Question: After 11 years, we’re still a struggling gift shop. We had some eight years of good business but three bad years. There was a year when we thought we’ve finally made it. That was the year when our son got us into online selling. But after less than a year, we were back where we started. Our son couldn’t tell us why. He said his college subject didn’t cover this problem.
These past two years were really bad, especially during the Christmas season.
Christmas or December used to be our best month, accounting for as much as 30 to even 40 percent of our annual sales. Our son kept telling us that his college marketing class prescribed that we should expand and be more than just a gift shop. Those are nice words to hear, but my husband and I are wondering how we can become more than just a gift shop.
We’re regular MRx column readers. Our son says if we ask you, you’ll say the same thing that he’s telling us regarding how to grow our business. So we thought we’d ask you. Please help.
BUSINESS
BUSINESS
BUSINESS
Answer: Your son is partly right. I will start by saying that you may want to be more than just a traditional gift shop. But I won’t stop there. I’ll add a few more specific MRx’s.
Let’s begin with a diagnosis. Among other things, growing your gift shop business is about changes. But because there are so many changes around, you have to learn what particular changes to go after.
