It is important to open your retail business in the morning at the right time. The right time the time from which it is financially viable for you to be open.
Historically, newsagencies have opened early … 6am often, 5am in country town locations, even earlier.
Look at your data, track your revenue and gross profit. Consider other tasks that are done in the early hours. It could be that you can trim your hours without any significant negative impact on the business.
Years ago in a newsagency I owned we moved fro a 7am opening to 8am. Some customers complained, saying they would never shop with us again. Few who complained acted on their complaints. We cut labour costs by $150.00 a week. The GP for sales in an average week for that first hour tracked at less than $100.00. The decision made sense.
This is how to look at your opening hours, though the numbers. Even if your decision ultimately is to not change your hours, it is valuable to run the numbers, to make an assessment based in the facts.
Mark, I adjusted opening and closing hours last year and the Tower sales by 30 minds data was invaluable. However, I recall whilst it was great at separating out the low margin lottery at the end of the day I was less confident about the beginning of the day, when high margin sales took over from low margin papers etc.