Armaggedon on the High Street

[Esk247]

What do you think should be done, (in Margate, where you live or anywhere)?

I'm not paid £350 per day plus expenses to work that out :|

Freebie....Councils should use their ability to 'prefer' a mixture of retail/foot outlets instead of just accepting the current trend of 5 kebab shops in a row with a bookie on either side. Casinos have to go through a series of planning applications before they can open up, yet places like Ladbrokes or Coral can open up several shops on the same high street to ensure they sift out as many passers by as they can. This may be very good for that particular business but it is detrimental to the high street as it reduces disposable income for the other retailers and they seem to get around planning law regarding their signage....they can have the most atrocious neon signs shoved up yet a cafe opposite cannot put an A board up with a menu on? :|

According to the Daily Wail:

http://www.dailymail.co.uk/news/art...uncil-launches-court-bid-prevent-opening.html

Bookmakers have swamped the UK's shopping parades – with numbers up 25 per cent since 2008 - and in one London borough, Newham, there are currently 82 - six per square mile.

http://www.independent.co.uk/news/u...rt-upholds-appeal-by-paddy-power-8662466.html

Councillor Ian Corbett, executive member for environment, described current legislation as "toothless in dealing with the clustering of betting shops and the proliferation of high stakes gaming machines".

 

[Esk247]

As businesses, Tesco and Ladbrokes etc are very successful models..hats off to them...but at what cost to the high street?

I don't think the high street has been killed off entirely by the web. That's not true. It's the identikit high streets that have killed themselves off by inviting generic retailers in with generic products that you can buy online cheaper.

Lots of independents stock products that you cannot buy online but they're surrounded by chains who still haven't quite grasped that they're twice as expensive as the nearest alternative..the internet.

 

[Nuno]

You don't have to be paid to have an opinion.
I was interested to see if you had a vision, a plan, or even a small scheme which would help rejuvenate the High Street.

Forgive me if I'm wrong but you seem only to have suggested giving control of what sort of shops are allowed to the local authority. They would then be able to discriminate against those shops they disapprove of.

I'm not sure if this would revitalize a High Street, although it might make them more pleasant for those who dislike bookies (and whoever else falls from grace). It could, I suppose, lead to even more shops selling scented candles, i.e. leisure shopping establishments which is a way forward. But how many can survive in a high street? (And at what saturation will the local council start limiting them too)?

I do in fact think a leisure shopping and residential mix is a possible way forward, as large retail parks and the internet, together, have changed the role of the high street forever.

 

[Doodle-Noodle]

In order for high streets to survive (in my opinion, anyhow) we need to remind potential shoppers that shopping is a social experience, not just a matter of pressing a button, sticking your card details in and getting what you want delivered to your door.

Years ago (when I was young!) Saturday was the day you went into town, met your friends, had lunch/coffee, eyed up the boys, mooched around in shops, spent your pocket money/paper round money etc and spent all day in town.

It was unthinkable that you wouldn't go into town (local high street as was) on a Saturday - and it wasn't only kids/teens who did that. Everybody did. It was heaving with shoppers.

Today's shoppers have of course moved on to a certain extent but if high streets were more user friendly (i.e. free parking, better public transport, nicer seating areas, affordable quality food outlets, shops with doors that opened and windows not boarded up) people would be far more inclined to do their shopping in person.

I simply refuse to believe that people don't want to interact with others, to see, feel, touch, smell, try on, sample what they may want to buy. You wouldn't go to a nightclub if you were likely to be the only person there ..... it's human nature to want to mix with others, we just need to try and remind people what they're now missing, and provide them with the facilities to enjoy it.

Simples

 

[Trisha&ChrisPlant]

It was unthinkable that you wouldn't go into town (local high street as was) on a Saturday - and it wasn't only kids/teens who did that. Everybody did. It was heaving with shoppers.

Yes, I remember those days too, Doodle. Heaving with shoppers it certainly was, I remember pushing through the crowds on a Saturday - you had to fight your way through....how times have changed huh!:redface:

 

[kulture]

Agreed. First step, free town centre parking. Thus giving people time to do everything.

 

[emmylou74]

The retail park in my town is like the new high street - it is always heaving with people walking round the shops there - and there are not that many shops in it. But it has free parking and people love that. I wish they would use one of the large retail shops there and split it up inside to allow smaller independents in. Surely that would make for a more enjoyable shopping experience for everyone there.

The high street is dying fast - a Saturday has fast become one of the quietest days of the week. We are getting another bookies opening up on it. The type of people coming into the high street are charity shop shoppers.

I also remember those Saturdays when the high street was totally buzzing. I also remember the queues building up outside the shops waiting for them to open. It would be so busy you wouldn't get time for a break - aaahhhh the good ol' days

 

[pen2670]

@esk - Just wondered what your opinion is on the pedestrianisation of Scarborough town centre? Seems to be being suggested in lots of places of late...

thanks

 

[Jeff FV]

Interesting discussion on "The High Street" today on Victoria Derbyshires Radio 5 programme.

You can listen to it here:

www.bbc.co.uk/programmes/b02xb0j5

Scroll forward to 1 hour 25 min for the start of the piece (about 30 mins of discussion.)

 

[silvermusic]

Retail is going through both an evolution and revolution at the moment, what's happened to the high street has just happened faster than it would have done naturally because of the crash in 2008.

At the end of the day the general public have voted with their purses and wallets how they want to shop. Much as I'm no fan of the big supermarket chains, they give the buying public exactly what they want. Same goes for the internet, personally the vast majority of my shopping I do online nowadays.

The High street and town centres are not going back to the way they use to be anytime soon. Once folk get their heads around that and move on the better. They need to change and adapt away from retail, I've seen in my own home town many side streets and edge of town small shops change to flats, offices, etc.

 

[David1962]

Agree with silvermusic, my comment earlier about coffee shops in the High Street with the rest residential, and and a few out of town supermarkets was a serious one.

I don't expect retailers to agree, but would it be such a bad thing for communities if 80% of High Street was converted to residential with a selection of eateries and maybe a small convenience store. Would it not bring back true communities with people socialising on their doorstep with neighbours again? People no longer know their neighbours because they no longer spend time meeting in the Post Office, Butchers, Bakers etc. They have to, generally, travel outside the immediate area where they live to eat, drink and now shop.

Is it not time to accept that people no longer shop as a leisure pursuit but just for necessity? So they will be going to the one stop quick shop and internet (not that I think the internet has hit the High Street as hard as many would claim, what is it now about 12% of all retail sales being purchased on the internet? That's not a High Street killing number by a long way, particularly when you consider what those sales actually are).

The High Street as we remember it has gone, perhaps it's now time to embrace the change and move on rather than have boarded up shops that are off no use to anyone.

 

[mhall]

The High Street is changing but Landlords don't want to change with it. The last thing they want to do is to convert the shops to residential - it means extra expense, more legal red tape, less rent and very few rent increases. The government doesn't want them to change because it means the end of lucrative Business Rate income.

I would happily welcome more residential on the High Street - wasn't there a mini campaign for houses above shops to come back? That faded away because of the above.

It's not Retailers holding back change- we welcome it in all it's guises as we can adapt to anything - as we have done for generations.

 

[warnie]

Things have been going downhill since labour, in the boom years decided to start a war on all car drivers. Cars were seen as the enemy that we must rid the high street of. They pedestrianised everywhere they could so people would have to either use public transport to shop, or pay unreasonable charges to park their car 1/2 mile away from where they need to be. In the meantime all out of town retail parks and shopping centres were able to keep their free parking and have everyone shop under one roof.

Most of us have little time as it is, so we automatically choose convenience. Especially when you get to keep dry and keep £2 or £3 pound in your pocket. As an aside, I also don't use my local asda much anymore, as you now have to pay to park. Yes you get the pound back, but when it's in bad weather I don't want to be messing about walking across the car park to the meter, messing about with that then having to display the ticket, when I can just go my local Aldi, park and walk in. Lazy I know but a lot of people do think this way.

I don't believe the internet has hit the high street as much as people make out. Yes the recession has, but the damage was already been done anyway. At least labour got their wish, as they're are fewer cars than ever blocking up our empty high streets.

We need to start embracing the car again and not seeing it as a way to raise extra cash. Business rates need to be looked at, but I doubt so many shops would be moaning about those if they had the footfall to actually make the money to pay them. All parking charges need to go. I for one wouldn't mind paying a couple of quid extra a month on my council tax to help fund it. Also the busier the high street, the more shops will be let out, so the council will make more on the business rates.

It all sounds so simple to me or do I see it different to most people?

 

[David1962]

Agree with all you say Warnie, BUT you have got one thing wrong.

Business rates are payable on empty shops so the government has no incentive to do any of what you suggest.

 

[warnie]

Agree with all you say Warnie, BUT you have got one thing wrong.

Business rates are payable on empty shops so the government has no incentive to do any of what you suggest.

Good point, and yes it makes sense...

Our small parade of shops are still busy day in day out because it's easy to park right out side for free, get what you want quickly and get on your way. So people do shop local if it's easy and convenient.

Why does it have to be so different on the high street eh?

 

[Esk247]

@esk - Just wondered what your opinion is on the pedestrianisation of Scarborough town centre? Seems to be being suggested in lots of places of late...

thanks

Pedestrianised zones are fine but where does one park? Scarborough isn't too bad with traffic and it works reasonably well but parking is still an issue for non residents who don't have permits. Especially on Saturdays and such. There's only two multi-storey car parks in the town and the spaces in those are smaller than a smart car.

The Scarborough park and ride is barely sign posted and even though I drive past it 3/4 times a month I've not seen it even half full....unlike the York park and ride which is blindingly obvious and has its own filter lane off the roundabout.

as for converting shops to residentials, it does happen from time to time but I think it needs to be handled with care. Places like Whitby, Scarborough, Thirsk, Cornwall etc all need shops in the centre for the towns to even be able to support new occupants. Without the shops..there's no point in having the towns at all and they may as well bull doze and fill in everything of any interest and just build residential tower blocks.

Certain city centre locations that are lacking housing and where there is limited benefit to maintaining retail outlets then fine, convert those in to houses and move the remaining retailers to new shopping zones where people are filtered through to increase footfall.

There needs to be a plan of action. Out of towns have their identity, they have generic big brand retailers, but what can the high street offer with alternative products? Niche retailers etc.

 

[deniser]

I think a lot of shops will end up being services.

We just lost a kitchen shop and that's becoming the third hairdresser in our small parade. And our offie has just become a takeaway.

In the village where we had a shop previously, when the shops closed down we gained a dentist, a physiotherapist, a beauty salon, a vet, a solicitor and two estate agents. But no new shops opened. The service based businesses do also bring people together - it's always very lively in the hairdressers.

 

[Lunazzurra]

Agree with all you say Warnie, BUT you have got one thing wrong.

Business rates are payable on empty shops so the government has no incentive to do any of what you suggest.

Not always the case I'm afraid.

All the landlord has to do is put a few building materials on the premises and claim he's getting it ready for refurb/re-let and he can apply for exemption.

Try downloading your local council's empty commercial properties list and you'll be surprised just how many are classed as exempt!

Exemption also normally applies to empty Grade 1 or 2 listed buidings, such as you might find on any old market town high street.

Obviously, as soon as a tentant moves in then the exemption would be lifted and the full rate applied.

 

[islandgirl]

just chipping in if I may. I've just started out as an independent b&m shoe retailer. Sorely needed in our community and I've had hundreds of positive comments from shoppers saying how pleased they are to see an independent. Sales are growing but early days I know. My point is that after 2 months in, I realize that I can't afford the rent given the footfall and surrounding non retail businesses. Naively I thought that the rent was negotiable to a degree but that it would reflect and be be affordable given the trading history of the area. How wrong I have been. Rent appears to have been calculated on 'pie in the sky' or 'jam tomorrow' figures and I don't have a hope of realizing enough turnover for the rent. Rates are another larf. The shop laid empty for 18 months and the landlords had a rate free period whilst it lay empty. As soon as I take it over and challenge the amount it is a 'take it or leave it/ it's a very affordable/reasonable rate' attitude. Add to this ridiculous parking charges and highly over efficient traffic wardens slapping tickets on customers and you have a recipe for failure. I am now locked into a silly situation and my only hope is that I can re negotiate a more realistic rent rate (I am hopeful of this given they had no rent for 18 months!) or I am broken before I have begun. And not for the lack of business enthusiasm, effort and creativity.

 

[kelvin1950]

Do you qualify for business rates relief? Makes a big difference.

 

[islandgirl]

Yes I did , all £625 for the year. The rates are half of the rent basically. £800 + for the rent and £400 + for rates. 'An affordable and reasonable rate' according to VOA.

 

[Lunazzurra]

Yes I did , all £625 for the year. The rates are half of the rent basically. £800 + for the rent and £400 + for rates. 'An affordable and reasonable rate' according to VOA.

Can you just clarify: are the £800 & £400 figures per month? And, have you allowed for the discount and multiplier to your RV?

 

[islandgirl]

Hi , Yes , per month, multipliers calculated by LA and this is after discount. Too much ?? and the rent is an 'incentive' price. not feelin the incentive atm!:|

 

[Talay]

It would allow a retailer to spend another 10k on stock..which could convert in to 20/30k increased turnover...is that still a drop in the ocean to you?

When running our shop we would spend anywhere from 2k to 3k a month on stock (we kept to a budget) so to have an extra 1k on top free every month...wow...dreamland. That would possibly create another job position the following year for a part timer.

If you could sell all you could buy at a profit the banks would be falling over themselves to lend to you, not that you would need their financing because you'd have sold all your current stock.

It is nonsense to suggest spending another £10k on stock would improve your position.

 

[Talay]

In order for high streets to survive (in my opinion, anyhow) we need to remind potential shoppers that shopping is a social experience, not just a matter of pressing a button, sticking your card details in and getting what you want delivered to your door.

Years ago (when I was young!) Saturday was the day you went into town, met your friends, had lunch/coffee, eyed up the boys, mooched around in shops, spent your pocket money/paper round money etc and spent all day in town.

It was unthinkable that you wouldn't go into town (local high street as was) on a Saturday - and it wasn't only kids/teens who did that. Everybody did. It was heaving with shoppers.

Today's shoppers have of course moved on to a certain extent but if high streets were more user friendly (i.e. free parking, better public transport, nicer seating areas, affordable quality food outlets, shops with doors that opened and windows not boarded up) people would be far more inclined to do their shopping in person.

I simply refuse to believe that people don't want to interact with others, to see, feel, touch, smell, try on, sample what they may want to buy. You wouldn't go to a nightclub if you were likely to be the only person there ..... it's human nature to want to mix with others, we just need to try and remind people what they're now missing, and provide them with the facilities to enjoy it.

Simples

I agree and I remember those times. However, before we lift off the rose tinted glasses......

These were the same old days when we had black and white tv and then only 3 channels (some TVs couldn't even get BBC2 either !). There were also no remote controls.

Shops and the god squad had the audacity to tell us when we were allowed to shop. No Sunday trading and half day closing on a Saturday, most probably a Wednesday as well and for some even Monday was a day off !

There was no internet, no video games, or just a few in my time. Pinball in the cafe was the highlight and perhaps a few games down the arcade. People owned watches to tell the time and we could remember 100 different phone numbers in our heads. We had to !

We had few outlets for expression or interaction. Many people didn't have phones and if you did, it cost a (relative) arm and a leg to call. There were no "free" minutes back then.

The fact is that we didn't necessarily want to do things that way back in the past but we had no choice. Now we do have choice we have decided we want to do it our way and that might well mean naked in front of the laptop at 5am ordering a present to be delivered to someone without it ever coming through your hands. That doesn't make it bad, just different.

 

[islandgirl]

In order for high streets to survive (in my opinion, anyhow) we need to remind potential shoppers that shopping is a social experience, not just a matter of pressing a button, sticking your card details in and getting what you want delivered to your door.

Years ago (when I was young!) Saturday was the day you went into town, met your friends, had lunch/coffee, eyed up the boys, mooched around in shops, spent your pocket money/paper round money etc and spent all day in town.

It was unthinkable that you wouldn't go into town (local high street as was) on a Saturday - and it wasn't only kids/teens who did that. Everybody did. It was heaving with shoppers.

Today's shoppers have of course moved on to a certain extent but if high streets were more user friendly (i.e. free parking, better public transport, nicer seating areas, affordable quality food outlets, shops with doors that opened and windows not boarded up) people would be far more inclined to do their shopping in person.

I simply refuse to believe that people don't want to interact with others, to see, feel, touch, smell, try on, sample what they may want to buy. You wouldn't go to a nightclub if you were likely to be the only person there ..... it's human nature to want to mix with others, we just need to try and remind people what they're now missing, and provide them with the facilities to enjoy it.

Simples

I totally agree with you. I opened my shop because the items I sell, I believe, should be held, tried on, walked in. I sell shoes. My town has 2 major chains and 2 independents and the choice was pants to say the least. without fail, customers that come in are confirming this, unprompted. I have tried to establish a multi sensory experience and they are wowed by this. These massive shopping malls and major high st chains are causing us to be de-sensitised to the shopping experience. I'm also not saying that t' internet isnt right , I'm just offering an alternative. I actually believe that the high st. can be rejuvenated with the right approaches and go back to those days you mention.

 

[mhall]

we have decided we want to do it our way and that might well mean naked in front of the laptop at 5am ordering a present to be delivered to someone without it ever coming through your hands. That doesn't make it bad, just different.

...and that possibly sums up one of the many things that are wrong with society. We have become so wrapped up in "making it easy" for ourselves that we never actually enjoy the experience. When buying a gift becomes a chore that we want to get out of the way rather than a pleasure for all concerned, we are on a slippery slope.

Personally I can think of nothing worse than getting a card from Moonpig or funky pigeon that the sender has not even bothered to write in themselves and, perhaps I am getting old, but I have discovered that it makes a big difference to me if someone has actually thought about what they give me and make a tiny effort.

 

[Talay]

...and that possibly sums up one of the many things that are wrong with society. We have become so wrapped up in "making it easy" for ourselves that we never actually enjoy the experience. When buying a gift becomes a chore that we want to get out of the way rather than a pleasure for all concerned, we are on a slippery slope.

Personally I can think of nothing worse than getting a card from Moonpig or funky pigeon that the sender has not even bothered to write in themselves and, perhaps I am getting old, but I have discovered that it makes a big difference to me if someone has actually thought about what they give me and make a tiny effort.

Fundamentally I agree but like democracy, I stand by the right of the individual to order what they want, when they want and how they want and not to be dictated to by the retailer, government or the church.

Whereas retailers somehow see it as the problem of society, I see it as a the retailers' problem. They have simply not evolved an attractive option to entice the general public to put up with their restrictive trade practices nor offer exceptional customer service to offset their often higher prices.

Price and convenience has won out in an era of huge demands on our time, limited funds in our wallets, high fuel costs and excessive parking charges.

 

[Doodle-Noodle]

I agree and I remember those times. However, before we lift off the rose tinted glasses......

These were the same old days when we had black and white tv and then only 3 channels (some TVs couldn't even get BBC2 either !). There were also no remote controls.

Shops and the god squad had the audacity to tell us when we were allowed to shop. No Sunday trading and half day closing on a Saturday, most probably a Wednesday as well and for some even Monday was a day off !

There was no internet, no video games, or just a few in my time. Pinball in the cafe was the highlight and perhaps a few games down the arcade. People owned watches to tell the time and we could remember 100 different phone numbers in our heads. We had to !

We had few outlets for expression or interaction. Many people didn't have phones and if you did, it cost a (relative) arm and a leg to call. There were no "free" minutes back then.

The fact is that we didn't necessarily want to do things that way back in the past but we had no choice. Now we do have choice we have decided we want to do it our way and that might well mean naked in front of the laptop at 5am ordering a present to be delivered to someone without it ever coming through your hands. That doesn't make it bad, just different.

You're right in what you say, but for me personally none of what we now have is "better". It's different, yes, but better? Not in my view.
The human race is becoming insular, lazy and dependent upon pushing buttons to do everything bar breed (I'm sure that's on it's way too, download a sperm of your choice ...... yuk)
We no longer visit people, see them, hug them and hold them - we Tweet them, message them, text them - if they're lucky we might actually skype them, but visit them? Why bother. They'll be watching the bloody telly anyway.
24 hour TV has led to a generation of parents and children who sit together in the same room without speaking to each other or even making eye contact with each other as they're staring at the box in the corner totally engrossed while it churns out it's never-ending generic garbage and convincing them they need more buttons to push in their lives.
They don't run, walk or play outside, they're driven to school so that the working parent can provide more buttons for themselves and their child to press ...... it's awful!
My glasses may well be rose tinted, but I lived in the 60's & 70's when people actually didn't have very much at all; we ate proper food that didn't come in a box laden with additives and hydrogenated fat, we visited our relatives, rode bikes, walked to school, spoke to our real friends in person, hugged the people we loved, read books, played board games and only watched telly for about half an hour most days.
And yes, we went to the shops. By foot. And it was wonderful.
In time the human race will mourn that it no longer has the ability to interact with others of the species.

 

[pen2670]

If you could sell all you could buy at a profit the banks would be falling over themselves to lend to you, not that you would need their financing because you'd have sold all your current stock.

It is nonsense to suggest spending another £10k on stock would improve your position.

For me an extra £10k on stock would be a huge blessing!

Can't speak for Esk, but for me it wouldnt be more of the same stock - in which case I can kind of see your point, but a broader range of stock and the ability to get a new brand or two on board to bring more people into the shop and sell more accross all ranges...

 

[Esk247]

If you could sell all you could buy at a profit the banks would be falling over themselves to lend to you, not that you would need their financing because you'd have sold all your current stock.

It is nonsense to suggest spending another £10k on stock would improve your position.

but...it...would improve our position :|

I don't understand why having 10k more available in our budget to spend on new stock, new brands or more of the best sellers is a bad thing?

With 1k more a month we could negotiate even better prices on our current stock options.

So sorry. I don't see why everyones telling me that buying more stock is really bad for my business? We invested more in stock last month and that's seen instant returns ... so i guess that i'm doing it all wrong then? Perhaps i need lessons in business as I clearly don't grasp the concept of all this.

 

[warnie]

If you could sell all you could buy at a profit the banks would be falling over themselves to lend to you, not that you would need their financing because you'd have sold all your current stock.

It is nonsense to suggest spending another £10k on stock would improve your position.

It depends on what stage the business is in. If like us, the business is still growing and the owner has lots of new things they want to introduce, then an extra £10k would be fantastic.

If on the other hand the business was established and the owner would just buy more of the same as he/she has exhausted all avenues available to them, then you may be right.

But to suggest it's nonsense, is well nonsense as every business/owner is different.

 

[ashbash]

Doodles ...I agree so much with what you said above about the Saturdays in town, and all the changes since...however, perhaps you need to amend the tag line under your signature lol xxx

 

[Talay]

but...it...would improve our position :|

I don't understand why having 10k more available in our budget to spend on new stock, new brands or more of the best sellers is a bad thing?

With 1k more a month we could negotiate even better prices on our current stock options.

So sorry. I don't see why everyones telling me that buying more stock is really bad for my business? We invested more in stock last month and that's seen instant returns ... so i guess that i'm doing it all wrong then? Perhaps i need lessons in business as I clearly don't grasp the concept of all this.

So if you buy new stock which sells ahead of current stock which doesn't sell, then you're still not on top of stock management, merely adding more to the mound of unsold and eventually discounted or disposed of stock.

As for needing £10k to buy more of the best sellers then I'm at a loss. If they sell so fast and at such good margins then why don't you already have sufficient invested in these lines ?

I do take the point about additional discounting at greater volumes but if such significant improvements in terms can be achieved, why not agree to larger quantities but have the supplier hold them for you and invoice on release ? They still achieve the volumes over the same time but it manages your stock and cashflow more efficiently.

No-one, especially me, is going to throw away £10k but if there isn't £10k there, aren't you seriously under capitalised to begin with ? That in itself needs addressing, to build up reserves to take advantage of purchasing opportunities.

If you are always buying 10 because you can't afford to buy 100 or 1000 though you can sell them easily enough, then the fundamentals are flawed, irrespective of excellent trading skills and high critical acclaim.

 

[Talay]

For me an extra £10k on stock would be a huge blessing!

Can't speak for Esk, but for me it wouldnt be more of the same stock - in which case I can kind of see your point, but a broader range of stock and the ability to get a new brand or two on board to bring more people into the shop and sell more accross all ranges...

So you've unused floor space to sell additional ranges which costs rent and rates but which currently produces no return ?

Or current stock is outdated and needs replacing with new lines for which no capital is available ?

Not sure why you don't have what you need and why you have lines which are less profitable than the lines you would replace them with.

Perhaps I'm missing something :|

 

[David1962]

So you've unused floor space to sell additional ranges which costs rent and rates but which currently produces no return ?

Or current stock is outdated and needs replacing with new lines for which no capital is available ?

Not sure why you don't have what you need and why you have lines which are less profitable than the lines you would replace them with.

Perhaps I'm missing something :|

It's where a lot of them go wrong, relentlessly stocking the same old lines because "it's what we do" rather than updating and changing regularly. Sure have your "core" lines that make up 50% to 60% of your stock, the rest should be changing on a six monthly or less basis being restocked maybe once in that in time before moving on.

You really shouldn't be needing to invest new money in stock at all once you've been trading for a couple of years. Unless of course you decide to target a more affluent market.

 

[Doodle-Noodle]

I do realise that if I comment again on this thread I'm putting myself in the firing line for the posters who are questioning absolutely every thing any of us actual retailers write with regards to how nice it would be to have an extra £10k to play with....... but hey, ho!

There are lines I would like to stock but currently don't. I cover lots of art/craft genres but not textiles; I get asked frequently where the nearest place is that does stock a good range, I personally know lots of sewers/textile artists/stitchers/cross stitchers etc and they're always grumbling that you can't get anything anywhere anymore. I know there's a market for it and that people would travel to me if I stocked a good range.

But that's the problem - you can't just do a bit of it if you're going to attract people in, it's got to be a proper, quality range covering ALL the basics (pins, needles in hundreds of different sizes, threads in all colours, thicknesses and variations of silk/,synthetic/wool/cotton, frames etc and that's before you even start looking for the actual fabrics which would have to be good enough to attract people.

£5k wouldn't be enough to set that up properly, £10k would though and there'd be enough to have decent displays, cutting tables etc to support it.

 

[Trisha&ChrisPlant]

I do realise that if I comment again on this thread I'm putting myself in the firing line for the posters who are questioning absolutely every thing any of us actual retailers write with regards to how nice it would be to have an extra £10k to play with....... but hey, ho!

There are lines I would like to stock but currently don't. I cover lots of art/craft genres but not textiles; I get asked frequently where the nearest place is that does stock a good range, I personally know lots of sewers/textile artists/stitchers/cross stitchers etc and they're always grumbling that you can't get anything anywhere anymore. I know there's a market for it and that people would travel to me if I stocked a good range.

But that's the problem - you can't just do a bit of it if you're going to attract people in, it's got to be a proper, quality range covering ALL the basics (pins, needles in hundreds of different sizes, threads in all colours, thicknesses and variations of silk/,synthetic/wool/cotton, frames etc and that's before you even start looking for the actual fabrics which would have to be good enough to attract people.

£5k wouldn't be enough to set that up properly, £10k would though and there'd be enough to have decent displays, cutting tables etc to support it.

Hi Doodle, I wholeheartedly agree. We are in a similar situation and £10k to spend on stock would be fantastic (having said that finding the room for it might be a challenge). We'd LOVE to do cake decorating stuff - all the bells and whistles but, much like you, it's a whole different ball game. Nozzles, icing bags, decorations, turntables, and on and on and on. There is definitely a market for it and we do have a few odds and ends, but I'm embarrassed at how poor our meagre selection is and would love to expand on it. Just can't commit to it right now though.

 

[kulture]

Don't worry about these armchair theorists who know how to run your business better than you.

The ones who think that a supplier would love to give you extra discount AND hold the stock in their warehouse free of charge. The ones who think you don't need to invest to grow. The ones who think that there are easy answers and that if you need an additional £10k then you have got it wrong.

 

[warnie]

Don't worry about these armchair theorists who know how to run your business better than you.

The ones who think that a supplier would love to give you extra discount AND hold the stock in their warehouse free of charge. The ones who think you don't need to invest to grow. The ones who think that there are easy answers and that if you need an additional £10k then you have got it wrong.

Well summed up

Why does investing in new lines mean that your old regular lines will suddenly stop selling? I maybe different but when I invest in new lines, I do it to attract new customers and to relieve my regular customers of a bit more of their cash!

I believe the opposite. That is, if you don't have the know how, ideas or desire to make £10k work for you to improve profits then it really maybe time to pack it in.