Advantage and Disadvantages of Different Retail Business
Retail Management 3rd assignment
Rahul Nakarmi
Silver Mountain Graduate Business School
Retail Management, Semester 5
Sachin Karanjit
Feb 11, 2013
Advantages and disadvantages of different retail business
There are various forms of retail and among them classification based on ownership seems quite popular. There types based on this are independent, chain and franchise retailer. Personally the example of independent retailer (small retail outlet) is one near my house which owned by a Gurung couple and is a small store that sells variety of food products from vegetables to small candies such as coffee bite and so on. The major advantages of them in view are that they can control over whole management of the store such as planning, organizing and so on making decisions very easy to perform. Furthermore, they are usually at the front desk so they have an usual interaction so there would most certainly be high customer relationship mad sometime may result in loyal customer followings. Also I think that the profit they receive goes to themselves only and to no one else, so less sharing and initial I also think that they had easily opened up their shop which less hassle. In addition I also believe that they can change their layout at will and also can develop themselves, further i.e. character wise such as in leadership.
On the flip side, being such a small retail outlet means the couple who own cannot bargain with powerful suppliers such as Coke, Wai wai and others. Also all the shifting of goods and all the menial labor has to be conducted by themselves and if labor is hire extra cost is there. And also when either of the couple is sick or unhealthy or is busy with family the chop closes so which means valuable business time and customers may get lost this is I think is the most harming disadvantage business wise.
In terms of chain retailer (many outlets)the example that comes to mind is big mart which has outlets in Lazimpat, Baneshwor and inside City
Rahul Nakarmi
Silver Mountain Graduate Business School
Retail Management, Semester 5
Sachin Karanjit
Feb 11, 2013
Advantages and disadvantages of different retail business
There are various forms of retail and among them classification based on ownership seems quite popular. There types based on this are independent, chain and franchise retailer. Personally the example of independent retailer (small retail outlet) is one near my house which owned by a Gurung couple and is a small store that sells variety of food products from vegetables to small candies such as coffee bite and so on. The major advantages of them in view are that they can control over whole management of the store such as planning, organizing and so on making decisions very easy to perform. Furthermore, they are usually at the front desk so they have an usual interaction so there would most certainly be high customer relationship mad sometime may result in loyal customer followings. Also I think that the profit they receive goes to themselves only and to no one else, so less sharing and initial I also think that they had easily opened up their shop which less hassle. In addition I also believe that they can change their layout at will and also can develop themselves, further i.e. character wise such as in leadership.
On the flip side, being such a small retail outlet means the couple who own cannot bargain with powerful suppliers such as Coke, Wai wai and others. Also all the shifting of goods and all the menial labor has to be conducted by themselves and if labor is hire extra cost is there. And also when either of the couple is sick or unhealthy or is busy with family the chop closes so which means valuable business time and customers may get lost this is I think is the most harming disadvantage business wise.
In terms of chain retailer (many outlets)the example that comes to mind is big mart which has outlets in Lazimpat, Baneshwor and inside City