This week I am going to publish a different reason each day on why a newsagency is a good business to buy – in no particular order.
#1 – A newsagency is a good business to buy because of the community connection.
Small and independent retail business struggle for relevance in a local community. Your local newsagency fares better than move because of the regular traffic for everyday items like newspapers, magazines, cards, lottery tickets and home stationery. While some of these categories may face challenges, sales continue to be strong, traffic continues at a level other small and independent retailers would love.
Newsagencies are traffic rich. Smart newsagents are leveraging this to the max and chasing new sources of traffic.
Ask anyone in town where the local newsagency is as they will know. This is an awareness base on which you can rely.
Anyone buying a newsagency can leverage this awareness, they can build on it. This puts you ahead compared to if you purchased some other local independent retail business.
At an ANF conference on the Gold Coast a years ago I asked the question of newsagents what do you stand for? The vast majority said being community connected in the most important point of difference. This is true for many today and it is a good reason to buy a newsagency.
Newsagencies are good businesses to buy. We newsagents need to do more to demonstrate that this is the case. It starts with us making our businesses looking more appealing and is assisted by stories we tell about being a newsagent.