Building on success
Being part of a top brand helped experienced entrepreneur Minesh Patel to diversifying and reinforce his store’s place in the community Veteran retailer Minesh Patel recently became a post office franchisee, adding to his portfolio of Premier stores
For experienced retailer Minesh Patel, taking on a Post Office store was an opportunity to serve local people.
The area had previously lacked a convenience store and by adding a Post Office to his Premier store, Minesh felt he could drive up takings and provide facilities for local customers.
“We’re the only convenience store in the local vicinity,” said Minesh. “And the only shop beside a busy road, so we get local and passing trade.” Minesh said his decision to take on a Post Office was influenced by the demands of his repeat customers.
He explained: “There was a demand for it in the local community. We saw an opportunity to serve local people. Now they can walk to the shops if they need.”
Diversified Offering
Minesh already owned two small businesses with Post Offices attached, so he was familiar with the application process and could work out what practices would attract the most revenue.
One of his secrets is the diversity of his product lines, he said. “We run monthly Premier promotions. We like to mix it up, selling different product lines. We sell a good range of products.”
Minesh saw becoming a Post Office franchisee as a natural part of this process of diversification.
He noted: “The environment can be challenging for small retailers currently. But I believe the more services you offer, the more it brings people in.”
Minesh has worked in retail for nearly 17 years, acquiring his own business (with Post Office attached) in 2010. As such, he is sensitive to which policies are likely to ensure customer loyalty.
“Having reasonable prices is important. This helps ensure you get consistent footfall.”
Brand Recognition
The brand recognition of the Post Office is also hugely important.
“Post Office is one of the UK’s top 10 brands, and if you have a Post Office people will be attracted to your store.”
Customers, especially the elderly, are more likely to trust a shop which associates itself with a Post Office. This can be especially important given the number of financial scams around at the moment, Minesh explained.
“People may be reluctant to use private banking services, such as cash withdrawals. But with the Post Office brand in-store, it encourages trust. They believe in the brand.”
Minesh’s 3 tips
Understand your shop’s location and what clientele want
Ensure your prices are reasonable
Trust in the Post Office brand, and your customers will too
The feedback from locals about the store has been very positive, said Minesh.
“It’s been the talk of the village. Everyone finds it really handy. Local customers can come in and use Post Office facilities, such as pensions and banking, without having to resort to getting in a car.”