“Tricks and Treats” of Retail
By Diane Crosby
Trick or treat! What was once an entrepreneurial dream of having one’s own store can turn into a grab bag of tricks we never anticipated. Running a business can be equal parts treats and tricks. The goal is to enjoy enough of the treats to make the tricks seem less frustrating.
Unless you have been to business school or worked hand-in-hand with a business owner, it is difficult to anticipate all the ins and outs of retail prior to opening a storefront. I vividly recall being shocked by the variety of taxes and fees businesses must pay. These include annual business licenses, unemployment taxes (state and federal), property taxes (on land, inventory and even fixtures), and a share of employees’ social security and Medicare. Banks charge fees when renewing loans, and the paperwork involved is a trick in itself. In fact, quarterly and annual paperwork for such things as taxes and financial statements, can send business owners into a tailspin.
A trick that often comes out of left field is when employees fail to show up. With new hires, it may mean they are never coming. When staff is short, the manager or owner is left to run the show. Also sneaking up on us are building maintenance issues. The toilet won’t flush. The air conditioning is blowing hot. The computers are down. The credit card machine has gone bonkers. The list is endless, it seems. Not only are these problems aggravating, they may cost real money to repair, as well as causing a loss of income from inconvenience to the customers. Unwelcome surprises hijack your time and energy.
Various local organizations, such as a Chamber of Commerce, expect time and money of you. The constant requests for donations by local clubs, in addition to your customers’ departments and charities, can seem like just the opposite of trick or treat. People boldly walk into your store asking for free items or a check!
The biggest trick of all may be dealing with logins, passwords, and websites that simply refuse to work. Computer updates and software subscriptions which have become vital to the operation of the store are endless sources of frustration for retailers. Customer service representatives pass your problem along from one person to the next without resolving your issue. Dealing with credit card misappropriation can similarly wreak havoc on business, travel, and vendors.
Being blindsided by major events, such as severe storms and more recently COVID and supply chain shortages, is trickery no one wants to encounter. The effects of major events are not unique to our industry, but they can land us in scary territory. With all these tricks landing in our laps, why would anyone keep going to work? Why would any sane person choose such a career path?
One thing that keeps us going back is the service we do for our customers. We feel needed as we supply those in public service with the tools they require to get their jobs done. Likewise, the camaraderie we experience with the staff at our store is a family atmosphere. We run a Mom and Pop business, and the folks who work for us are extended family. We genuinely enjoy their company!
There are other perks and treats to having a business. Travel is a big one. As we visit various places for work, we try to add in extra time for sightseeing, dining, and entertainment. We have broadened our horizons by attending meetings around the country and attending trade shows. Often, we rent a car so that we can enjoy places off the beaten path. With skilled employees back home, you can have flexibility to travel, as well as some leeway in your daily work schedule.
On a practical note, some work situations allow for the use of a vehicle and/or phone. Perhaps, you can have a home office which your accountant may count for tax purposes. Rely on your financial advisor for those possibilities.
A treat that we have enjoyed above all others is being able to hire our children, then later our grandchildren. One of our sons worked with us for years, becoming quite the expert at all things retail. These days, our older grandchildren are beginning work in the store. At first, they did special projects. Now, they can run the front counter.
For those who own their own businesses, the freedom to do things your own way can be a powerful plus. Working for corporations may limit your autonomy, but if yours is a small company, being able to bring your ideas to fruition is exhilarating. At our store, we decided to celebrate each employee’s birthday by buying lunch for all who are there that day. It has become a tradition we could not have implemented had we been under layers of management. Big innovations or small, store owners can test their ideas, a creative benefit beyond value.
While the crazed tricks of retail can be maddening, the treats outweigh them by far. We often focus on the difficulties and fail to count the volumes of gifts we receive through our careers. When the tricks come at rapid fire pace, it is easy to stop there and wallow in the mire. Remember the treats that have come your way as well.
There is no shortage of inspirational life quotes floating around on the internet, but this is a good one, written by and 1800s clergyman, “Better to lose count while naming your blessings than to lose your blessing to counting your troubles.”