There is a new business in our urban village and I really hope they are successful. The owners have taken a shop at the end of the “main drag” and we have a new florist. It is quite a good position for passing trade. I bought a pot plant from them which was on display outside the shop, and perhaps the position will suit a florist more than the other businesses that have occupied that shop. Oh, yes, there have been quite a few.
It is important for any new business owner to do their “homework”. How much is the rent? Will the turnover sufficiently exceed the running costs to make a good enough profit for a “living wage” for the owners? How well connected are they to encourage visitors from outside the village to pick up the telephone and order from them? Have they thought about networking? Can they crack the corporate market and supply flowers to office reception areas? Any long-term contract can be very lucrative for a florist.
Being specific, the shop now occupied by the new florist has previously been occupied by two different estate agents and by a bookseller, all within the past five years. One would have thought that passing customers or “footfall” might have been quite good, but those businesses have gone.
I can see one big obstacle for our newcomers. There is already a very well established florist in the village by the entrance to the main shopping car park. That florist is very good, and my wife and I have bought from them on many occasions. Our customer loyalty tends to be towards them, naturally enough.
I do hope there is enough custom locally to support two florists well, so that “The Failure Shop” no longer has that title in my mind. The owners seem like nice people, and I wish them well. They will have to go several extra miles, but maybe they can.