Moving On in Retail

In the past few weeks, two retail units have become vacant near my office on market lane in Selby town centre. Sadly both of these are former independent traders who have been trying to earn a living in the town centre for many, many years. At the time of writing, the reasons for closure are unknown, so I can't go into why they have closed down. However this gives other businesses in the area an opportunity to expand. They could increase their own opportunities on the high street and progress to the next stage up the ladder. Is this the time to increase his or hers own shop floor space? For some people the economy seems to be slowly picking up so is this the time to do something about it? Moving into these bigger premises could vastly increase your sales area, but at the same time also increase income and all important case flow. Also some businesses could be cleaver and may want to downsize from their current premises. Paying big bills for unused space takes up vital cash flow that could be used on other things. Apart from the busy end of season football presentations in June and July, about half of our own customers buy from us online, so moving from our current location isn't in our own business plan. Our online customers don't care if the item comes from a computerised warehouse or from a second floor rented office. As long as it arrives within a reasonable time frame it doesn’t matter to them. I look forward to welcoming new neighbours into these retail units in future blog posts – for more details about us, go to www.lrbtrophies.co.uk – #SBSWinnersTrophy supplier.