This photo shows a newsagency and convenience business next to each other on a busy suburban street. No matter where I stood – to the left, to the right or directly in front, the convenience store was brighter and more inviting than the newsagency. I have loaded a high res photo so you can compare in detail for yourself.
Both businesses sell papers, convenience lines and magazines – although the newsagency range is considerably bigger. The c-store has considerably more on the convenience product space.
The convenience store is part of a group that drives discipline. The newsagency is not in any group and left to run the business as the owner wishes.
The convenience store has a brighter future thanks to the discipline of the group to which they belong.
While I am on the record saying convenience is not a good model for newsagencies, if I was in control of this business and convenience had to be the focus, I would join a convenience group. While such a group would not be a newsagency group, it would provide management and marketing guidance that would enable better competition with the c-store next door.
This newsagency will close soon if it does not change direction urgently. The challenges the owner faces reflect challenges we all face in our businesses. Change is essential. It can be invigorating, fun and profitable. Change builds optimism.
If I was in control of this business and not bound by operating a convenience model, I’d make considerable changes, moving out of convenience and into higher margin traffic generating lines I could promote outside of the business.
When I see newsagencies in a situation like this one I saw last week I see opportunity.
The newsagent, as the old gag goes, should paint his shop in identical colours to his neighbour, and erect a sign that says “Main Entrance”.
Ash I like that. I’d add: turn some lights on.