Reasons Your Business Should Not Rely on a Sale or Promotion
As most small business owners know, a sale or promotion is an event that is celebrated by most retailers to start off or end a season. Such events have the potential to be to be extremely profitable, but most often just for the nationwide chains. They have the ability to discount products, slash prices, and spend an enormous amount of money on advertising. These national chains make it their business to beat out any competitor, including you.
By having such a presence, the national chains make it difficult for any small business owner to come out on top, especially during peak seasons. Being a small business owner can mean that you need to think on a smaller scale. Trying to outdo the big box stores is next to impossible. Without the capital to advertise big, discount products drastically, and increase your customer base to match these chains, then you are fighting a losing battle at any time of the year. Many small business owners opt out of celebrating any big sales events because they simply cannot compete.
Today, the big box stores have started to advertise sales before the season even begins, making it even harder for you to capitalize on any sale or promotional event. You may have noticed that Halloween is usually skipped to begin the Thanksgiving and Christmas rush. And most big retailers forget the Spring season completely and jump right from Winter into Summer. It’s not enough that they run in-store sales, they also have a huge presence online, on television and through postal mail, allowing them to corner every market possible. Dominating the industry, the national chains are making it harder and harder for smaller businesses to stay afloat. Because of this, smaller businesses should not rely on a sale or promotion to turn a good profit. It is just too hard to compete with the larger competition.
Small businesses should appeal to the community by providing a great product at a reasonable price, but with the type of service, the national chains cannot provide. Small business owners have the opportunity to build a relationship with their customers. Be a store that takes care of each person that enters. Look out for the customer's needs. Provide that personal touch that keeps each customer happy. You may be surprised how often a customer will return if they know they can avoid the hassle of a shopping mall, and still get the product they need with great service and a smile.
Creating the perfect atmosphere for those who enter your small business can be costly. If you don’t have the working capital you need to provide that experience, don’t worry. You can always get the help you need with small business funding. With the rapid and easy cash available, you will be able to hire the employees you need, stock up on the product you want, and provide the service each customer will appreciate.