Saturday, October 6, 2012

Retail Business in Sumner (part 1)

My thesis is that Sumner Washington has a number of factors that could help create a successful business. But I would like to look for whitespace, something that is not already being done. There are two chiropractors/massage clinics, two pizza places, four nails salons all on or just a block off Main Street.

And if one considering retail you hope to find an idea that is unique enough that you aren't a "me too" and also not be essentially the same stock they carry in the Fred Meyer that is also on Main Street. If you are not familiar with Fred Meyer, think Wal-Mart Supercenter. There are two existing stores that I believe fill that bill:

  • The Bonney Lake Bicycle Shop of Sumner, has a solid line of bikes and accessories, friendly and knowledgeable staff. They service bikes, they will custom order a bike and help fit the rider to the bike, not just size, but for the intended use. Kathy and I got our bikes on Kauai from the local shop and that has been great. In Richmond VA, I tried to save money and we bought them from Costco. I adjusted the handlebars and brakes, but something just feels slightly off when we ride them.
  • Affordable Guitars is another example of really filling a niche. They say you can never have too many guns, knives, or guitars, so they get repeat business. The owner is friendly and knowledgable ( starting to see a trend here). He is also fairly picky about which product lines he will and will not carry, but will tell you where you can find what you are looking for if he does not carry it. And he has an awesome inventory of vintage guitars and amps that will take you back thirty years in a flash.

    On the other hand, as I study Sumner, I think I see two businesses that are not as poised for long term success though I truly wish them both the best. They are both awesome stores and Sumner is a richer place for both of them.

  • Sumner Appliance is a lovely shop and the town is lucky to have this resource. They will make you welcome if you wander in the store and it is more than just appliances, they have cabinets and such so if you are doing new construction or a remodel in the area it makes sense to wander in. My concern from a business perspective is that the Sears and Costco's of the world will undercut their pricing and many contractors have wholesale suppliers. On the other hand, have you been in a Sears lately? I dropped into one to get a couple Craftsman rubber hoses. Very little foot traffic, not many employees. Sumner Appliance may just have the last laugh.
  • I love cooking stores and The Simple Kitchen/Simple Tidings is no exception. Once again, you will be given a friendly greeting and find the staff know their way around a kitchen. They are even having a knife sharpening workshop. Nothing makes me sadder than a dull kitchen knife. And they have a great selection. My concern for this business model is that Fred Meyer just up the street has a large selection of cooking gear and at a lower price in many cases. Also, many people like to purchase their high end cooking equipment using the Internet. I know when we moved to Seattle, I bought my kitchen knives, flatware, pots and pans and our place settings from online sources. That said, anyone that loves to cook loves to browse a cooking store and that may lead to enough impulse purchases to keep the cash register humming.
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