ByGeri.com

Fall is here! Imagine all the possibilities and change that comes with a new season. Festivals celebrate an array of different bounties and foods produced from those late arrivals. Think pumpkin pie, apple cider, and hay bales.

These days there are more places to go in the crisp air than ever before. As always, we see breathtaking color in the turning leaves all across America. Collectors of leaves and foliage always love this season for the variety.

Autumn inspired more than a few artisans and craftsmen over the years. From jewelry to table arrangements to home décor we can find treasures. What niche do you serve in the cool, crisp air?

Fall is here! Imagine discovering the largest collection of leaf jewelry in North America or the world for that matter. How could a collector or gift giver pass by a collection that seemed to never end without making a purchase? Where do buyers find that leaf necklace to offer up as the perfect gift this year?

The year could end on a fabulous note with the acceptance that buyers want what is in season at the antiques and collectibles shops as well as the grocery store. The season dictates the offer. Make the season count by looking at the offers of those businesses making sales. Look around at department stores to see what people buy this time of year. Pack that spring merchandise away until next year. Go for the colors of autumn and see a spike in sales!

Looking at unique shopping styles helps to establish marketing methods and/or even a niche market to attract. Developing a niche market takes a little time, but the rewards include a boost in sales and a reduction in expenses. Focusing efforts on a tighter group of buyers encourages larger transactions with less variety of merchandise.

An obvious shopping style that most of us acutely understand is the value shopper. This group looks for the most bang for the buck. They focus on getting the most for the least cost. Although the value shopper seems to shout the loudest of all shoppers, the group as a whole remains just a small percentage of all shoppers.

A second shopping style encompasses the individual who prefers not shop at all. This unique shopper relies on gifts, spouses, and personal shoppers for the acquisition of their belongings. Although they may desire your merchandise, the difficulty lies in getting them to care enough to overcome the aversion to shopping.

Next, we consider the sport shopping style. Sport shoppers seek a feeling of accomplishment when they find new trinkets for their collection. They love feeling intellectually superior after discovering a find. They love the thrill of victory.

Convenience shoppers want to get what they want quickly without hassles. They look for quality while shopping in an easy-going style. This niche market tends to prefer the dealer who offers delivery instead of coming up with their own method of getting the large pieces home.

Another unique shopping style comes from the individual who wants to be your friend as well as customer. The connection means as much if not more than the actual item purchased. These individuals tend to stop by for coffee and a visit as much as they visit an antiques and collectibles shop to see the collecction.

The expectation group of shoppers finishes the list of unique shopping styles. Variety, atmosphere, knowledge and service to stand out this type of shopper. Don’t fall short of your brand image with this type of customer.

Building a business certainly comes easier for those dealers who can satisfy one or two of these shopping styles. Try to identify your own style of shopping. Wouldn’t building a business around what you know and prefer be easier than trying to appeal to a whole different animal? Why not build a niche around one of these unique shopping styles?

Arrow Rock State Park

Entrepreneurial ventures pop up all the time hoping to bring lots of laughs and cash to the owners of these “new” businesses. Unfortunately, a sad truth must be faced by most openers of little antiques and collectibles shops. The real secret behind most successes lies in the ability to sell. Yes, you read that right! Sales make the difference between going out of business or raking in the cash.

But, wait, that can’t be true, can it? Yes! The ability to sell merchandise or services is essential to healthy businesses. Whether we like it or not, sales make or break the bottom line. The number one item on the to-do list increases sales if you expect to remain in business for another year.

Expect to spend most of the time promoting and selling your merchandise and services in the early days of starting up a small antiques and collectibles shop. Maybe partial retirement sounded like a great idea, but to make the dream come true in this industry only the most serious entrepreneurs stand a chance in this economy.

Missouri Antique Mall

Any good news? Absolutely! New dealers in the marketplace need not spend all their time “working” when they can spend most of their time making smart choices. Working may bring horrible images of approaching strangers and begging for a sale or learning wily sales tactics. Those dealers using techniques like branding and target marketing enjoy far more free time, more sales, and stimulating conversations with their peers than those resorting to tired, old-fashioned methods of drumming up sales.

Starting a small antiques and collectibles shop brings it’s own rewards, but come prepared to put in a little more effort than just propping an open sign in a nice display window. Without sales, the little shop faces doom and gloom. Prepare to learn a few new tricks and step out of your comfort zone.

The recession caused a lot of change to take place in the small business community, unfortunately, changing the landscape of antiques and collectibles dealers forever. We watched some of our favorite spots and good friends suffer in the downturn of the economy. No doubt, many of us felt the blow to our communities in some way.

Before we begin to look forward, maybe we should take a little look at what now lies behind us, the loss of some cute, quaint, or unique shops along Main Street and back roads. What can the experiences of the past couple years tell us as we begin our futures today?

Like most dealers, our customers faced their own economic crisis in some form or another. Many of our friends lost jobs, homes, and hope. Most of us watched from the sidelines as our friends and families took the brunt of the pain. Some dealers face severe financial challenges ahead.

As we march into the future together, try to remember that customer’s needs have changed during the recession. Our customers are not the same people they were a couple of years ago. We cannot expect the same results with the same offers.

One of the biggest advantages of being in retail is the ability to adapt according to the needs of customers without time delays. Responding to the customer should not mean waiting to see how our neighboring dealers respond to change in the world of antiques and collectibles. Be the first kid on the block this time. Find your growth opportunity by asking customers what they would like to see offered as your shop moves into the future.

One of the easiest and most cost-effective solutions comes from the internet. Our means of communication might have changed slightly, but the people doing the communicating still want to interact with others. They want to hear others and be heard by others. A simple, inexpensive, yet effective communication tool like TrafficWave can make the future of your shop brighter. Try it out! Embrace the tools that we have available!

As we move forward towards a recovery in the business of selling and trading antiques and collectibles, we need to talk to our customers to discover who they are today. Our customers changed with the times, not always by their own choice, but the economy did alter the lives of our customers. This alteration affected their views and expectations. Successful dealers must grasp the concept that change means improvements and enhancements as opposed to the negative connotations associated with the word change. Change is good and expected over time.

San Diego California

The most exciting, glamerous part of entrepreneurship comes from starting a new project or developing a future cash cow, but more often than not the real return on investment comes from cultivating the existing business proposition into a better return on investment. Strengthening your company’s brand or building market share comes at a far cheaper price than starting from scratch.

In today’s current economic environment, investing resources heavily in uncharted waters might not be a luxury most small business owners can afford as readily as making growth changes in the existing business. Small manipulations can change the tides quickly, if done right.

When was the last time your antiques and collectibles shop changed the look of the entry into the shop? Have you invested in a website yet? Could a little dusting and decluttering improve your brand image? When was the last time you held an open house and invited the local Chamber of Commerce members to stop by for a grand-anniversary celebration?

Instead of celebrating a new idea in the hopes of renewing your entreprenuerial spirits, try putting some momentum back into the existing dream. Lean on higher-probability opportunities to grow instead of longer-term investments that could simply be poor bets. Look at what you already know and love for investments. After all, the future is what you make it!

San Diego Marine Graduation

Coca Cola Kitchen Collection

An essential element of specializing stems from a commitment to serving the needs of people. Markets consist of people who choose to become part of them. That means the merchandise or services offered to a designated market should reflect the needs, hopes, and dreams of individuals clustered together as a group.

By focusing on the market as opposed to a product the market might purchase, dealers of antiques and collectibles discover their true potential. Selling a specific product offers the advantage of learning about various interested markets, but limits opportunities to grow and maneuver in specific markets.

Consider the dealer who chooses to sell postcards as opposed to serving the postcard collector market. The dealer who sells postcards, a very specific product, spends resources very differently than a dealer who serves the postcard collector market. The dealer who serves the postcard collector market could easily offer services or products that might seem less than antique when the market finds them complimentary.

Preservation of antique postcards means branching out of antiques maybe as far as becoming a deltiologist, a person who studies postcards. Since paper collections require special care, serving the market naturally evolves into an increasing knowledge of preservation techniques. A deltiologist serving the market of postcard collectors could become a resource to collectors for storage systems and preservation materials.

The distinction between serving a niche market and selling to a niche market makes a significant difference in building a long-term small business and prospective growth in the market. Either selling a specific product to a market or serving a specific market presents opportunities as long as a dealer appreciates their own unique identity.

Antique Kitchen Utensils

Too often people assume their own economic woes reflect everybody else’s financial situation. Simply put, this assumption kills small business owners. The only financial situation a small business owner need be concerned with is their own.

Something called discretionary income determines your success as a dealer of antiques and collectibles. Discretionary income is the money people spend where they want to spend it. If a customer just has to have something you offer, they will come up with the money somehow to make the purchase.

People find a way to buy what becomes important to them. As a dealer of antiques and collectibles, try to remember that the economy as a whole does not determine your sales. The determiner of your sales comes from the value your customer places on the offer.

As a small business owner, think of yourself as a provider of the necessities. The more necessities you provide your customers, the higher your sales grow. More sales mean fewer economic woes of your own, regardless of the economy as a whole. Start accelerating your small business out of recession by making offers potential customers cannot ignore.

Need some inspiration, read Modern Merchandising Sells Antiques.

Imagine if every single customer that walked into your shop bought an antique or collectible before leaving the store. How much would average sales increase? How many dealers would keep the doors open for another year? For many small business owners, the difference between a profitable year and business failure is the difference between one small purchase by a few more customers each week or the same number of No Sales.

Economic woes force more than a few dealers to consider bolder proactive steps to ensure customers walk out the door with a bag of merchandise. Consider removing the ability to leave the store guilt free without making a purchase. Relocate your point-of-sale counter as close to the exit as possible and make sure every customer feels an expectation to spend money before leaving.

Browsers do not become buyers if never enticed to pickup merchandise and imagine the piece as their own. Merchandising plays a huge role in retail sales. Pay attention to merchandise that attracts the attention of customers. Arrange top sellers with less interesting pieces or high profit pieces in the collection to drive sales. Offer to hold antiques and collectibles at the counter until a shopper finishes browsing.

If a shopper asks about a specific item, you can bet dinner that the customer could become a buyer of something with a little friendly conversation. Never accept a “no” in response to an offer of assistance if your shop needs a sale. Keep talking to warm up your customers and make them feel at home. Find out what they want to buy and then show them the options!

Instead of another “big sale”, explore different options to tease and tantalize your potential customers. Aren’t most entrepreneurs creative as well as adventurous? Did your Business Plan consider a recession or tight credit market? Eventually, the shortfall in revenues must come from proactive solutions that last longer than a day or two.

Aggressive marketing campaigns become important when consumers must choose more carefully between alternative spending choices. Let your customers know you value their business. Place yourself between customers and the door to remind them that you depend on their purchases. Engage them in the shopping experience while in your shop. Become friends with your customers and help them find whatever they were looking for when they came into your shop. Ditch the nonchalant attitude when you need a bold proactive approach.

Work Cited:
Kavanagh, Larry. “5 online metrics to maximize all that data. Work with the numbers; don’t be buried by them”. Catalog Success. May. 2009. p. 33.

An automatic income source that contributes regularly to the coffers appeals to most dealers of antiques or collectibles. Unfortunately, waiting for free money dropping from the sky and signing up for all the websites claiming riches without work probably won’t pan out for most of us. Although a few simple steps may help build a reliable source of income to supplement retirement living without making a person feel back to work.

Consolidate or do more with less. Save yourself thousands of dollars in inventory, payroll, and overhead by consolidating your collection down to a select few pieces suited for a booth in a local mall or the occasional flea market. Focus all energy and consumption of resources into a small line of products and services.

Demand pay-as-you-go scalability. Forego any long-term commitments and insist on the ability to adjust according to current volumes. Don’t lease more space than you need, buy more product than you want, and forget yearlong advertising contracts. These days the terms are negotiable.

Make restoration easy. Closing the business should be uncomplicated and straightforward just in case the need arises. Replacing sold merchandise should be as easy as making a quick call or sending an email. Restoring the business to a previous state should not require something akin to moving the Appalachian Mountains.

Plan your antiques and collectibles business to last even if your situation changes. As sales grow, make sure that the shop consumes no more of your free time or physical and mental energy. Taking advantage of malls or using online resources may be the best solution for an attractive supplemental income without the full-blown consequences of a business. Supplementing retirement income with an antiques and collectibles shop makes sense for many retirees.

Besson Trumpet

Besson Trumpet

Classic Trumpet

Trumpet Collector's Delight

Wonderful Besson Trumpet

Dealers often dismiss the value in customer reviews and ratings in their website designs. Fearing negative comments or ratings might drag down sales in an already depressed economy some dealers refuse to make the addition to their online presence. In fact, negative customer reviews and ratings offer an opportunity to improve sales to an unprecedented level.

Antiques and collectibles shops that utilize consumer reviews stand a far better chance of discovering true desires of customers. Is there a better way to discover why people buy from your shop? Ever wonder what people do with some of the things they buy? Would you market differently if you knew what your prospective customers wanted to know and how they wanted to learn that information?

Stop thinking of reviews, ratings and comments as a selling tool and start analyzing information to improve product offerings, add services, and market differently. Develop a new forecast of future demand that suggests increases, decreases, and eliminations in inventory.

Customers today want to know the whole story so they can make an informed decision. Let customers help each other in the decision-making process. The Internet obviously changed the direction of many small businesses and there is no reason the Internet cannot contribute to the success of an antique shop. Relevant and timely information costs little to acquire with a web presence.

Work Cited:
Keenan, Joe. “Wine enthusiast shoots for the stars with ratings and reviews”. Catalog Success. May. 2008. p. 12.