Starting a Small Business in a Small Town
We get asked all the time how we were able to build such a fruitful business in such a small town. This article is dedicated to those of you wondering what we focused on 🙂
Starting a small business in a small town is not easy, but if you run it properly and prudently, you are bound for success just like we have been. Because the town is small in terms of population, you will encounter a limited number of potential customers to your store. And if your store is personalized, expect that number to reduce even further. However, with careful planning, you can make a good living, even fortune at some point.
If you already own successful business in your small town, you can skip reading the rest of this article. But if you are not sure how to start a business or what type of business is right for you at this point in time, then read on. Your choice of business is likely to be involved with what you are best in doing. The big question here is: How will you make money? The bottom line for any business – big or small – is obviously money. So, what will earn you money in the small town that you want to move or live in? If you can’t answer this question in one sentence, then you are probably looking for a hobby and not a business.
When you are dealing with a small population, you should be truly weary of what is lacking in the community and provide the same. It is not enough to do what you are good at doing. You should be able to research the demand and supply criteria. Does the town have a commercial car wash, an organic grocery store, a full-pledged salon, and spa or something people might be interested in? Are you qualified enough to provide any of these? You may be a great musician and instructor at the same time. Consider what might bring you more profit – whether opening a guitar store or teaching music at the local community center.
You will make more profit opening a business that would attract more new customers than a handful of loyal ones. So, try marketing tactics like free samples, buy one get one free and other offers recommended by a marketing consultant. Check out the breadth of your competitors and see what they are doing. Offer your own unique ideas to improve sales. If the field that you are in is too crowded, consider alternative or where there is a niche.
It is equally important that you are good with people. You don’t want to abandon your existing customers while you are in search of new ones. Your money making skill will be directly tied to how well you are in handling your loyal groups. There is a reason why some businesses have people lining up at the store day in and day out. They understand that treating customers with respect is very important. You can determine the answers to your customer needs by going online and doing some research. Find out what they are looking for, how they like to be treated and what other businesses lack that you can provide.