By Megan Moyer, corporate marketing manager, for the “Profits in the front end” blog series
Competitive pressures rarely take a back
seat. As an independent operator, you have an inherent advantage in your flexibility to make changes as you see fit, without having to “run it up the ladder” or build your case to convince others it’s a good idea. But that alone isn’t enough, as you know. One option to set your store apart is finding a niche you can serve.
Figuring out what niche you can fill may be as simple as asking your current customers if there is something unavailable locally that they travel outside of the community for. You can also ask your chamber of commerce whether they are aware of a need that can be filled. If these answers don’t provide obvious direction, conduct a short, pointed survey of customers, or ask the chamber to help you distribute it to the community at large. Another option is hosting an open house and surveying attendees, or taking a poll at other events you host or participate in around town.
Healthcare provider partners in the area are another good source to approach. There may be a remedy or a specialty item or product line their patients aren’t able to get at any local retail outlets. Your pharmacy could become the source for that solution. Think beyond doctors to wellness or fitness facilities and even your local veterinarians.
The key with finding a niche and having success is having confidence that there is demand for the item or items you add to your assortment, or services you start offering. When you start by asking what is needed, the most common answers should point you in the right direction.
