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  • #982128
    johannpsaila
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    Hi all,
    Need some assistance in regards to my current Bussiness, any one who may or may not know me I own a tattslotto / news agency in Melbourne west.
    Pros about our Bussiness:
    1) allot of foot traffic 2) customer love lotto grown 30% 3) good team 4) shopping centre upgrade 5) just got my rent reduced by 50% 6) our demographics are first home buyers and plenty of new borns 6) my wife and three staff run the store and I work full time some where else
    Cons:
    Q1) retail side of the Bussiness is quiet traditional items such as card, gifts and stationery are dead

    It’s a great Bussiness but allot of the retail products are not in demand, so rather then waiting for things to change I thouht “just now” lets change our Bussiness model.

    I was thInking from changing our store to a tatts lotto & (not sure) store vs news agency type

    I would also look at creating a online store as well so it will be two Bussiness within the store, one tattslotto and some thing else and also have an online arm as well

    I just have no idea what to change or what product to move into!!!
    Any thoughts!!!

    Cash flow is good and I don’t mind spending a few k on a new way

    #1135116
    Divert To Mobile
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    Hi johann,

    I think your customers walk in get the ticket and walk out. Great, lots of people high turnover. What else would that demographic of people be interested in?

    Service stations have similar flows of people, in for fuel pay and leave but what are they doing to increase sales?
    I see service stations in sydney with strange impulse items like, beanies in winter, remote control toys, blowtorch lighters etc.

    Steve

    #1135117
    Zava Design
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    I like Steve’s idea, go and research some of the more successful service station stores, and see what they have in common that seems to be working. They would seem to be close to your kind of business model, and the big brand ones would have done a lot of research into this area I’m sure.

    Though take out the hot food aspect, that’s one area that’s a little different, you would probably have food stores around you. But the rest is all focused on “impulse buying”, and with products that work, exactly what you want to target.

    I’m jealous now, in a way you have free market research that’s been done for you, all you need to do is spend a little of your own time to go and research what they’ve implemented, I reckon it’s a no brainer.

    #1135118
    WhatsThePlanDan
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    Hi Johann,

    Some great advice from Steve there.

    What about asking your customers? If you mentioned that you are trying to find a way to improve what you are offering then I’m sure you can find some who are willing to spend a few moments and give you some information on the kinds of things they’d like to be able to get while they are in your store.

    And congratulations for thinking about this – there are a lot of newsagents around the traps that I’m sure will be having big problems in the next few years if they don’t start changing their business model in some way with most magazines and newspapers going online.

    Oh – and just popped into my head – what about gift cards? I know my local Post Office has a huge display of a range of different gift cards you can purchase. Maybe this could be something you could do also?

    Cheers
    Daniel

    #1135119
    johannpsaila
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    Divert To Mobile, post: 153772 wrote:
    Hi johann,

    I think your customers walk in get the ticket and walk out. Great, lots of people high turnover. What else would that demographic of people be interested in?

    Service stations have similar flows of people, in for fuel pay and leave but what are they doing to increase sales?
    I see service stations in sydney with strange impulse items like, beanies in winter, remote control toys, blowtorch lighters etc.

    Steve

    Mate what a great Idea and thank you so much for your input,
    I will go to petrol stores like United Fuel (Great branding), BP, Seven 11

    My only concern in this, We have some impulsive items within the store, but its very on and off, I have noticed allot of people cutting back on impulsive items as well. I have a friend who owns a 7/11 and he is experiencing the same thing.

    I think a question I could ask you is this, When was the last time you bought an item at a servo?

    What my thoughts are is to start a new line or business within the shop. Something that is a NICHE around the area and some thing we can do online as well. Impulsive items are great for a few dollars here and their but im looking at something to grow as well.

    Any thoughts!!!

    #1135120
    johannpsaila
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    Zava Design, post: 153791 wrote:
    I like Steve’s idea, go and research some of the more successful service station stores, and see what they have in common that seems to be working. They would seem to be close to your kind of business model, and the big brand ones would have done a lot of research into this area I’m sure.

    Though take out the hot food aspect, that’s one area that’s a little different, you would probably have food stores around you. But the rest is all focused on “impulse buying”, and with products that work, exactly what you want to target.

    I’m jealous now, in a way you have free market research that’s been done for you, all you need to do is spend a little of your own time to go and research what they’ve implemented, I reckon it’s a no brainer.

    Thanks for your comment as well, There is allot of free research and I think spending time at servos is a good idea… I can implement some new products that may be a bit impulsive but the only thing that conerns me is that you are relying on foot traffic for customer to buy products.

    But I need to implement something into the store that can draw new customers!!!

    #1135121
    johannpsaila
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    WhatsThePlanDan, post: 153793 wrote:
    Hi Johann,

    Some great advice from Steve there.

    What about asking your customers? If you mentioned that you are trying to find a way to improve what you are offering then I’m sure you can find some who are willing to spend a few moments and give you some information on the kinds of things they’d like to be able to get while they are in your store.

    And congratulations for thinking about this – there are a lot of newsagents around the traps that I’m sure will be having big problems in the next few years if they don’t start changing their business model in some way with most magazines and newspapers going online.

    Oh – and just popped into my head – what about gift cards? I know my local Post Office has a huge display of a range of different gift cards you can purchase. Maybe this could be something you could do also?

    Cheers
    Daniel

    Hi Daniel,

    It was weird last night, I have not checked into this site for a while but some thing was lingering in my mind and saying this, do not do things like the other people are doing, I have been talking to a few retails and I hear the same things every day its quiet, blah blah blah, so last night in bed it just hit me, CHANGE IS NEEDED.

    Its funny we do very well with magazines because we are located next to a retirement village, we have gift cards and they have slowed down allot as well, lollies, slowed down, dry cleaning allot of people lost their jobs in the area so their for dry cleaning is not needed as much.

    What I need ti implement is something that will draw more people in the store and also offer an online service a well.

    Build a brand around my store……

    #1135122
    Divert To Mobile
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    johannpsaila, post: 153808 wrote:
    Mate what a great Idea and thank you so much for your input,
    I will go to petrol stores like United Fuel (Great branding), BP, Seven 11

    My only concern in this, We have some impulsive items within the store, but its very on and off, I have noticed allot of people cutting back on impulsive items as well. I have a friend who owns a 7/11 and he is experiencing the same thing.

    I think a question I could ask you is this, When was the last time you bought an item at a servo?

    What my thoughts are is to start a new line or business within the shop. Something that is a NICHE around the area and some thing we can do online as well. Impulsive items are great for a few dollars here and their but im looking at something to grow as well.

    Any thoughts!!!

    Your right, I dont do much shopping in a servo and I think that trend your talking about is bringing about changes in that industry too. Im seeing many coffee shops sharing space within a servo.

    Re: your friend with the 7/11, Im interested to see if hes also noticed a steady decline in fuel sales. WOW and Coles are offering 8c off fuel these days. I can imagine coupled with the cost of fuel non WOW/Coles servos would be suffering.
    But that might be coming to an end anyway. Here

    Steve

    #1135123
    Zava Design
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    How about offering a place for local designers/artists to sell items?

    ie. handmade gift cards

    Could range from cheap items, to a few bigger ticket items.

    #1135124
    James
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    Although I imagine the Lotto side of the business is pretty consistent, you could try and get that turning over even more through email or text marketing.

    Give any buyers a free lotto line, or a free scratchie (they would probably love that) – in exchange for their email address and mobile number. Then hit them with a reminder the night before or morning of a lotto draw to get them into the store.

    I might be wrong but my gut tells me the generation that plays lotto might not have an email address, making mobile numbers more important. And if we are talking about the much older; they actually like this communication. Getting a text is a rarity so will get that extra bit of attention if it seems personal.

    #1135125
    MH08
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    There are a lot of avenues to your business, for instance; (without knowing the rules in place from your suppliers).

    • Find all the dentists, doctors, vets, anywhere there’s a waiting room and see if the business will subscribe to a newspaper run or magazines through you at a discount.
    • Sit back on a hard day, and watch what every body else is doing, see what people are reading, or writing with? I think stationary is almost faded out other then when your in the office.
    • Check on a competitor and do what they are doing but better.
    • Make it child friendly, once the children walk in, train staff to hook in the parents.
    • Upsell your products, even combine them together.
    • Tell people that you have a new product in, even though its 3 months old, subway are notorious for this, they offer new sandwiches and deals that have always been on the menu.

    Buffet used a very neat trick when he was a child, he wanted to buy soft drinks to sell but couldn’t find out which sold the best, so he went to a few rubbish bins and picked out the bags. Within the rubbish was gold, he was able to count all the lids that were thrown in the rubbish bag to find out which was the most popular beverage by dividing them all up.

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