic reviewed on Nov. 27, 2013

Many retail stores are closed down and there has plenty of reasons for this. How to make profit in retail helped me know how to avoid such fate. It gave me details instructions on how to make my store profitable.
It guided me in implementing good store design and visual representation strategies and put in place effective loss prevention process. Useful guide for the retailers
(reviewed 6 days after purchase)
destiny ighodefeyi reviewed on Nov. 25, 2013

As always, Romeo has again given us some food for thought. His thought provoking and relax presentation of serious topics are a breath of fresh air. I loved the way the book structured. He outlined every problem facing retail stores and gave guidance on ways of overcoming them.
Every retailer want to make profit. However, with profit margin so thin, retailers are constantly looking for new ideas to both increase sales and improve profit. This book has answered that call.
It is a guide for all retail store owners.
(reviewed 6 days after purchase)
Emily D. reviewed on Nov. 24, 2013

"How to Make Profit in Retail" is logically structured and the information flows sequentially. It covers: how to increase retail sales using customer attraction, branding, visual display and store design. I also learned effective loss prevention strategies. The step by step sequence at the end of chapters makes it easy to implement.
(reviewed 4 days after purchase)
Michael Panche Dalibor reviewed on Nov. 17, 2013

Revenue is the absolute goal of each store. Therefore to achieve a benefit, a shop has to abide by suitable ways that would seem efficient. This book is the perfect guide to proceed on this track with perfect guideline. This guideline could be the ultimate step by step procedure that explained almost every problem of this field along with so many cases and personal references. Its initial and for that reason realistic.
(reviewed 2 days after purchase)
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