You should think about transitioning employees to the contractor. You should also include the contractor buying your saleable inventory as well as merchandise that is on order. You should think about having approval rights of merchandise being carried in the shop since it represents your brand. Lastly, you should have approval rights of the manager […]
Read MoreWe believe that some kind of retail merchandise option can be developed for most institutions. Having a shop can enhance the visitor experience, deepen ties to the institution, increase the length of stay, and may stimulate cafe sales. Smaller institutions can consider a simple kiosk or mobile cart that is weekend or seasonally programmed.
Read MoreThe best location is one the visitor sees upon entry to the venue and/or exit out of the venue, The shop should also be accessible to the visitor without buying a ticket to the institution. Some shops generate significant volume from visitors just wanting to shop, especially around holiday time. Additionally, if the shop can […]
Read MoreIt depends on whether there is an investment requirement, the start-up cost, and the volume of sales activity. A contract with no investment might be as short as 3 years. The average in our practice is 5-10 years. A contract with significant investment might be 10 years plus. Regardless of the length of the contract, […]
Read MorePercentages paid are dependent on sales volume and capital investment proposed. The higher the revenues the higher the percentages. For sales levels of around $2M, commissions tend to be in the mid-twenties range.
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