Hi Everyone
I was wondering what if anything have other business owners had to action in response to competition.
Thanks
Paul
Hi Everyone
I was wondering what if anything have other business owners had to action in response to competition.
Thanks
Paul
Hi Paul
Our business had achieved good growth since it was founded in 1942. By the 1970s we were manufacturing sofas and chairs to be sold to small independent furniture shops all over England.
By the mid-1970s we began to see changes to our high streets. Small independent furniture stores were being replaced by large corporate stores such as Queensway and Kingsway. We also saw imports of cheaper products from overseas.
Although demand was good, and we were still manufacturing at high volumes it was to fewer customers.
By the 1980s we were finding it harder to compete.
How we responded to a changing market
We looked at ways to diversify to overcome strains on the business and decided to:
• Try selling direct to the public
• Open our showroom to the public on Saturdays and Sundays
• Advertise in local newspapers.
Word soon spread that you could buy a totally bespoke sofa and chairs direct from the manufacturer.
This strategy proved to be successful and in the late 1980s we decided to close our main factory and concentrate on the bespoke side of the business.
We re-developed our factory space to create 20 small business units ranging in different sizes and called it Riverside Business Centre.
We used 2 of the units for our own manufacturing and showroom spaces.
In 1990 we incorporated Furniture Direct (High Wycombe) Ltd and we have traded successfully for the last 33 years, producing bespoke pieces for the general public, and building a good reputation for high quality products and service.
In the early 2000s we changed our trading name to 'TailorMade Sofas' because we were advertising further afield, and this more accurately described our business.
We have also kept pace with changes in advertising mediums; developing a website to showcase our business has allowed us to reach more regions and even international customers. It gives us the ability to browse our photo gallery and watch videos that showcase a wide range of fabrics.
Riverside Business Centre has continued to successfully rent space out, and many tenants that began as start-ups have moved on as their business needs changed.
Today, we the Hawkins family are still carrying on the original family business of making sofas and chairs, albeit on a much smaller scale. But we are also generating a healthy income from renting out the business units, which ensures that the company will survive because there will always be new entrepreneurs looking for a place to start their new business.
Hope this answers your question.
Thanks
Melanie
Fantastic response Melanie thanks for commenting, you have such an interesting story.
Kind Regards
Natalie
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