Hey local retailers, what are your thoughts?
The entrepreneur desired to know, so we began cooperation Fairan online wholesale marketplace where gift shops, pet stores, clothing boutiques and other small, mom-and-pop businesses source their products. Faire asked its retailers five questions, and greater than 1,200 people responded — revealing their biggest fears, their biggest triumphs and what it really takes to maintain a small business afloat. “These owners are fighting every day, making it work and having an incredible impact on their communities,” says Faire co-founder and CEO Max Rhodes. “They’re super resilient.” See the results.
What is the most significant factor in running a local business?
“Getting people to buy local instead of Amazon or Temu”
“Cash flow. Too much money tied up in inventory causes most similar businesses to fail.”
“Get out into the community where you live and work!”
“Having the coolest products and making sure no other store in our city copies us. LOL”
“Friendly, competent and trustworthy staff”
“We make our customers feel how special they are!”
“I don’t need rest. Ever.”
“Analyze the competition.”
“A successful local business is like caring for an octopus—every tentacle needs attention at the same time.”
“Maintain a good reputation and answer your phone.”
“Providing events and services that people can’t get by shopping online”
“Capital”
“Make the community love what we do”
“Being a pillar in your neighborhood. It’s very important to be involved in your community.”
“Investing (time, opportunities, money, etc.) in the community, employing people from the community, offering goods produced by the community”
“A unique product offering that delivers significant profitability margins”
“Amazing assortment at an affordable price”
“Detailed business plan – copying and reacting will not last more than two years”
“High-level treatment”
“Finding Team Members with an Owner’s Mentality”
“Good customer service!”
“Loyal customers”
“Parking”
“Be connected to the forum; whether it’s social media or industry groups, it’s the same kind of business you are. Learn from them or exchange ideas with them.”
“I love what you do!”
“Staying informed”
“Stay flexible!”
“Unique products not made in China”
“We offer a variety of price ranges to suit all budgets”
“Creating enjoyable and unforgettable customer experiences”
“Cash Flow Management”
“Communication and punctuality in order fulfillment”
“Honesty”
“Stand out from other local stores”
“Network”
“Core group of loyal customers”
“Pedestrian traffic”
“Great service”
“Making sure local residents know and understand the businesses operating in their city”
“Being active and getting to know my clients”
“Being Present”
“Maintaining Reputation While Remaining Relevant”
“Location, location, location”
“Willingness to work long hours”
“I’ll let you know when we consider ourselves a success.”