SS1 First Term Commerce Lesson Note – Home Trade II

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WEEK 10

SUBJECT: COMMERCE

CLASS: SS1

TOPIC: HOME TRADE

CONTENT:  

• Factors to be considered in setting up a retail trade.
• Classification of retail trade i. Small Scale retailers ii. large scale retailers
• Reasons for survival of small scale retailers

SUB TOPIC 1: FACTORS TO BE CONSIDERED IN SETTING UP A RETAIL TRADE.

1. Capital: This is a very important factor that must be put into consideration before setting up a retail trade. The amount of capital will determine the size of the business.
2. Price policy: The retailer must put into consideration the selling price of the product. The best price policy must be determined.
3. Source of supply: The retailer must determine the source of supply so as to maintain constant supply.
4. Type of goods: He must consider what he wants to sell. He should prepare his mind on the type of goods to be sold.
5. Experience: The retailer must have acquired some skills on the field he wants to operate e.g electronics business, provision etc.

SUB TOPIC 2:  CLASSIFICATION OF RETAIL TRADE

Retail activities can be classified into small scale and large scale as represented in the diagram below                                                           

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