Which Symbol to Choose?
It's generally accepted that trading under a symbol banner is a good way to insulate small stores from competitive impacts. It's a fact that symbol independents outperform other convenience stores. There are many symbols from which to choose and it's very difficult sort out the right one for you. And the wholesalers are continually approaching independents to join their symbol group. How to decide which one to select?
- Operating capability and supply chain reliability is an important consideration as failure is this area can be very damaging to business.
- Marketing expertise is vital to ensure that there is a continuous and effective connection to consumers in the local catchment.
- Branding, imagery, look, and feel are key as these make a statement about what the store stands for.
But for me the over-arching determinant is cash profit. I'd be asking each wholesaler one simple question: "If I choose you, how will you help me to increase my cash profit?" and if they cannot be clear on this, they can't be selected. If they say "yes" they have to have a clear and measurable plan for cash profit growth. One that convinces you. Everyone is in business to make money and cash profit is king..
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