Come In We're Open!

During the recent slow period being experienced by all small town retailors, I have been searching for alternative revenue streams. This strange time, after winter holidays but before tourists have taken flight, is hard on small shops of every shape and stripe. I was warned about this time in all of the business blogs, by all of my business mentors and by all of the strangers and acquaintances passing on business advice. The first year is critical to business success and the ability to get the through the slow season is going to make or break you. How do you increase revenue without spending money on new products? This has got to be the most common question among retailors, so here is my plan of action:

Sitting at my computer, looking around the shop things feel stagnant. I don’t actually think that they are to the customer but to me, who spends 8-10 hours a day here, they definitely are. Project #1 is to rearrange the products and create some new displays. This might not actually translate into sales, however I think that it is pretty important to keep customers interested and create a new experience for repeat clients.

In the same vein looking around the shop I realize that I am not doing the best job at highlighting the products that are important to me! These are the products that hopefully distinguish me from other yarn shops in the area! I wanted to start a business that carried products that were local, Canadian and if not either of those things, then ethically and environmentally responsible. So far I have managed to bring a pretty wide selection of such products. From yarns hand dyed in Sicamous, to bags recycled and sewn in Skimikin, to buttons made in Chase and to a Peruvian yarn brand that donates much of its profits to support the school of its shepherds. Currently these products are just mixed in with all of the other products. There is nothing to distinguish them and highlight their qualities to the customer. Travellers are also always looking for souvenirs that are unique to their vacation right? Project #2: create signs to show customers the great and regional qualities of these products.

Koigu Yarns based out of
Ontario

2GoodClayMates buttons made
 in Chase

Felting & Spinning Supplies created by
Skimikin Studios

Our new Sale Wall. Small, but effective. 

Project #3: have a sale. Oh wait! I just had one of those and although it was very helpful, having a sale every 2 weeks is not a solid or sustainable business plan. I didn’t get into the retail business to make it rich, but to create a job for myself that was fulfilling and challenging. I want to make a living, not cheat customers out of a couple of dollars. As a result of that philosophy my prices are pretty much as low as they can be while still paying shipping, rent and keeping the lights on. That being said I still have products that are insisting on hanging around the shop and just aren’t selling. Product sitting on the shelves at their original price is not helping my cash flow situation. Solution, a Sale Wall! Starting this week in the back room I will have shelf full of sale items. These won’t be products that I think are bellow par, just ones that need a little help moving. Perhaps their original price was a little too high or there is only 3 left and no one seems to want to make a baby sweater out of it.

Dishcloths are the perfect, easy, one bag project.

We all know that Salmon Arm is a tourist town. In the summer the town is booming with travellers who are attracted by the lake, the festivals and the good weather, but what are they going to do on those days when the weather sucks or they are stuck travelling in the car? Knitting of course (or crocheting, or felting)! Project #4: create several small projects that are car sized and contained to a single bag. Perhaps even do several versions for kids. I haven’t made any of these up yet but they are in the works and will be unveiled soon

Project bags made & recycled in Tappen by
 As You Like It Custom Sew

   

 So there you have it, my plan of action to get through the slow period and keep the business afloat! I didn’t open a yarn shop thinking that it was going to be an easy ride and I am not thrilled that sales are low right now; but, it is keeping me on my toes and pushing me to create new products and new experiences for my customers.