HOW TO RUN A PROFITABLE RETAIL BUSINESS

Join BBI on July 7 and 8, 2026, for the Essentials of Retail Management Training and learn the fundamentals of running a profitable business
About this Event

Running a profitable retail business doesn't happen by accident, it's built on the right foundations.

This program is custom-designed for entrepreneurs and is open to businesses in Canada.

Sponsored by the Black Business Initiative, it is designed to support African Nova Scotian and Black-owned businesses while welcoming applications from all eligible participants.

The David Sobey Retailing Centre, along with the Arthur L. Irving Entrepreneurship Centre, at Saint Mary’s University are pleased to offer this training program.

Program Content and Objectives

Whether you're just starting out or exploring a new venture, this beginner-friendly training will give you the knowledge and confidence to succeed in retail.

No information overload, just practical business advice. Each session provides hands-on learning, useful resources and actionable steps to help you move your business forward.

Delivery Format

The program is delivered over two days.

In person: sessions will be hosted at the Arthur L. Irving Entrepreneurship Centre.

Online: Hybrid stream available for those who aren’t able to attend in person.

You will be asked to select your preferred delivery method during registration.

Session Topics

Training will be delivered by members of the Arthur L. Irving Entrepreneurship Centre such as Michael Sanderson, Meredith Drost, Jason Turner, Brennan Daley, together with the David Sobey Retail Centre team and integrated retail industry partners.

Sample topics will include:

Day One

Applying Innovation to Your Business

· How can you reach your goals by thinking innovatively?

· Approaching customer problems with human-centered design

· Identifying and taking advantage of market gaps

What Success Looks Like (Goals, Objectives & Your Brand)

· Define what success means (income, learning, exposure, testing ideas)

· Setting 2–3 simple, realistic goals

· Brand basics: what you sell, who it’s for, and the feeling you want to create

Who You are Selling To (and Why They’ll Choose You)

· Identify your main customer type in an airport setting

· Understand when, why, and how they buy

· Decide what makes your store worth stopping for

What You Sell – Building the Right Assortment

· Choose products that fit your goals, brand, and customer

· Decide which products are “must-haves” vs. optional

· Picking the “heroes”

Making Your Store Easy to Shop

· Create a layout customers understand in seconds

· Use product placement to guide attention

· Keep displays simple, tidy, and easy to manage

Day Two

Visual Merchandising

· More than just an aesthetic

· Targeting customers

· Allocating Space

· Profit protection strategies

· Signage

Pricing that Makes Sense (and Makes Money)

· Price products to cover costs and earn a profit

· Use simple pricing rules customers understand

· Know which items drive sales vs. profits

Promoting Your Store on a Small Budget

· Use signs, visuals, and location to attract attention

· Communicate one clear reason to buy

· Encourage impulse purchases and repeat visits

Running a Profitable Business

· Track sales, inventory, margins and cash simply

· Understand basic profitability and break-even

· Build weekly habits that keep the business financially healthy