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General Retail Business Issues/Questions Answered by Expert Stu Jordan

SubjectDate Asked
Re: Markups on Products6/4/2014
  Q: I'd appreciate your answer to the following: I've been in contact with a company in the Philippines ...
  A: You have not specified the cost of the product, so to answer your question on a more holistic level, ...
setting prices from manufacturing body/facial lotionsto wholesale2/27/2014
  Q: I have a bath and body products line that I have started.I have sold at craft shows and online but ...
  A: Well done on the plan to expand your business! Wholesale pricing and markup is probably the area I ...
Pricing Structures and Profit Margins8/20/2012
  Q: My company has created an all natural remedy for a very common infant malady. We've been selling on ...
  A: Always exciting to see the entrepreneurial spirit alive and well. With regard to your questions: ...
WHOLESALE PRICING7/24/2012
  Q: I am a clotihng designer getting ready to sell my first collection. I am trying to get an idea of ...
  A: Well done on taking a leap into business! Without knowing what you believe the MSRP/RRP to be (eg, ...
Supplier > Retailer relationship5/27/2012
  Q: I have established a US company which imports and supplies art materials and until now have sold ...
  A: well done on getting a new product ready for market - always an exciting time. Firstly, you may set ...
Pricing - wholesale & retail12/20/2011
  Q: I’ve a patent pending for necktie. A factory in China helped make my prototype. If I can find a ...
  A: Well done on getting a patent, hope the rest of the process goes well - it is a big thing for ...
Sales Comission for Retail Manager10/10/2011
  Q: I am plannig to open a retail store (jewelry price average range of $50~300) I wonder how commision ...
  A: Opening a retail business is exciting, so I hope you are enjoying the process. To answer your ...
Shoe retail9/29/2011
  Q: I am setting up my own shoe business where shoes are made of recycled and sustainable products. Can ...
  A: Interesting business concept - sustainable footwear! You should be able to generate some great PR ...
starting a furniture business8/17/2011
  Q: My husband and I are considering opening a furniture store in a fairly large town where there is ...
  A: Starting a business is an exciting time, but if you do not have previous experience in retail, I ...
New Business - Retail v Wholesale Query7/20/2011
  Q: I recently setup an online shop selling designer doggie clothes and accessories but now I am looking ...
  A: Doggie accessories - cute! You are correct, there is no magic number for calculating costs. I am ...
Wholesale Pricing Bath & Body Goods7/19/2011
  Q: I currently sell handcrafted glycerin soaps and bath goods. I have a store thrilled with my product ...
  A: Without more information (do you manufacture or buy from a local distributor, or import these?; how ...
distributorship issues7/5/2011
  Q: really glad you are willing to entertain questions from a real beginner. I am seriously considering ...
  A: Apologies for the delay in answering - sometimes business calls! It is great to see you have ...
Manufacturing markup - clothing6/18/2011
  Q: I manufacture clothing (not in-house, I work with a factory in the United States). I am trying to ...
  A: Sounds like an exciting time in your business! To be successful, you need sales. In your model, it ...
target mark up & seasonal stores6/17/2011
  Q: I own a retail store in CT. We sell team licensed products ie. yankees, red sox, bruins, dallas ...
  A: Your first question is a big one - and I have written about this many times. I do not believe for a ...
wholesale price with pos cost and delivery cost4/28/2011
  Q: we sell handmade sweets. our cost includes ingredients and packaging is £2.44(no labour cost ...
  A: As it so happens, I am in the confectionery business - as a retailer, so this question is one I am ...
Retail to wholesale4/25/2011
  Q: Stu, I have a furniture import store and due to the economy it is very slow. I have thought about ...
  A: Furniture retailing is incredibly competitive and one of the hardest hit during recession - people ...
Slow business day (all year)4/9/2011
  Q: I own a bead shop, and I would really appreciate some advice. But perhaps a little background on the ...
  A: I am currently based in NZ, and retail here is very tough right now, I can easily say the toughest ...
Distributor interest4/4/2011
  Q: I currently sell products wholesale to shops in numerous countries and have some people requesting ...
  A: It is a good sign to have a distributor chasing you, usually I get asked how to get products into ...
Commision to give dance studio owners3/28/2011
  Q: I own a small dance supply store in my local area. When talking with one of the Dance Studio owners ...
  A: If your friend is not charging you to be there, then a commission via a percentage of sales is fair. ...
Profit Margin/ Markup3/18/2011
  Q: I am manufacturing a specialty powdered/dry dessert mix that I would like to bring to market. ...
  A: I am often asked questions around pricing products for market. If you look through some of my ...
Getting product in stores.3/2/2011
  Q: Do you know of an effective approach to get products into the large retailers like saks,neiman ...
  A: Getting in front of large retailers can be very challenging. There is not rule book on the best ...
Finding the right supplier2/5/2011
  Q: Hey Stu i was wondering if you could help me find a quality manufacturer or distributor that work ...
  A: and well done on launching your own venture - despite early set backs, it is usually a very exciting ...
pricing structure for online1/24/2011
  Q: Wholesale/ dist. consumer tiers. Is it possible to hire you to create a complete pricing plan to ...
  A: Apologies for the delay - for some reason, allexperts.com didn't send notifications of your ...
New product pricing??1/14/2011
  Q: We are a start up business developing a tourist targeted product, specific to a location on the Med. ...
  A: it makes it easier to give a detailed answer. I will answer with numbers that exclude any sales ...
Helping retailers with cashflow1/11/2011
  Q: Say you are a retailer in apparel goods with a 65% profit margin. On average, for $20 worth of ...
  A: It is an interesting concept. Depending on the store and the average sale price that store ...
Retail for Leather Apparel9/6/2010
  Q: Wow, what a blessing to find this site, thanks in advance for answer my questions. First I have ...
  A: Apologies for the delay in answering! Busy times in my retail business! Well done on launching a ...
Selling Personal Artwork8/24/2010
  Q: I am in the process of creating a type of artwork that will be print based however each one will be ...
  A: My recommendation is that you test the market first - otherwise you are simply guessing! A couple ...
wholesale vs retail???8/6/2010
  Q: As an artist being able to reproduce the artwork in the form of prints on canvas has opened up new ...
  A: It sounds like you have a great idea. What you will need to do is conduct some research as to price ...
E Commerce and Wholesale6/4/2010
  Q: How does an e-commerce store that shows prices of their product, sell wholesale to retail stores? ...
  A: Your question does not have quite enough information for me to give you a more specific answer - I ...
Freight on Board Pricing5/29/2010
  Q: I have a product that is being produced in Ningbo,China. I have multiple customers that want to buy ...
  A: It sounds like you have a desirable product, with multiple customers wishing to buy FOB out of ...
suggested retail pricing5/1/2010
  Q: I have a questions about suggested retail pricing from both the wholesale and retail perspective. As ...
  A: One of the most common areas I get questioned about as a Retail Consultant is that of pricing, and ...
retail prosperity sys2/19/2010
  Q: I am thinking to reinventing new product line in to my exiting gift business. Since last few months ...
  A: I don't post out copies of this, it is sold in electronic format. I am happy to email you a copy of ...
Wholesale vs Retail price1/27/2010
  Q: The business industry is aromatherapy products - sprays, washes, masage oils etc. Supplie in 100ml ...
  A: It is nice to get a question with so much detail! Your production costs are very high in ...
Wholesale and retail mark-up in gift industry1/6/2010
  Q: My product is a rubber coin pouch made of silicone. I try to market it as a design-led gift and a ...
  A: Sounds like an interesting product. I would not advise you have different wholesale prices to each ...
New account and gifts12/15/2009
  Q: I have started a new business importing high-end gift items into the US. I don't have the budget to ...
  A: Sending these as a free gift is not advisable. Most department stores and chains have very strict ...
from FOB price to retail price11/20/2009
  Q: I am trying to work out how to calculate back from a retail price to the FOB (from a port in China) ...
  A: Congratulations on starting out on your own venture. The FOB price quoted by Chinese manufactures ...
Need more info about POS10/28/2009
  Q: I want to set up the Asian Grocery store near my town. I did some research about it, and it seems ...
  A: POS is short for Point of Sale, and in this context refers to the 'computerized system' you have ...
costing right price9/26/2009
  Q: Greetings! I just want to ask you a few question regarding my small boutique im selling cloths t ...
  A: In my time as a Retail Consultant, questions around pricing strategies are the most common. And it ...
Retail Mark-up9/10/2009
  Q: What is the average mark-up for retailers on an apparel item like Ties and cravats? Also where do I ...
  A: Regarding the query regarding average mark-up. Mark-up is a very clumsy tool for retail pricing. I ...
Pricing strategy7/21/2009
  Q: I have been leasing space at an antique mall for 6 months. I'm well aware of the reasoning behind ...
  A: As a retailer, you see and perceive things in retail differently from most consumers. To answer ...
Pricing7/15/2009
  Q: I have a new baked product and beautiful bags for marketing. my 1st ?, to come up with the price of ...
  A: Sounds like you have a great opportunity in front of you. Getting your pricing right from the ...
advertising6/24/2009
  Q: How much would it cost to advertise the opening of a fashion boutique?
  A: Excellent question! I am in the process of opening a retail store at the moment, and the question ...
Information Management6/19/2009
  Q: I am researching what business challenges Retail businesses face on a day-to-day basis in regards to ...
  A: Interesting question. There are a few pain points that may be of interest to you. However, every ...
Best way to collect donations at retail store?5/16/2009
  Q: Recently I designed some “in case of fire-save our pets” stickers that could be distributed to pet ...
  A: Well done on your project! There are two ways I would recommend you go about this. You have a ...
Fashion retailing4/25/2009
  Q: I m a Retail Operation Manager of a new Grand Boutique.The store space is around 600sqm, in a two ...
  A: and thank you for the question. I am not sure statistics will be much help to you here, as every ...
Retail mark up on Shoes4/9/2009
  Q: Do you have any idea of what the general retail markup % is on a pair of golf shoes as well as a ...
  A: this is a great question, and on a topic I get asked by retailers all the time. Mark up between ...

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Stu Jordan

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Expertise

Simply put, I help Retailers make more profit! You will NOT hear me talk about excessive stock control mechanisms, specialized POS software, or sales training. Instead, I am available to answer questions relating to retail fundamentals - the art of buying and selling - and making a healthy profit along the way. Areas of specialty include: - CASHFLOW - how to keep your business in the black (or get it out of the red!) - PRICING - strategies, margin, mark-up, wholesale to retail, etc. - PRODUCTS - what to buy, what to avoid. - PRESENTATION - the science of product placement! - SALES - how to grow these fast, and keep the cash register ringing. - AGED STOCK - a silent profit killer! How to manage this area of your business - SUPPLIERS - leveraging these relationships so you get more from them! - MARGIN EROSION - and how to prevent it. If you have any general or specialized retail issue, I am happy to help you out. Also happy to talk to manufacturer/wholesalers who are looking for advice on breaking their products into the retail market. Follow me on Twitter @retailguru, or check out my blog for other useful advice (free!) retailprosperity.com

Experience

15+ years experience in the Retail industry - unlike many experts, I have made my money from my own retail ventures, not from selling my advice! Over ten years of my retail life was as a troubleshooter - my job was to fix the messes! I have worked with a huge variety of retailers to turn their struggling businesses around, and have found there are a number of principles that apply to all types of retail businesses, from luxury boutiques through to 2nd hand stores. I own a successful retail business in New Zealand, which has recently been franchised. My success comes in retail from the same strategies I am happy to share with you. I am also the author of The Retail Prosperity System - a handbook for Retailers who want to make more money from their retail businesses. This outlines the strategies I have developed and used in retail myself.

Organizations
A number of Retail Associations, including NZRA, BNI (you would be amazed how networking can improve your revenues!), EMA, New Zealand Franchise Association

Publications
Author of The Retail Prosperity System, various forums and blogs.

Education/Credentials
Studied Law at Otago University, and let's be honest - nothing beats 15 years real experience in the retail world, including building my own successful retail chain from scratch!

Awards and Honors
New Zealand TOP SHOP finalist - 2010

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