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

Newsagents: beware claims of fast profits and stellar growth

There must be something in the water, something bringing out people with loud claims of fast profits, amazing results for newsagents, the best offer ever put to newsagents, a revolution for newsagents.

These are some of the claims being pitched to newsagents in recent times.

Not one pitch I have seen recently provides evidence. Sure, there are newsagents talking them up, but, again, no evidence, no facts that can be verified.

We all want success, right?! Any pitch that feels believable, that offers success that feels attainable, can be successful for the party making the pitch.

History has shown that get rich quick schemes are not likely to succeed, that fast profits are not easy, or fast, that revolutions tend not to be.

If you’ve received a pitch that interests from you, be inquisitive. Ask tough questions. Seek evidence, get it in writing, making it clear that you want it in writing should things not go as promised.

Asking for evidence in writing will have some back off. They’ll probably say that you are not a good fit for them our that your question demonstrates lack of trust or that they don’t have time to answer you because they are too busy with people who want to proceed.

Slick sales people leverage the fear of missing out to get people to sign up quickly, before they have done any due diligence.

I have researched a couple of recent claims that have been put to newsagents and can’t find any evidence to support the claims of success.

In one case a claim about margin failed because the sales price needed for items was found to not work in shops. The real margin at which point the products did sell was half what was claimed.

In another case, online sales claims feel inflated in that the website is getting around 50 visitors a month and is ranked at the bottom of page 2 on Google.

My point is, buyer beware, do your research. It may turn out the pitch is right for you, that it delivers what you hope for, which would be terrific. It is better you make the decision with the facts and not the hype, because anyone can hype.

And, yes, I have made claims myself here at this blog. Most recently about card sales growth of 50% and more. These claims from me are based on evidence in the data. Greeting cards continue to be the best margin and easily grown products in a newsagency today.

Absolutely chase growth and success for your newsagency. But … do so based on evidence.

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  1. Peter

    I think you must be getting spammed every day by the same person spamming me. I have counted 6 emails in the last week. It’s wise to take note of the advice here. Do your homework. Get it in writing.

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