Like this article? PLEASE +1 it! Evan Signature
Evan Carmichael Top Header
Share for a Cause









How Copying Canadian Tire Can Help Grow Your Small Business Big Time

Guest post by: Liz Walker

Article Overview: Canadian Tire CEO Stephen Wetmore is growing his “smart stores” Some store sales have grown between six and eight per cent, and some departments have more than doubled. You can grow your retail business by copying some of his proven ideas. Here’s how:

Free Download - What are you really good at? By Liz Walker
Name: Email:

How Copying Canadian Tire Can Help Grow Your Small Business Big Time

Give more attention to growing categories. For Canadian Tire, these are sports, recreation, home storage and pet and auto care products. Treat each section like a fashion boutique, with displays featuring the latest trends.

Identify the main "power aisle" and make sure it takes shoppers to your most-wanted section.

Set products out in a setting that shows products in use to help encourage multiple purchases.

Move the "destination" section-in Canadian Tire's case, tools, to the back with an eye-catching wall of products on display.

Move impulse-driven items to the front-sales can double.

Put "go-together items," like hardware and tools, in the same section to capture more sales.

Take bulky items out of their boxes and display them.

Now that you've re-merchandised your store, don't forget customer service. Here are some real words from actual customers about what they value in a retail shopping experience.

"They listen to my repair plan and suggest items, all the while realizing that I, the individual, in a Thursday evening panic, am their meal ticket. Something I will gladly pay for, and will offer patronage for."

"The owner himself walked with me through the cavernous store to find what I wanted and helped me take the item to the cash. Service is what motivates me to return to this store."

"I do not have the patience anymore to run around in a big store to find items that I do not often buy. As an example, for all my plumbing stuff I go to a small store close by, pay a couple of dollars more but buy quality products and the person at the counter has all the knowledge that I need."

This new approach to merchandising is paying off for Canadian Tire. Hockey and camping gear sales jumped 140 per cent from a year ago. Auto accessories have more than doubled.

Smaller, local retailers can learn a lot from national chains that are investing millions into store design. You may be positioned to do even better on delivering the personalized customer service that drives customer loyalty and margins.

Full disclosure: we both live in old houses, so we are regulars at Canadian Tire, Home Hardware and Home Depot, but we make a point of supporting small business whenever we can. We'd love to hear your comments.

Related Articles
  Get More Clients by Being Remarkable and Different
  Stay True to What Works!
  Do This and Lose Sales
  Mirroring Your Mentor’s Success
  Is ABL lending And Banking the Fountain of Youth Of Business Financing ? Financing Via Asset Loan Lenders

Home > Marketing > Liz Walker > How Copying Canadian Tire Can Help Grow Your Small Business Big Time
Article Tags: auto accessories, auto care products, camping gear, canadian tire, case tools, destination section, fashion boutique, home storage, impulse, latest trends, meal ticket, national chains, new approach, patience, patronage, plumbing, power aisle, quality products, shoppers, shopping experience
Referred by: http://www.makingprofitspour.com

About the Author: Liz Walker
RSS for Liz's articles - Visit Liz's website

Ken Burgin and Liz Walker, Authorized Duct Tape Marketing Coach and Certified Marketing Automation Coach, are the Marketing Masters. They have written for small business for over 20 years and are the authors of This Man Wants to Wreck Your Kitchen and other business building tips from the Marketing Masters.  The Buzz is a monthly ezine for small business owners who want simple, effective, and fun strategies to get more business, guaranteed. Sign up for free tips at www.marketingmasters.ca and download practical, free reports too.


Click here to visit Liz's website
Dashed Line

More from Liz Walker
Writing a Successful Sales Letter
The NeverFail Recipe for Ads That Work Like Crazy
What to do with a cold lead
How to Thrive in Times Like These
Dont just sit around on the Internet put your web site to work


Related Forum Posts
My entry My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
How would you segment "Green Consumer"? How would you segment "Green Consumer"? - I am working on a small marketing communication strategy for environmentally friendly cleaning products, which are already available in the GTA. They are sold at major retailers like Sobey's and Canadian Tire currently. I am having a difficulty coming up with the characteristics of the "green consumer". Typical demographic factors (age, income etc) seem too general for this category. How would you segment different groups of environmentally friendly consumers? Ryann
re: restaurant start-up re: restaurant start-up - I'm not sure about government grants for restaurants, but my recommendation would be to approach a lender that offers loans under the Canadian Small Business Financing Loan program where the government will guarantee 85% of the loan. You can borrow up to $250,000 to finance equipment and renovations under this program. Restaurants are very risky business, however some of the Chartered Banks will look at restaurants if there is enough of an initial equity investment and you have a solid business plan (experienced management team, good concept and strategic location).
These maybe the coldest franchises out there: These maybe the coldest franchises out there: - Here are the worst 15 performing franchises in regards to having the highest Small Business Administration (SBA) loan failure rates. The list is dotted with sub sandwich shops, fitness centers and car shops. WORST FRANCHISE LOAN FAILURES Failure % 1 OBEE'S SOUP SALAD SUBS 55.56% 2 LADY OF AMERICA 41.94% 3 COUNTRY CLUTTER (BED & BREAKFAST) 41.18% 4 COPY CLUB 36.36% 5 ALL TUNE AND LUBE 35.71% 6 PICKERMAN'S 35.71% 7 PHILLY CONNECTION 35.59% 8 ROLY POLY ROLLED SANDWICHES 34.78% 9 COTTMAN TRANSMISSION 34.48% 10 HAIR COLOR EXPRESS 33.33% 11 LEE MYLES AUTOMOTIVE TRANSMISSIONS 33.33% 12 GODFATHER'S PIZZA 33.33% 13 SMOOTHIE FACTORY 33.33% 14 BLIMPIE 31.39% 15 GOLF U.S.A. (RETAIL GOLF EQUIP.) 30.77% Source: Small Business Administration, SBA Loan Performance Within Franchise Code for the Period of FY 2001 - 2005
Exclusive: Interview with Results Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.



Featured Article


Bottom Footer
Share for a Cause












Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Name:
Email:
Popular Articles

Email Marketing Made Easy #11 - Avoiding Spam

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.