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How to beat the competition
You open a coffee shop and have a successful launch, the local area needed a coffee shop as there were none in the surrounding area and you do outstanding business in the first 6 months. You have gotten to know all your clients well and are on first name terms with most of them. Then a branded coffee shop opens just down the street. You take it in your stride and carry on as normal, ensuring your prices are on par with the branded coffee shop and they are not undercutting you, despite them giving away free bloody coffee every morning you still do well. In fact, you are booming due to new strategies you have in place. A few months go by and another coffee shop opens at the other end of the street. Not a branded one this time, an independent little one like yours. You review the competition and realise that they are not only giving away morning coffee but there's a free cookie to go with it. However, their chairs really suck and the local masseur does a booming trade for back ache. Business for you however is still booming, as usual you have kept things fresh, your coffee is the best and your sofas and armchairs are really pleasing the customers. The branded coffee shop is struggling and the new independent is still in his first month giving away freebies. Your loyal customers are still with you though so all is well. Your eyes almost pop out of your head. What's that? Another independent on your street opens up; this one has cash to burn though. Not only is he giving away free morning coffee and a cookie but he has the comfy armchairs and a flash new design. This one worries you. What do you do? You have two new competitors who are doing OK but not yet affecting your business and a newbie fresh on the scene who is set to make an impact. What you do is simple. You should have done it already. When going into business you should have marketing strategies, at this stage your new competition is doing phase one whilst you should be into phase 3. Not only are you serving coffee but you have extended your range and are giving away free reading material and have recently launched your new Dheli section. The smell of freshly ground coffee and baking bread should be emanating down the street, You should have strategies in place to get the morning trade, the lunchtime trade, the passing trade and you should be asking yourself why your coffee house closes at 5pm when you have an entire premises that could be getting the evening trade (phase 4!) Think fresh and you will win - be positive and vibrant. Never surrender : - ) Now - why did I write all this bollocks? Because it's true. Believe it or not but I just wrote about franchising and my experiences. I came into the game as a complete newbie. Hell, I barely knew what a franchise was. Now as I go into phase 3 though I am confident of blowing all competition away, that of course is the competition I have left. (The big 4 as I call them) The trick I am writing about though is a simple one. Firstly you look at what other people in your area do and do the best of what they do, not everything, only the best. Then add to it. Up your game.
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May, 2012
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