An independent retailer is a person running a business alone without the help of big brands. For example, if you plan to open a Subway of your own, you’re not an independent retailer but a franchise business. If you, however, start the jewelry business of your own brand, you’ll be an independent retailer.
Independent retailers in the US provide job opportunities, and community awareness and contribute to global trade. An independent retailer is able to finish all steps of tasks finally leading a small business from an idea to a real business. Independent retailers also need to employ consultants and/or staff to run business and family usually plays a role in it. Some independent retailers co-own or co-manage businesses with families.
Then, how to be a successful independent retailer? This article will tell you some aspects.
Keep independent and flexible.
Being an independent retailer provides you with the biggest freedom. You can keep flexible in all aspects of business because you don’t need to be responsible for investors that just go for huge benefits without considering how you feel. As an independent retailer, you don’t need to take that into consideration.
Explore stable resources compatible with an independent retailer’s demands.
As an independent retailer, it’s extremely beneficial to establish a stable supply chain for the business to smoothly run. You should be clear about where to get help when issues are met in terms of the supply chain. The basic principle to deal with supply chain issues is to find a business association for advice and guidance. Once you’ve found an optimal supply chain, definitely stick to it. Meanwhile, an alternative should be prepared in advance. Never put all your eggs in one basket. That’s the same when it comes to an independent retailer.
In spite of the freedom and flexibility, it’s hard for an independent retailer to stick to a business. Without a brand, guidance, or support, it’s you that is responsible for everything from market research to business planning, from fundraising to sales relationship establishment. You need to stick to your business and stay patient as well. Rome is not built in one day. Neither is your business.
Be patient about everything. If you fail to get enough funds, be patient though it’s difficult. After all, most independent retailers fail just because of a lack of smooth fund flow. If your staff or colleagues fail to finish tasks based on your requirement, be patient though it’s difficult. After all, everyone needs time and effort to grow. Be patient about your business and you’ll be successful one day.
Find successful independent retailer examples.
As a business owner, you’re the boss that schedules all your time while you’re the only one (at least in your company) that fails to sleep well, keeps worrying about business lifespan, or always doubts whether wages can be sent out or not. All the above thoughts can never be avoided for any business owner, either large or small. Learn from successful independent retailers’ experience and you’ll be able to suitably deal with such moods and anxiety.
Don’t be afraid to ask for help from others. Being a business owner is a difficult but modest journey full of risk. It’s relaxing to share your difficulties and issues. Moreover, it’s beneficial to establish a long-term relationship with more business owners that will constantly provide suggestions and advice to you.
Use sharp tools.
Good tools help business owners to finish tasks at a high speed and low cost. For example, most business owners use EasyLine as an assistant to make calls and text and/or automatically deal with the relationship with customers just to minimize the time cost and maximize the efficiency of problem-solving.