If the appearance of your store is unkempt and you have cut back on maintenance to save money, then your shop is in the first stage of retail decline, according to a chart featured on The Retail Owners Institute (ROI) Web site.
If you are years behind in caring for your store, you have reached stage three and have arrived at chronic neglect.
The Web site list three stages of decline for each of eight categories: cash, employees, advertising, appearance of store, merchandising, inventory, vendor relationships and financials.
“The sooner you recognize the condition you are in, the more effective — and less drastic — your adjustments will need to be,” according to ROI, which recommends the five ways to begin turning things around. Take a look and see if your store can benefit by doing any of the following: