Moving towards a retail business is one of the most profitable ventures that an entrepreneur can take considering that it is one of the fastest growing sector in any economy. At least one third of most ventures undertaken come under this category and it allows a good and honest living through providing people with a wide variety of goods and services. Retailing is mostly undertaken through trading mechanical parts, electronics, clothing and accessories, appliances and home utility goods and it also includes services like advice and skilled labor mostly in the life-improvement sector. Basic Retailing can come under the following categories: 1. Store-Retailing: This includes most independent shops which range from departmental or convenience stores to conventional supermarkets and many large-scale enterprises. 2. Specialty Retailing: It is achieved through understanding the demand of the market and supplying directly to the needs of the customer. 3. Non-Store Retailing: …
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