• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • RECOMMENDED BOOKS
  • FREE TOOLS
  • CONTACT US
  • ABOUT

The Fortunate Investor

Investing, Business & Personal Finance For Wealth Builders

  • Save Money
  • Invest Your Money
  • Get Out of Debt
  • Making Money Online
  • Family & Money
  • Taxes
  • Business
  • Retirement
    • Retirement Calculator
Home » Expanding Your Retail Infrastructure

Expanding Your Retail Infrastructure

November 25, 2019 By Kevin | This article may contain affiliate links. For more information visit our Disclosure

Tweet
Share
Pin
Share
Share

Expanding Your Retail InfrastructureIf you’ve started your independent retail business with just one or two units, success may well prompt you to expand. But a small handful of outlets can often run well without the need for any central operations hub. 

Expanding your business may mean that you will need to think about creating a set of supporting elements to service your business as a whole. These will including warehousing, logistics, administration, and management.

To create these areas within your business, you may require significant investment, and as such will require a fully costed business plan. There will, of course, be many many areas of the business that will benefit financially through this growth in infrastructure. 

Warehousing

Having a central warehouse will provide you with a greater opportunity to increase your buying power. If you are not working in short-dated or perishable items, then having the space to allow you to hold onto more stock will mean that you can barter down your purchase prices. 

The considerations for warehousing will be maximizing your storage for the smallest square footage as well as creating a picking system that is logical, fast, scalable, and easily taught. Often when it comes to managing your warehouse, the best way to cut down on costs is through efficient and speedy stock handling, minimizing stock loss or damage, and having a well-managed inventory that provides accurate and fast replenishment. 

Logistics

How To Reduce Logistics Costs Once And For All

Getting the stock where you need it to be as the next area of consideration. You may choose to use couriers, but this can get costly after a while. If you are moving bulks of stock out to your stores regularly, then you will need to invest in a transport manager, drivers, and vans. Shop around for some quotes from a van hire firm, and find yourself a good pallet supplier. 

Efficiency in logistics will come from planning your van routes in a logical manner, transporting stock during the times of the day when the roads are the quietest, and trying to maximize the amount of stock that you are carrying on any run. 

Administration

The more staff you have working for you in your stores, warehouse, and logistics departments, the more people there will be that need paying. Added to that you will have hiring to think of, as well as all of the processes that a staff member will go through during on-boarding. 

There will be suppliers to pay, as well as rent, business rates, and all of the bills that are associated with running a company. The more your company grows, the more dedicated admin staff you will need. 

Management

Of course, the bigger the company, the more decisions you will need to make. The more staff you have, the more procedures and practices you will need. To keep everything running smoothing while driving the company forward, you will need a management team. Often, this may be a small number of directors along with operations managers and field managers who will visit all of the stores. 

  • About
  • Latest Posts
Kevin
Kevin has been a professional writer in personal finance and business topics for over 20 years.
Latest posts by Kevin (see all)
  • How To Be Financially Wise As A Business Owner - September 14, 2021
  • How Best To Invest In Property - September 9, 2021
  • 6 Jobs For Those Of You Who Love Being Behind The Wheel - August 19, 2021

Primary Sidebar

Popular Articles

every investor

7 Current Economic Policies Every Investor Should Know About

The rate at which the U.S. economy has grown over the past decade has been unprecedented. However, … Read More about 7 Current Economic Policies Every Investor Should Know About

Whats Going Wrong In Your Business And How Can You Sort The Problems

What’s Going Wrong In Your Business And How Can You Sort The Problems?

Every business has its problems, there is no way around this. However, not every business has the … Read More about What’s Going Wrong In Your Business And How Can You Sort The Problems?

How To Choose The Right Manufacturing Company

How To Choose The Right Manufacturing Company

Having a modern, open and wide-ranging overview of the manufacturing industry is extremely important … Read More about How To Choose The Right Manufacturing Company

Is Productivity An Issue In Your Business Lets Sort That Out

Is Productivity An Issue In Your Business? Let’s Sort That Out

Productivity is one of the things that you should always be looking at when it comes to your … Read More about Is Productivity An Issue In Your Business? Let’s Sort That Out

Key Reasons Real Estate Is A Great Investment

Key Reasons Real Estate Is A Great Investment

Diversification of your portfolio is something that all investors will come across in their … Read More about Key Reasons Real Estate Is A Great Investment

Footer

TOPICS

SAVE MONEY
INVEST MONEY
REDUCE DEBT
MAKE MONEY
FAMILY & MONEY
TAXES
START A BUSINESS
RETIREMENT

THE FORTUNATE INVESTOR

ABOUT US
ADVERTISE
CONTACT US

The Fortunate Investor focuses on personal finance topics to build wealth. Topics include saving money, investing, managing debt, family and money, taxes, making money, college planning, starting a business, coupons and retirement.

SOCIAL MEDIA

FACEBOOK
TWITTER
PINTEREST
INSTAGRAM
YOUTUBE

Copyright © 2022 Fortunate Investor. All Rights Reserved. | Disclaimer & Disclosure | Privacy Policy | Terms of Service