Retail Entrepreneurship Development Program - REDP

Overview

Retail Entrepreneurship Development Program – REDP is a program of the Retail Academy designed for individuals who are considering starting and running their own retail businesses and individuals who are already running a retail business but are not really achieving the goals they set out to achieve and desire a turnaround. Non-retail SMEs will also benefit from the program.

Your dream of starting a retail business is set to become a reality. It may take a lot of initial work as you start your own business, but with the right foundation, planning, and support systems, success can be achieved! - Joseph Ebata

This program will answer such questions as: What can I profitably sell? How do I raise capital? How many staff do I need and how do I get them? How can I serve the different types of customers? How can I ever compete with already established retailers? How do I set my prices? What are the possible problems that I may encounter and how can I overcome them? Where will I source my products? Where will I source equipment and which equipment are the best for my type of retail business? Should I sell online?

It will also provide answers to business challenges such as I don't know what is happening to my business. I am just pumping in money and there is no commensurate result. My sales staff are just stealing my goods and I am thinking of closing it down. What can I do? What must I do?

Whether you are thinking of starting a business or seeking a turnaround, REDP is the perfect program for you. It will provide you with the “how to” of starting and managing a retail business and/or achieving that turnaround you so much desire. REDP will give you a strong foundation for developing the requisite knowledge, skills, and attitude for starting and running a successful retail business.

Attending the REDP of the Retail Academy, therefore, is an investment in your future. Our mission is to provide you with the highest quality of education, the best preparation for your retail entrepreneurship success, and the greatest opportunity for an exciting, fulfilling, and rewarding retailing life.

REDP is a Certified Program.

OUTLINE

• MODULE 1 - INTRODUCTION

Welcome to Your Retail Business Journey

• Is retailing right for you?

Exploring the Retail Landscape

• Current trends in Global Retailing

• Retail Transformation in Nigeria – Past, Present & Future

Types of Retail Businesses

• Deciding the Best Kind of Retail Business for You

• MODULE 2 - DEVELOPMENT OF CONCEPT

Business strategy (Go-to-market strategy)

Project cost estimation & budget

Sourcing finance

Location – strategies & choices

Introduction to Business Plan

Legal Requirements

• Deciding the business name

• Business registration procedures

• Type of business registration

• Corporate responsibilities to stakeholders – Staff, shareholders, suppliers, host community & government

• MODULE 3 - SET-UP & OPERATIONS

Real Estate

• Sourcing a suitable property to purchase or lease

• Purchase or lease agreement

Merchandising

• Assortment planning

• Supplier/Merchandise sourcing

• Supplier negotiation and contracts

• Inventory management

• Logistics management

• Warehouse management

Store Design, Layout, Fixtures & Visual Merchandising

• Planning Your Retail Store Layout

• Furnishing Your Retail Store

• Display & Visual Merchandising

Pricing

• Retail Pricing Strategies

Retail software/hardware

• POS, inventory management systems, etc.

Equipment Requirement

Human Resources

• Company structure

• Types of Organogram

• Setting Company Policies

• SOPs

• Hiring

• Training

• Talent management, pipeline development & Succession Planning

• MODULE 4 - MARKETING YOUR RETAIL BUSINESS

Retail Marketing Mix

Promoting Your Retail Business

Social Media Marketing

Why You Need a website

Developing Your Business/Marketing Plan

INDIVIDUAL ASSIGNMENT – WRITING YOUR BUSINESS PLAN

GROUP ASSIGNMENT

• MODULE 5 - POST STORE OPENING

Selling in Retail

Customer Service & Experience Management in Retail

Smart Store Management

•Setting Goals, KPIs, and Metrics

•Keeping Good Records

• Shop floor Management

• Till Management

• Customer Data Management

Planning for the Future Expansion

• 2nd Store

• Additional Product Lines

Risk Management

• Managing the different Types of Risk

• Loss Prevention

• Security & Safety

GRADUATION - Valedictory Lecture: The Winning Mindsets of a Retail Entrepreneur

PRESENTATION OF CERTIFICATES