Take Advantage of Your LocationBy admin | 21st October | Marketing Ideas, Marketing Skills, Marketing Training
We met the owners of a newsagency yesterday who have a successful business, which has recently been threatened by a large supermarket opening over the road. The effects of this additional competition has meant the owners have felt the need to open on Friday and Saturday evenings until 2am. As a result, their family life has been impacted and they are exhausted.
Their customers are primarily office workers, who pop into the shop for chocolate bars, snacks and cigarettes and they have a fairly consistent turnover from that market, but it’s only just covering the bills. They have a sandwich shop next door and a restaurant on the other side; both of which also attract a lunch-time crowd.
The couple also have a block of 700 offices within yards of their door, in which no-one delivers sandwiches, coffee or newspapers. This untapped market could massively boost their profitabliity and negate the need to open at weekends (or could fund a member of staff to cover those late shifts.)
Often, as business owners, we only see the area that we control. But, if we look outside and think more broadly about potential customers, we can find a huge amount of opportunities, right on our doorstep. Why would you travel further?