How to run a retail business

Study at your own pace!

We’ve created our courses to suit your busy life! The duration of this course is based on a student guide where one 300 – 500 word article is read per day, and the assessment is done on a separate day after the relevant articles have been reviewed. But you can do the course in your own time and at your own pace. If you choose to do two readings per day, it will take you half of the estimated time, four readings per day means doing the course in a quarter of the time etc. We leave that decision up to you!

What this course is about?
On completion of this course you will have gained insights into:

  • What retail is, the role of a retailer and how to get started in a retail business.
  • Managing a retail business in terms of
    • People
    • The retail supply chain and pricing
    • The operational requirements
    • Financial considerations
    • Understanding customers and how to communicate with them

Who should be doing this course?
The course is designed for anyone who

  • Is interested in starting out in their own retail business
  • Would like to start a career in retail

Learning outcomes
After completing this course, you will be able to:

  • Start writing a business plan for a new retail operation
  • Conduct a simple SWOT analysis
  • Understand the implications of employing people
  • Make decisions about the stock you will carry and the implications of carrying too much or having too little stock.
  • Set prices for your stock at prices that will be competitive in the market that you serve, and still make a profit
  • Start planning the administrative controls for an effective retail operation
  • Discuss the financial aspects of a retail business with a knowledgeable person
  • Start planning how you will attract and keep customers

How your final mark is calculated?

Your course mark is calculated using the average mark obtained in each of the Chapter tests. In order to pass this course, you must obtain a final course mark of at least 50%. This means that even if you fail a few of the chapter tests, if your test marks in the other chapter tests are high enough you will still be able to pass the course. Good Luck!

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