Forms of retail businesses

What are Stores / Shops?

• Shops and Stores can be described as physical (traditionally bricks and mortar)

• Shops and Stores can be described as non physical (traditionally bricks and mortar)

• Shops and Stores can be described as online ecommerce.

• Shops and Stores can not be described as physical (traditionally bricks and mortar)

Online retailing ............

• can be described as physical (traditionally bricks and mortar)

• this means selling in a physical store and online

• is a mix of two things to form one

• Online shopping (sometimes known as E-tailing, from "electronic retail" or E-shopping) is a form of electronic commerce

Multi-channel.................

• Online retailing allows customers to buy products without visiting a physical store

• Using more than one of the retail channels to sell through. For most retailers this means selling in a physical store and online.

• Can be described as physical (traditionally bricks and mortar) and either permanent or temporary

• Is a mix of two things to form one

Hybrid..........

• Using more than one of the retail channels to sell through

• Can be described as physical (traditionally bricks and mortar) and either permanent or temporary

• A hybrid is a mix of two things to form one. Hybrid retail stores link the importance of a physical store with E-commerce and / or hospitality and leisure facilities.

• Can not be described as physical (traditionally bricks and mortar) and either permanent or temporary

Concessions............

• Using more than one of the retail channels to sell through

• Is a mix of two things to form one

• The owner of the concession does not pay another business / retailer in order to sell their products in their premises / store

• The owner of the concession pays another business / retailer in order to sell their products in their premises / store

Temporary shops are also known as...

• Pop up shops

• Pop shops

• Top shops

• Pop down shops

Markets.............

• Indoor or outdoor – these can be general markets or specialist markets, such as arts and crafts markets, French, Christmas and Farmers' markets.

• Traditional temporary stores include seasonal shops such as Christmas shops and firework shops.

• This can differ depending on what is being sold, some last for a day only, others trade for weeks or months.

• Is a mix of two things to form one

Franchising is an agreement in which one business (called the franchisee) buys the right to sell the goods or services of another business (called the franchisor), and is allowed to use the franchisor's name.

True or False

• True

• False

Which is a franchisor?

• Starts a business
• Takes over a business
• Buys into an existing brand
• Allows others to use their brand name

What is a franchise?

• Where a business sells the rights to their brand
• Where you have full control
• Where you keep all the profits