This photograph captures the second location of my first newsagency in Forest Hill, Victoria. I acquired the business in February 1996 after the previous owner went broke. We moved because the landlord required us to relocate a few months after buying the business. This new location reflects the focus at the time on the newsagency shingle and using newspapers to attract shoppers.
The shop’s retail floor space was traditionally divided into thirds: one for papers and magazines, one for stationery, and one for cards.
We operated from this location for three years before being relocated to a new site in 1999, where we added Tatts lottery to the business.
In 2006, we sold the home delivery run—for the same price I had originally paid for the entire business—and six years later, we sold the entire business.
In the twenty-eight years since I bought my first newsagency things have changed considerably. I think, right now, the pace of change is faster that ever. I also think any are not noticing the changes.
I don’t recognise the business in the photo. It is so out of date in terms of what I consider a newsagency to be today.
None of my shops today have lotteries. Cards are allocated 20% of the floor space, magazines under 10% with the rest being taken by gifts, homewares, collectibles, books and other good margin products.
It’s valuable to look back and reflect on the journey from this perspective.