Looking at newsagency businesses that are growing, I can see several common interesting attributes, including:
- Minimal or no backroom office. Product pricing and related work is done on the shop floor.
- Good use of tech with accurate, up to date and meaningful business data.
- Regular introduction of products from new suppliers. Typically, between 5 and 10 each year.
- The owners have a personal goal and a clear purpose for the business.
- They are retailers, not agents.
Now, there are plenty of other common attributes, but these are the most interesting to me in that they reflect active engagement in the business. Each attribute reflects a conscious decision by the business owner(s), the last point especially.
I know of plenty of long-term newsagents who have pivoted form the agent approach that was required when they entered the business to be the retailers they need to be today. It’s a thrill to see this, and the success that so often flows.
All of us who own newsagencies make our own choices, we are responsible for our success or otherwise. No one can do this for you, force you, or make your bed for you each morning. It’s up to you.
There are many who support newsagents who can help. It begins with you reaching out.