Wednesday, November 2, 2011

Abt Electronics vs. Best Buy: Why independent retailers succeed where big boxes fail.

http://www.forbes.com/sites/lauraheller/2011/10/28/abt-electronics-vs-best-buy-why-independent-retailers-succeed-where-big-boxes-fail/

I found this article interesting because I deal with retail stores like this one on a daily basis and it also sparks that entrepreneurial spirit.  This business started as a small mom and pop shop and has grown to a $400 million a year business.  In an age where we are drowned with advertising from the box stores (Wal-Mart, Best Buy, Sears, Target, and many others) it is nice to see that a store that finds value in customer service and doing things the right way to succeed.  Also I found it interesting that in a time where we are so drawn to finding everything via the internet (including the blog site) that a small business can still compete in that area as well by offering better pricing and customer service.  The thing that I did find most intriguing was when they talked about the store being privately owned.  This business does not have a board of directors or stockholder that they have to keep happy so they are able to make quick changes and implement new systems that will help the store without running it through a vote by its directors and getting it signed off on they just make the change and watch their profits continue to grow.

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