Operating a School Store
When considering opening a school, selling school merchandise, think about why your school should embark on such a venture. Well, it's a "win – win – win" situation!
Raise Funds
Opening a successful school store can help tremendously in reaching your school's fundraising goals!
Convenience
A school store provides students with a place they can always get needed supplies.
Teaching Tool
Operating a school store can be a valuable teaching tool. Students learn responsibility that comes with organizing and tracking sales, inventory, purchasing, and profit margins.
So, once you decide to open a school store, what are the next considerations?
Location
Whether your school store is a small room, a rolling cart, or simply a table, locate your store in a high-traffic area. In or around the lunchroom is ideal! Just make sure to have a place to lock up merchandise for the night.
Advisor
Typically, a PTA member or teacher can be enlisted to head up the program.
Hire Students
Announce to the school that applications are being taken for students who wish to work in the store. Depending on the size of your school, you may need several people to run the store or just one or two if your school is small.
Product Supplier
These days, it is more important than ever to spend your dollars wisely. There are several companies that offer quality merchandise at competitive prices e.
Product Line
Start out with basic supplies such as pencils, erasers, sharpeners, paper, and notebooks. Student employees are a great source for determining which products to sell – kids know what kids like!
Listen to teacher suggestions. They have definite ideas about what students need for the classroom.
Definitely think about adding custom imprint items to your store. Get your school name and mascot printed on pencils, dog tags, or zipper clips. They are terrific sellers and exclusively yours; your customer can't get them anywhere else!
The product company you select can suggest some product "best-sellers." Be pro-active and reorder your best sellers in plenty of time. Also, refresh your product line with new merchandise to keep customers coming back to see what's new.
Attract Customers
You already have a school full of customers. All you need to do is bring them in!
Bring in the business by advertising over the school intercom and hanging posters around the school. Hand out flyers promoting product offerings. You can even hand out coupons for a free pencil just for visiting the store.
It's important that you post clearly the hours the store will be open and the location.
Be sure to decorate; use balloons and streamers and maybe a school banner for the grand opening!
Become a hub. Make your school store the "go to" place. Post a school calendar with events and important dates. Sell tickets to school dances or football games through your school store.
Don't forget the parents. Parents can be a huge support for your store. Send home product order forms featuring long-time favorites such as custom school bumper stickers, water bottles, stadium cushions, and other spirit-boosting merchandise.
Keep Customers
There are lots of ideas for attracting customers, as keeping them coming back is crucial.
Store employees should always provide knowledgeable and courteous customer service.
Product selection and stock should be monitored on a regular basis.
Choose convenient times for your store to be open and be consistent with those times.
Build a relationship with your customers, and they will come to rely on the school store as a good shopping source.
Finally, once your school store is up and running, it's time to tend to business. Keeping accurate records of inventory purchases, product sales, and store are critical elements to running a successful school store.
Track Sales
Use a cash register or a calculator (preferably with a running tape) to keep track of sales. Every morning, count the money you start with. At the end of the day, count the money you end up with. Invest in a locking cash box to keep money secure.
Take Stock
Check inventory levels daily or weekly depending on your school store traffic. Pay attention to top sellers and everyday products. Reorder in plenty of time to avoid running out of popular merchandise.
Do the Math
Have a profit margin goal and make sure you are meeting those goals by maintaining your gross profit margin:
*Gross Profit = Selling price minus the cost
*Gross Profit Margin = Gross profit divided by sales
Stick to these few simple procedures and your school store will be easy to manage!
This article is courtesy of StudentSupply.com, which offers special merchandise for your school store and fundraising events.
