| If you are a small business owner of a antique | | | | chance to reach millions of new customers and "start |
| business, you have probably heard the "death knoll | | | | slicing up" their share of the smaller pie. The reduction |
| claims", been deluged with discouragement from the | | | | in shopping malls makes your "brick and mortar" shop |
| "gloom and doom"crowd and look frequently out | | | | more appealing to the customer who enjoys a new |
| your window to see if "the funeral procession" is | | | | adventure in a antique store (as long as he or she is |
| passing by...I am here to tell you that while antiques | | | | welcomed with enthusiasm) and well priced and |
| as well as all discretionary retail businesses are | | | | unique items to be tempted by. |
| challenged...they are not dead and won't be any time | | | | Willl the antique industry and store survive and return |
| soon! | | | | back to life? I think so. The antique customer is first |
| Almost every day I hear the constant comment | | | | and foremost a "collector" not unlike a museum. They |
| from some customers and a lot of discouraged | | | | collect things that interest them, have intrinsic value |
| dealers saying that the antique is industry is dead, | | | | to them and that they think will in time appreciate in |
| dying or disappearing. There rationale is: | | | | value. The number and longevity of museums |
| 1. The existing customer isn't buying. | | | | throughout the world is testimony that there is still |
| 2. The existing customer has bought all they intend | | | | interest in viewing and owning things of historical |
| to. | | | | significance on the part of many individuals. A private |
| 3. The younger customer isn't interested. | | | | collection of a "item of passion" for a collector is their |
| 4. Everyone that might be buying is buying online. | | | | private museum to be enjoyed by themselves and |
| I would like to give you "tough and committed" | | | | shared with friends...and perhaps ultimately sold for |
| antique dealers who have store fronts some counter | | | | profit! |
| intuitive insight and contrarian opinion about the "state | | | | The traits that will determine the"winners and losers" |
| of things in the antique industry". | | | | in this antique industry "shakeout" are: |
| For years the antique industry (like many other | | | | 1. Perserverence coupled with tight expense control. |
| industries in America) became over populated with | | | | 2. Exciting and unique merchandise flowed regularly to |
| part time, marginally committed participants who saw | | | | ensure newness to your repeat customers. |
| there opportunity to turn a "passion for garage sales" | | | | 3. Good value. The days of "obscene profit" are over. |
| into "off or on the books" profits with little day to | | | | $10 profit to $1 investment may happen occasionally |
| day efforts through the proliferation of antique malls | | | | but a more modest $3 to $1 sales price to cost ratio |
| everywhere! These dealers would "plop down" a | | | | probably will give better value and motivate the |
| security deposit, load up the SUV, get a few tables | | | | thinning "customer count" to purchase. |
| and cloths together and open up a Antique Mall | | | | 4. A good attitude. The last thing anyone needs (or |
| Space. The large size of this group proliferated a | | | | wants to hear) when they visit a store or business |
| huge amount of antique malls popping up on many | | | | for some quality shopping time is "gloom and doom". |
| main streets and malls throughout the United States. | | | | Motivation and enthusiasm are contagious...so is wining |
| The fallacy of this concept was the space was | | | | and growsing. If you want more positive customers... |
| expensive, add on percentages pretty high, and | | | | be a more positive shop owner! |
| marginally committed staff not having the same | | | | 5. Look for new ways to reach new customers. Pack |
| "vested interest" as a owner of a mall space would | | | | up the car or truck and hit the high, low, or medium |
| have. The dealers in the malls were not "retailing | | | | end flea market, antique show or swap meet with a |
| veterans" and in many cases found out at the end of | | | | load of business cards and great merchandise. Give |
| the month that instead of the "slush funds" that they | | | | the people who stop by a "preview" of your taste |
| thought they had created, a bill for the short fall | | | | and selection and invite them to stop by for a visit |
| between space rent and sales was waiting for them | | | | of the larger assortment in your shop. Give them a |
| on the first of the month instead of the hoped for | | | | discount coupon, if you want to fuel urgency, to be |
| check. A new "harsh reality" sunk in to the mall space | | | | used on their next visit. |
| tenants and they soon said this is not a good idea | | | | 6. Finally keep you store fresh. If new merchandise |
| and "bailed" in record numbers. The "bailing process" | | | | flow isn't possible with current cash flow challenges... |
| of mall space tenants created huge empty gaps in | | | | Rearrange your stocks so that the same items are |
| antique malls and led to a new reality for the antique | | | | presented in new locations, with new adjacencies and |
| mall owner "they are upside down on their rent due | | | | with new ways to visualize their use. You will find a |
| to the vacancies". This has led to record Antique Malls | | | | old item becomes a new sale by simply moving it to |
| closing their doors and hanging the "for rent" signs on | | | | a new location. |
| the front of the buildings. | | | | In summary when the going gets tough...The |
| What is the post mortem of this process? "Bigger | | | | committed antique shop owner should look at the |
| opportunities" for the surviving retail outlets for the | | | | situation as a opportunity to grow market share...Not |
| sale of antiques by getting a bigger slice of a | | | | toss in the towel! |
| (economically caused) smaller pie. This is a moment to | | | | The world is littered with businesses that would have |
| not lament the advent of online antique sales but | | | | been successful with a little more perseverance and |
| take advantage of it. The internet gives a dealer a | | | | patience! Quitting is easy...Winning is commitment! |