Understanding the Market:
– **E-commerce Impact:** Online shopping trends can affect brick-and-mortar stores.
– **Product Diversity:** A wide range of products can attract more buyers.
Key Considerations:
– **Location and Foot Traffic:** High-traffic areas increase sales potential.
– **Inventory Management:** Efficient systems and accurate inventory are important.
– **Customer Loyalty:** Loyalty programs and repeat customers add value.
Preparation Tips:
– **Financial Health:** Demonstrate steady sales and profitability.
– **Supplier Relationships:** Reliable suppliers ensure consistent stock.
– **Marketing Strategies:** Showcase effective advertising and promotions.