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Transforming your newsagency business: A step-by-step guide fresh start in 2025 for your newsagency

If your plans for your newsagency in 2025 are transformation of the business, I am writing this for you. It’s a simple to follow guide for transformation, a safe guide that anyone can follow.  The advice I’m sharing here comes from years of experience helping newsagents like you transform their businesses.

Understanding your business through your own data

Having a clear picture of your business’s health is crucial for taking steps forward. This involves looking at your business from various angles. Here’s a checklist to get you started:

  • Up-to-date profit and loss statement
  • Current debtors and creditors reports
  • A list of all business debts, formal and informal
  • Stock listing showing total stock value
  • Dead stock listing (items with zero sales in six months or more) with their total value
  • Floor map showing the gross profit percentage contribution by product department/category and floorspace allocation
  • Total rostered hours in a week, including owners (paid or not), and a revenue per hour calculation
  • A revenue comparison down to the category level, comparing the most recent six months with the same period a year earlier

Just wanting to transform your business isn’t enough. You need to understand your current standing and your capacity for change. This data will provide insights into immediate opportunities and the resources available to finance the transformation. This list is the foundation for any business transformation journey I embark on with clients.

Analysing data and taking action

Once you have this data pool, my recommendation is to find some “easy wins” to set the stage for productive focus. For instance, if you have $10,000 or more in dead stock that’s been paid for, get rid of it! The freed-up cash and space will be a big boost. To clear this dead stock, designate a special clearance area, like a table or two, and offer a flat discount on everything there. My suggestion is a 50% discount.

While you’re clearing out dead stock, analyse the remaining data to understand your business’s current performance. Look at the comparison report for any promising opportunities related to your existing business categories. This could be a simple first step to get you started.

As you work through your data, create a list of ideas and action items. You might discover some easy wins you hadn’t noticed before or had been neglecting.

Who should guide you?

Some retailers I’ve spoken with consider using their accountants or business consultants for business transformation or improvement. While they can be valuable resources, in my experience, unless they have current hands-on experience in the newsagency industry, their guidance might not be as effective.

The point here is that it’s your business. You’re looking to make a change, a transformation. The next steps are yours to take, and it’s best if you take ownership of them. This way, you’ll be fully invested in the changes you implement.

Getting your business match fit

This initial step involves data gathering, streamlining operations, and getting your business in top shape. It’s all about preparing you for the more significant changes to come.

But what if your current business data isn’t in good shape, and you’re eager to start making changes right away?

Transforming your newsagency with limited data

If you’re set on transforming your newsagency but your data isn’t up-to-date, there are steps you can take on the shop floor to initiate change. In my experience, businesses in this situation often have a traditional shop floor layout.

The advice I’m providing here focuses on disrupting your current setup. I’ve found that this can help retailers see things from a fresh perspective. It’s a radical approach designed to shake things up in your business. Remember, though, that retail is an ever-evolving industry, so continuous adaptation is key.

Disrupt your layout.  If you have a traditional magazine fixture running down the centre of your shop, with newspapers displayed prominently at the front, take all the stock off and remove the fixture entirely. Don’t overthink it – just rip it out! Move papers to the back of the shop.

Make the shop warm. If you have traditional retail fixtures on the shop floor, remove as many as you can and replace them with everyday items, tables and the like that you find on secondhand marketplaces. Use a rug on the floor to enhance warmth.

Stock what you’d never stock. Find one or two product categories yould never stock in your traditional business. Playing like this way outside what’s usual can help you see what’s possible and this is what can really get you thinking about transformation.

This list is not complete. It;s designed to give you an easy starting point.

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Newsagency management

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