Is your local retail business going well? Some of your (not ‘really competing’) neighbours doing worse?
I wrote a piece last year about why you might want to help out those who you might consider competitors. I’ve just seen first hand what can happen when a company’s neighbour goes out of business: a much more serious competitor can move in.
My local sandwich shop, a small independently owned business has been serving baguettes, salads and paninis for over 5 years. Later this month a sandwich-shop chain is opening up in place of a cafe, just three doors away. They should have them beaten on price, unless the new shop gets aggressive and goes after their loyal customer base of office workers from around the area. As it stands they’ll attract business just on the basis of curiosity.
Now is the time for the little guy to raise their game, whether they broaden the menu, encourage loyalty (the chain already has a loyalty discount card) and raise their service level: offer delivery, take pre-orders – all the things the chain isn’t willing to do.
If that situation sounds familiar to you, now might be a good time to reach out to them and work on some co-marketing efforts – banding together to ward off a bigger threat.
Image credit: Chiceaux via Creative Commons on Flickr