Business people engaged in retailing purchase goods in large quantities from manufacturers and resell them to end customers at a profit. Retailing which is one of the most important links in the supply chain is also a fast growing segment of the economy. Retailing industry provides the customers a convenient way to shop for almost everything: clothes, shoes, cutlery, food items, appliances, and electronics. Aspiring entrepreneurs eager to manage their own business are often attracted by the retail industry as it offers a wide variety of business options to choose from. Some businessmen operate store-based retailing in fixed point-of-sale locations like convenience stores, department stores, supermarkets, etc. Non-store retailing which includes online stores, television shopping, vending machines, mail orders, etc. which also offer an array of lucrative opportunities. Retail ownership can be highly rewarding, but it is also very challenging. These businessmen have to coordinate the activities related to marketing, management, human resources, sales and accounting themselves. They should possess high self-confidence and the ability to take risks to embark in this direction. Individuals who can perform efficiently in high pressure environment and are willing to put in irregular hours of work have it in them to become successful retail owners. Read on to know about the life and works of various famous retail owners from all over the world.
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