The Myth About Retailing

xhunterx

Hi All,

New to this forum, pardon me if my qns seem abit unconstructed or ignorant. I recently got layed off from my job and this presented a great opportunity for me to start my own small retail business.

Eversince i was young i had an idea that when i reached my early 30's. I would move out of office jobs and do my own business/shop, however that chance came much earlier.

I would like to take to this moment to find out more about starting up a retailing shop and the risk involved.

1) Do retailers general make substantial income after deducting their expenses from rent, utility, hiring staff and stocking of goods on a monthly basis? Or usually struggle to make income just above break even?

Eg Venue: Bugis Village, selling ladies fashion, target audience 15-24 Females and so on.

2) How would one manage their inventory so that it doesn't accumulated old stocks? Is clearance sales the only way to go?

3) Besides setup cost, how much buffer of monthly rent does one usually need to maintain. If sales are not performing as a precautionary measure.

Can PM me.