If you have been following the news about retail lately, you might be wondering why anyone would be encouraged to be the owner of a brick and mortar retail store. Just yesterday, there were several reports that department and chain stores such as Macy’s, Sears, and J.C. Penney are closing hundreds of locations due to under-performance and competition online. One headline read, “The retail apocalypse has officially descended on America.”
As I sit here with my 1,100 square feet of retail space full of women’s “foundations” (plus an additional 700 as stock room and office), this news is tough to read and hear. Am I crazy to keep my shop open? Should I get out while the getting is good before I go bankrupt? Will people continue to shop at my store?
I teeter and totter between being encouraged and discouraged about the viability of running a successful retail business. There are a lot of cards stacked against retail – the cost of inventory, cash flow, taxes, increasing costs of labor, the cost of rent…it goes on and on. And I haven’t even mentioned the competition from online.
I’ve had a few things happen lately that are weighing my emotions to the encouraged side. I own a bra shop in the middle of a small town in Vermont…maybe that’s actually what I have going for me? In the spirit of “half-full” and all that, here’s my (Todays!) Top 5 Reasons I’m Encouraged to Own a Little Bra Shop.
1. Being special: A Grandmother-of-the-Bride called the other day. The wedding is this summer and she has found a dress for the special day. She needs a new bra. She googled “specialty bras in Vermont” and the shop came up. She’s coming down next week. She’s bringing the dress. It’s a two-hour drive. She’s a 42B. Let’s never underestimate being special.
2. Employees: We had a snowy day a couple of weeks ago and did not open the store. It was on a day that Julie was supposed to work. She came in the next day – her unscheduled day – to make up the shift without me asking her to. I would have paid her for the missed day, but she insisted on working. I’ve been blessed with some great employees, there is no way in hell that I could do this alone.
3. Patience and Returns: We take special orders and there was one order in particular that took a very long time to come in for one of our frequent customers. “You know…I could have probably gotten it faster by ordering it online,” she said when her order finally came in, “but if I want you to stay in business I need to shop here…and I want you to stay in business.” Customers who understand and who keep returning to the shop even when they might be a little disappointed…wow. YOU are making things possible. Thank you. Thankyouthankyouthankyou.
4. Open Doors: Got the news on Sunday that a store is moving into the old Banana Republic space, which just so happens to be kind of across and up the street from the shop. Apricot Lane Boutique is a franchise and there is already a Facebook page up (Apricot Lane Manchester) with a banner that says “Coming soon April 2017.” Reading through their website, it looks like they are a women’s clothing store specializing in fashions to a core customer aged 22-40+. With all the news about stores closing (both in town and in the country), I’m psyched to hear about a new store OPENING…and in shop neighborhood! (We call it SoRo – South of the Rotary)
5. Decisions and Destinations: I had to make some tough decisions going into this year in regards to expenses at the shop. In short, my costs were too high and my revenues were not enough to keep the ship above water. I felt like I was drowning and it was confusing because sales were up. I cut some costs. Making the decisions as to what to cut was very hard. It’s like anyone that has to go on a budget or diet, I guess. It’s hard. It has taken a lot of work and a lot of faith and a lot of trust to get to a more solid place financially. I’m feeling better – a little. Everything you read about small business is true. It is HARD.
Brick and mortar (which basically means having a physical presence) retail is in rough shape overall, just read and listen to the news. I heard an investor say on the radio yesterday that retail stocks are “value traps” and that brick and mortar retailers are in a “downward spiral.” Yeah, maybe I’m nuts, but maybe little bra shops in Vermont have a bit of a chance to buck the trend, eh? Who knows.
Today this little bra shop is plugging along OK and I’m inspired to keep trying no matter what “they” say and how many stores close. Today I have hope because special still means something, and people want to be part of success, and businesses see opportunity, and change brings things that need to change. Today I’m really looking forward to hanging that stained glass window of a bra in the shop.
Tomorrow is another day, but today I’m encouraged to own a little retail store. There are at least 5 good reasons why.
Thank you for being part of it all. This is some wild ride.
XO – Joy
Joy Slusarek is the owner of JOY all things underthings in Manchester Center, Vermont and this wouldn’t be the first time she thinks she might be nuts. Working titles of blogs in progress include, “The Top 5 Reasons You Have to Be Crazy to Own a Retail Store,” “I Can’t Believe I’m a D,” and “Small Biz Taxes: Prepare Yourself.” The stained glass window is a work in progress by a local artisan named Sarah Witter. It’s pretty special.
