How to Begin a Career in Retail Management

(Find Out More and/or Enrol for this Accredited Course)

Do you enjoy working in sales? Are you comfortable dealing with the public on a daily basis and meeting new people? Do you thrive in a fast-paced environment with a high degree of responsibility offering a challenge and advancement possibilities? If this describes you, you may be interested in securing a career in retail management.

Retail managers have numerous responsibilities, which include the day-to-day management of a retail department or entire retail store within specified company policies and procedures. The manager must ensure that the store reaches targeted sales goals and higher profit margins. Retail managers are responsible for soliciting and retaining customers, maintaining high quality staff, and excellent customer service. They are also responsible for handling inventory, supplies, health, safety, and security issues as well as any complaints or questions regarding the business.

Formal education in the retail management industry will prepare you for a career in this exciting and rewarding field. Courses of study will teach you how to develop and recognise skills of your staff by being able to assess the competency of each employee and implementing staff training. You will need to develop management skills, which include recruiting and selecting personnel, how to communicate with your employees, delegating responsibilities, setting team goals and how to achieve them, evaluating employees and giving performance appraisals as well as controlling risks by providing safe work environments. Course material should cover the ins and outs of store operations, which include managing financial resources such as, control systems, budgeting and accounting systems, inventory control, security, theft, and loss.

There are numerous positions you can work in after achieving a formal retail management education, which include but are not limited to retail manager, operations manager, sales manager, retail buyer, and merchandise manager. Many of these positions have excellent advancement possibilities. Your career options are many and limited only by the goals you set for yourself.

Salaries for retail management positions vary depending on the size of the business and their overall revenue. For example, a small corner store will not be able to pay their managers as much as a larger retail store located in a large shopping complex or mall. Average salaries for retail management positions can range from the lower end mid to upper $20K's to higher end salaries that soar to $100K plus (based on Dec 2009 figures).

Programs to obtain formal qualifications are available at local colleges and universities as well as online to best suit your budget, lifestyle, and the amount of time you have available to devote to course study. The most common types of programs offered in retail management include certificate programs, diploma's, advanced diploma's, an associate's degrees, and a bachelor's degree. For on campus programs, consult your local community college or university for a list of available courses and curriculum. If you need more flexibility and freedom in your studies then there are excellent online resource offering retail management programs in home or by distance learning.