Starting and running a successful business is the American Dream for many people, even though the obstacles to starting a business are many. Taxes, employee benefits, bank loans, and all the other red tape pertaining to the startup of a business venture are just the beginning; staying in business and growing a loyal customer base is an even greater challenge for a young company, and many don’t succeed beyond the first year.
When it comes to local brick and mortar stores and service businesses, this is especially true. Relying on local clientele means a business must be competitive and provide superior customer service in order to retain repeat customers and gain word-of-mouth referrals.
However, even a successful local business that beat the odds cannot expect smooth sailing forever, as misfortune or disaster can strike unexpectedly.
Tom Fralia, owner of All Natural Pet Supply in Hazel Dell and Southeast Vancouver, understands this all too well. Fralia had a thriving business serving satisfied pet owners from his Hazel Dell location. However, even with happy, repeat customers and a thriving business, his store was destroyed over the course of merely 40 minutes.
Fralia’s and others’ businesses located in the Holly Park Shopping Center sustained severe fire damage this last January, devastating not just their storefronts but in most cases, their entire businesses.
While it’s true that there is much more to a business than the structure that houses it, the importance of the physical location cannot be underestimated. Insurance coverage often only reimburses a fraction of the losses, and replacing destroyed and damaged inventory comes out of the pockets of business owners.
Additionally, a shop keeper cannot simply move to another location and pick up where he or she left off; it can take months to secure a lease, move in and make it customer-ready. During this time customers will likely have gone to a competitor.
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