Australian Newsagency Blog

A blog on issues affecting Australia's newsagents, media and small business generally.

If you think closing your newsagency is the only option

Mark Fletcher
September 13th, 2018 · 4 Comments

I video I shot this morning.

24 likes

Category: Newsagency management · newsagency of the future · Newsagency opportunities

4 responses so far ↓

  • 1 Colin // Sep 14, 2018 at 10:29 AM

    Well said Mark. Hope you didn’t receive too many calls as a result.

    0 likes

  • 2 Graeme // Sep 14, 2018 at 6:40 PM

    The biggest problem as I see it is that newsagents or any other small business owner in trouble has is denial.
    Your video could “bridge” the gap by allowing them to relate to the message and perhaps ‘phone you.
    Then the problem really starts for as you say most leave it far too late to make contact. The damage by this time lag is irreparable.
    The best part of the video is that you state this and therefore are appealing to those in trouble to contact people to help them when the situation is perhaps saveable.
    I have found that the best thing to do is give people indicators that are showing them the path they are on such as -are you 30-60-or 90 days overdue with so many accounts say 50% etc.other signals are ;
    Are suppliers constantly ‘phoning for payment?
    are early returns of magazines used for funding another supplier that is ovedue in payment?
    How up to date are your BAS payments?
    There are so many indicators and so much denial that “she’ll be right” next month will be better because etc.
    You;ve given the best advice and that is “look at it head on’ and then ‘phone somebody for help.
    Someone you respect and your not afraid to bare all to.

    0 likes

  • 3 Mark Fletcher // Sep 16, 2018 at 8:42 AM

    Graeme, one reason people do not come forward earlier is because they do not believe there is a solution. Any of us in a role where we work with newsagents, advising them and guiding them … we have to engender belief / hope that things can get better.

    Often, in the middle of a storm, we can’t see the other side.

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  • 4 Graeme // Sep 16, 2018 at 10:28 AM

    I agree that your comment is the reality, however trying to educate people is forever the challenge. Many newsagents would rather stay and slowly go broke virtually forcing the issue of someone to blame as you state, rent (landlord) etc. than face the uncertainty of no income once they close. Only too often their debt load is too great and best to hang in there, as even a Sale would not clear the debt.
    It’s not doing the industry any good when there are so many opportunities as you state frequently, for those that want to progress or “new starters” coming into this industry.

    0 likes

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