Image credit barndesinging.com

Image credit barndesinging.com

ZIMSEC O Level Commerce Notes: Retail Trade: Setting up a retail outlet

Factors to consider when establishing a retail outlet

  • adequate capital to start the business
  • the demand for the goods to be sold
  • good management skills
  • accessibility to the retail outlet for example is it close to the road so people can easily reach it not in some back alleyway
  • target group of customers to be attracted
  • competition from other retail outlets
  • legal requirements to be met e.g. trading licences and health inspections
  • experience in the line of business
  • nearness to suppliers and wholesalers, water and electricity
  • whether to buy, rent or build buildings
  • the development potential of the area in case of future expansion plans
  • nearness to customers
  • labour required
  • advertising costs involved
  • storage facilities for the goods

To access more topics go to the Commerce Notes page.

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