This week I am going to publish a different reason each day on why a newsagency is a good business to buy – in no particular order.
#5 you are trusted by the community
Ask anyone on the street to rank retail businesses they trust and I bet newsagencies rank high on the list. People trust us.
They come to us for advice on all manner of things from pens to use in certain situations, glues appropriate to a task, how to get a magazine on a particular topic or what card to give in an unusual situation.
They come to us for help – like where some place is in town or how to deal with a tax matter or even how to deal with an everyday situation.
We are approachable as in most situations the person who owns the business is the person working in the business.
Trust is bankable. This trust is something we can build on as we transform our newsagencies.
To anyone thinking about buying a retail business I’d say – for trust, it is hard to go past a newsagency and the newsagent running it. The bond between newsagent and newsagency employees and customers is deep and difficult to copy. This is a bond, a trust, you can trust. It’s another thing which makes our businesses good to buy.
All of us in this channel need to work on respecting the trust we have and nurturing it for the future.
Newsagencies are good businesses to buy. We newsagents need to do more to demonstrate that this is the case. It starts with us making our businesses more appealing and is assisted by stories we tell about being a newsagent.