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Is the Antique Business, Dying, Dead, Wounded Or Just Hybernating?
If you are a small business owner of an old business, you may have heard the “rumors of death”, disappointed by the mass of “gloom and doom” and often look out your window to see if there is a “funeral”. i’m passing by…I’m here to tell you that even though the old stuff and all the retail businesses are being criticized…they’re not dead and they won’t be any time soon!
Almost every day I hear a constant comment from other customers and many disappointed sellers saying that the old industry is dead, dying or gone. There are suggestions and:
1. Existing customers are not buying.
2. Existing customers have bought everything they want.
3. Young customers are not interested.
4. Anyone who might be shopping is shopping online.
I would like to offer you “courageous and dedicated” antique dealers with critical knowledge and opinions against the “old business practices”.
For many years the old industry (like many other industries in America) became full of part-time, dedicated people who saw the opportunity to turn the “passion of garage sales” into the profit of “clearing or saving books” every day. an effort due to the abundance of antique shops everywhere! These sellers “drop” the security, load the SUV, take a few tables and cloths together and open the Antique Mall Space. The group’s massive growth increased the number of antique shops found on high streets and malls in the United States.
The flaw in this idea was that the property was expensive, add a very high percentage, and the small volunteer workers did not have the same “interest rate” that the owner of the real estate would have had. Retailers were not the “old fashioned sellers” and often found at the end of the month that instead of the “dirty money” they thought they had made, there was less money between rent and sales. waiting for them on the first day of the month instead of the expected check. The new “reality” entered the retail space and soon they said this was not a good idea and they were “released” in the written numbers. The “resale process” of market land tenants created large empty spaces in former shopping centers and resulted in former market owners finding themselves “upside down on their rent due to occupation”. This has caused Antique Malls to close their doors and hang “for rent” signs in front of the buildings.
What is the postmortem of this procedure? A “huge opportunity” for the antique shop to get a piece of the pie (the wealth generator). Now is the moment not to worry about the return of old internet marketing but to take advantage of it. The Internet gives the marketer the opportunity to reach millions of new customers and start sharing their piece of the pie. The lack of retail space makes your “bricks and mortar” shop appealing to the customer who enjoys a new visit to an old store (as long as it’s received with interest) and valuable and unique items to try.
Will the old company and store survive and come back to life? I think so. The old and first customer is a “collector” not unlike a museum. They collect things that interest them, that have value to them and that they think will pay off in the long run. The number and longevity of museums around the world is proof that people are still interested in seeing and owning the most important things in human history. A private collection of a collector’s “favorite item” is their museum to enjoy for themselves and share with friends… and maybe even sell for a profit!
The characteristics that will determine the “winners and losers” in a “shakeout” of old companies are:
1. Due diligence combined with financial control.
2. Exciting and unique products run regularly to ensure innovation for your repeat customers.
3. Good price. The days of “dirty profits” are over. A $10 to $1 profit may occur from time to time but a lower price of $3 to $1 in value would probably provide a better value and encourage “customer loyalty” to buy.
4. Good manners. The last thing anyone needs (or wants to hear) when they go to a store or business for a good shopping experience is “sad and sad”. Motivation and enthusiasm are contagious…so is success and growth. If you want good customers…have a good store!
5. Look for new ways to reach new customers. Pick up a car or truck and hit the high-end, low-end, or mid-market, vintage show or swap meet with lots of business cards and good deals. Give your visitors a “sneak preview” of your preferences and selections and invite them to come and visit the wide variety of brands in your shop. Give them discount coupons, if you want to build momentum, for them to use on their next trip.
6. Finally save the new save. If new sales are not possible with the current problems… Reorganize your property so that the same products are displayed in new places, with new ways of showing how they are being used. You will find an old product becomes a new product just by moving it to a new location.
In short when the going gets tough… A dedicated antique shop owner should look at the situation as an opportunity to expand market share… Don’t throw in the towel!
The world is full of businesses that could have been successful with a little effort and patience! Quitting is easy…Success is surrender!
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