Economic Restructuring

"Scott Day was really helpful because [he] commented on the [store's] name and about how it should convey a more fun, colorful, kid sound. He also talked about what we could do to change our windows and that we shouldn't have all of our bestsellers right as you walk in. As a result, sales have gone up in the last few months, especially for toys and books." Robin Hendrix Co-Owner Totally Kids, Winstead CT

Business Retention

Business retention is one of the first areas an economic restructuring committee needs to address.  This workshop looks at business assistance and education programs that foster small businesses in downtown.  This workshop can be held for the business recruitment subcommittee on how to develop this aspect of economic restructuring or a selected topic can be presented to the merchants as part of the business retention effort.  Various topics include:

• Survey work, the prerequisite for business retention, reviewing market and demographic data;
• Business plan development, retail pro forma, and developing an open to buy;
• Organizational structure/business management;
• Marketing, hospitality/tourism;
• Franchising;
• Finding and keeping good employees, personnel management, stress and time management;
• Inventory control, working with computers and point of purchase data terminals;
• Low cost means of improving sales and building long-term customer loyalty;
• What to do in advance of new competition opening, competing with discounters; and
• Sharing business resources within a business district.