Retail Entrepreneurship Development Program - 10/2/2020 - The leading retail and brand consulting, training and development group in Nigeria. We help organizations maximize performance, drive growth and improve overall success through our industry specific products and services such as consulting, training workshops, seminars, conferences, roundtables, exhibitions, recruitment services, business startups, business turnaround, and more. %

Retail Entrepreneurship Development Program – REDP

PROGRAM OVERVIEW

Retail Entrepreneurship Development Program – REDP is a program of the Retail Academy designed for individuals who are considering starting and running their own retail businesses and individuals who are already running a retail business but are not really achieving the goals they set out to achieve and desires a turnaround. Non-retail SMEs will also benefit from the program.

Your dream of starting a retail business is set to become a reality. It may take a lot of initial work as you start your own business, but with the right foundation, planning and support systems, anyone can achieve their goals.

This program will answers such questions as: What can I profitably sell? How do I raise capital? How many staff do I need and how do I get them? How can I serve the different types of customers? How can I ever compete with already established retailers? How do I set my prices? What are the possible problems that I may encounter and how can I overcome them? Where will I source my products? Where will I source equipment and which equipment are the best for my type of retail business? Should I sell online?

It will also provide answers to business challenges such as: I don’t know what is happening to my business. I am just pumping in money and there is no commensurate result. My sales staff are just stealing my goods and I am thinking of closing it down. What can I do? What must I do?

Whether you are thinking of starting a business or seeking a turnaround, REDP is the perfect program for you. It will provide you with the “how to” of starting and running a retail business or achieving that turnaround you so much desire. In addition, REDP will give you a strong foundation for developing requisite knowledge, skills and attitude for a starting and running a successful retail business.

Earning a certificate from the Retail Academy therefore is an investment in your future. Our mission is to provide you with the highest quality of education, the best preparation for your retail entrepreneurship success, and the greatest opportunity for an exciting, fulfilling and rewarding retailing life.

Web development, digital marketing, ad services, content creation, branding & corporate identity, corporate event planning and management services available

OUTLINE for Retail Entrepreneurship Development Program

MODULE 1 – INTRODUCTION
- Welcome to Your Retail Business Journey
  - Is retailing right for you?
- Exploring the Retail Landscape
  - Current trends in Global Retailing
  - Retail Transformation in Nigeria – Past, Present & Future
- Types of Retail Businesses
  - Deciding the Best Kind of Retail Business for You

MODULE 2 – DEVELOPMENT OF CONCEPT
- Business strategy (Go-to market strategy)
- Project cost estimation & budget
- Sourcing finance
- Location – strategies & choices
- Introduction to Business Plan

MODULE 3 – SET-UP & OPERATIONS
- Legal Requirements
  - Deciding the business name
  - Business registration procedures
  - Type of business registration
  - Corporate responsibilities to stakeholders – Staff, shareholders, suppliers, host community & government
- Real Estate
  - Sourcing a suitable property to purchase or lease
  - Purchase or lease agreement
- Merchandising
  - Assortment planning
  - Supplier/Merchandise sourcing
  - Supplier negotiation and contracts
  - Inventory management
  - Logistics management
  - Warehouse management
- Store Design, Layout, Fixtures & Visual Merchandising
  - Planning Your Retail Store Layout
  - Furnishing Your Retail Store
  - Display & Visual Merchandising
- Pricing
  - Retail Pricing Strategies
- Retail software/hardware
  - POS, inventory management systems etc.
- Equipment Requirement
- Human Resources
  - Company structure
  - Types of Organogram
  - Setting Company Policies
  - SOPs
  - Hiring
  - Training
  - Talent management, pipeline development & Succession Planning

MODULE 4 – MARKETING YOUR RETAIL BUSINESS
- Retail Marketing Mix
- Promoting Your Retail Business
- Social Media Marketing
- Why You Need a Website
- Developing Your Business/Marketing Plan

Retail Consulting, Training & Development Programs in Nigeria

INDIVIDUAL ASSIGNMENT – WRITING YOUR BUSINESS PLAN

GROUP ASSIGNMENT

MODULE 5 – POST STORE OPENING
- Selling in Retail
- Customer Service & Experience Management in Retail
- Smart Store Management
  - Setting Goals, KPIs and Metrics
  - Keeping Good Records
  - Shop floor Management
  - Till Management
  - Customer Data Management
- Planning for the Future Expansion
  - 2nd Store
  - Additional Product Lines
- Risk Management
  - Managing the different Types of Risk
  - Loss Prevention
  - Security & Safety