Author: mark

I am a Director of newsXpress, a marketing group for newsagents keen for a bright future. You can reach me on +61 418 321 338 or mark[at]towersystems.com.au

Retail management advice for newsagents on lease negotiation

Major shopping centres looked appealing for years. All that foot traffic. The bright and shiny look. Being there was appealing to retailers, especially small business retailers, including retail newsagents.

Every shopping centre had a newsagency, often two, some even had three.

The Covid hit in 2020, and traffic to major centres crashed. It’s coming back, but it’s not where it used to be, in most centres traffic is yet to reach 2019 levels.

With good space availability, leasing execs are doing the rounds, seeking to fill spaces. In some cases they are cutting deals, while in others the occupancy cost is as high as ever.

My advice to anyone, newsagents and other local small business indie retailers. negotiating for space in a major shopping centre is: negotiate as if you have a better deal elsewhere. Don’t rely on it. Don’t visualise that centre as the only location for you. Have a viable plan ‘B’ and even a plan ‘C’. And, only agree to what you are 100% happy with.

Too often I see retailers agree to leases because of the appeal of bright shiny lights and what appears to be good foot traffic, only to rue the decisions for years.

By having viable and appealing options you allow yourself to have a more circumspect off the major centre leasing exec pitchy and that works in your favour.

I know there are people in our Aussie newsagency channel who say they get the best deals. It’s one thing to claim this and another entirely to prove it.

Ask for the evidence.

In one situation I heard about recently when the retailer asked for evidence of deals a party claimed they had achieved the response was oh, privacy. That’s a crock in my view. If you claim you can get an awesome deal, prove it … otherwise, it remains marketing spin not backed by evidence.

You are in your lease situation for 5 years at least usually. That’s a long time to be locked into something which with you are dissatisfied or unhappy. It is why you need to research carefully, to be sure you will be happy. It’s why you need to have options so you can compare before you sign anything.

If you are not happy with the lease, don’t sign it. It is better to walk away from a deal you done;t like than spending 5 years fighting chasing a hope or dream and losing money along the way.

One tip for those considering a shopping centre situation, have a plan ‘B’ option that is outside the centre and it is this different situation comparison that could be particularly helpful in landing at a decision. The two settings are physically and location different, they are usually financially different, too. This is what it is good for you to have the option with which you can compare. I have done this myself and pivoted to outside of shopping centre retail – less stress, lower occupancy cost and higher profit from sales = better business value.

Mark Fletcher
0418 321 338
mark@newsxpress.com.au
https://www.linkedin.com/in/mark-fletcher-tower/

Retail management advice on why a newsagency is a good business to buy in 2022

Newsagency businesses are selling quickly in today’s business market. They are popular in part because they had a good Covid, in part because of the relative certainty of revenue and in part because of the opportunities of change … which are abundant in 2022 and into the future.

Newsagencies are seen as being a safe investment, because of the multiple options and opportunities for driving value from the investment. But, equally, they are seen as a growth investment as the business is evolved into new product categories.

I’ve seen businesses sell within a few days of going on the market this year – city and country, shopping centre and high street.

This is great news for those in our channel keen to sell their businesses. It is also great news for people looking to invest in our channel.

We are in the midst of a kind of renewal in the channel. New capital, fresh energy, fresh ideas. This is all good for the channel.

What we are also seeing is more change in the channel, less cohesion as to what a newsagency is, and that’s okay.

There’s the core of papers, magazines, cards, and lotteries for most but not all. Outside the core we are seeing more engagement in more recent categories like homewares, niche gifts – not the usual low cost imported gifts but higher price point, locally made and less likely to be in mass retail.

So, it’s good news for newsagents selling their businesses and good news for people joining our channel by buying a newsagency business.

Like any business investment, you get out of it what you put in outside of the money itself, the strategies, energy, mood and embrace of change. It’s terrific seeing some of the fresh ideas coming with new business owners.

Yes, now is a good time to buy a newsagency business. There are good businesses for sale and plenty of opportunities for leveraging growth through them, and therefore a good return on your investment.

Now, before people get in a lather and say the old newsagency is dying, I agree. That purely old newsagency model that relies on legacy products is significantly challenged. But, plenty of older style newsagencies are doing well. These businesses present opportunities to evolve into new traffic and revenue models.

The future for the newsagency channel is strong, bring, valuable … because many of us have embraced change and that is attracting new shoppers with money to spend, new shoppers who are helping us drive up the overall average GP% our business achieves. This change is valuable and wonderful, it is liberating, too.

Mark Fletcher
0418 321 338
mark@newsxpress.com.au
https://www.linkedin.com/in/mark-fletcher-tower/

Retail management advice on buying a newsagency

There has been a surge of interest in buying a newsagency in 2022. Retail businesses in our newsagency channel are appealing, and, looking out in the market, there are some excellent opportunities.

A newsagency can be a good business to buy.

A common question I am asked by people who find me through this blog and other work I do with and for newsagents is what should I ask for when looking at buying a newsagency?

The question itself, when asked, indicates how green a prospective purchaser is when it comes to purchasing a business. My first advice is that they better understand the newsagency business of today, to understand what they could be buying into.

Here is an updated list of data I suggest prospective newsagency business purchasers access from the vendor or their representative:

  1. P&L from the accountant for the last two years. i.e. not a spreadsheet created for the purpose.
  2. A list of add-backs used to achieve a profit figure on which the asking price is based.
  3. Tax returns for the same two years. While note always appropriate given business structures, they can provide a cross check with the accountant P&L.
  4. Sales data reports, for the last two years, from the POS software in use – to verify the income claim. This source data is key.
  5. Sales data reports from the lottery terminal to verify the income claim.
  6. BAS forms to confirm data in the P&L.
  7. A list of all inventory in the business including the purchase price and date last sold for each item. And, copies of invoices from which you can randomly select to verify.
  8. A copy of the shop lease.
  9. A copy of any leases the vendor expects you to take on board.
  10. A list of all forward orders placed on behalf of the business.
  11. A list of all employees: name, hourly rate, nature of employment, start date, accrued leave and accrued long service leave.

This is good basic information, a starting point, which will enable any purchaser to undertake reasonable assessment of a business.

My advice to newsagents looking to sell who may be concerned about this list is: think about it now and focus on your business so the data I have listed looks good. The time to prepare your newsagency for sale is every day you are in the business.

This is why I say every day is your pay day. Run a smart, lean and profit focused business and you will have a good pay day today and a good one when you come to sell.

The most appealing businesses are those that are easier to run and are making money.

Sure a purchaser can turn a business around. They should get the rewards if they are expected to do that for your business.

The price you can sell your business for will be based on what it is making now.

Mark Fletcher
0418 321 338
mark@newsxpress.com.au
https://www.linkedin.com/in/mark-fletcher-tower/

Management advice for new newsagents, for anyone who has bought a newsagency

Before you get to the list, consider  consider the type of newsagency do you want to run: retail or agency. In my opinion, retail has growth opportunities and relies on you whereas agency is flat or declining with others in control of much of your business. I am more interested in retail.

You drive business value by playing at the boundaries of the business, broadening what you sell, the price points you can achieve and the new faces you can attract. Attracting new shoppers has to be a key focus as this feeds into other metrics.

Plenty of people offering newsagents advice on how to run their businesses and what to stock are not newsagents, not even retailers. Often, they are not business owners with a vested interest in your success. Be cautious about advice offered, especially from supplier reps. Their needs are likely not your needs.

I own the newsagency software company supplying more newsagents with software than all others, I also own the newsXpress marketing group and I own 4 newsagencies. Best of all, every day I get to work with retail experts, retail practitioners. They have the best advice, from lived experience, successes and failures. In offering advice here I’m not trying to make money off of you. The advice is offered free to anyone to read and use or not.

Here’s my updated list for new newsagents:

  1. MAGAZINES.
    1. Arrive invoices through XchangeIT – no other way.
    2. Only sell magazines by scanning. Never use department keys.
    3. Do not label all magazines. Do not label weeklies or high volume monthlies.
    4. When returning magazines, scan out returns. Do this at least weekly.
    5. Do not early return magazines the day they arrive unless you have been sent too many. Often newsagent who early return deny the opportunity of sales.
    6. Early return at least twice a month – based on what is NOT selling.
    7. If you have sub agents – only supply them through the sub agent facilities in your newsagency software.
    8. Check your magazine account as soon as it comes in to ensure you have received all credits.
    9. Pay your magazine bills on time without fail – avoid being cut off for weeks without magazines.
    10. You control where magazines are placed, it is your shop.
    11. You do not have to put posters in the window. I recommend against this.
    12. You do not have to do big magazine displays – it is your choice. I see no evidence of it increasing sales.
    13. I recommend against letting magazine companies set up display unless you think they will help drive sales.
  1. NEWSPAPERS.
    1. You control where newspapers are placed, it is your shop.
    2. If you are regularly undersupplied, complain to the publisher as well as the supplying newsagent (if you do not have a direct account).
    3. Scan all newspapers you sell.
    4. Scan all newspaper returns – accurate data will be your friend in the event of a dispute
    5. You do not have to put out newspaper posters or place newspapers in a certain position unless you have signed a contract with a publisher agreeing to this.
    6. Manage your exposure to promotions where you sell stock for a tiny margin.
  1. CARDS.
    1. Cards have the largest %GP of all physical products you will sell (except coffee if you offer that). Treat cards with the respect that value demands.
    2. Think carefully before signing a contract.
    3. Pay for your own fixtures.
    4. Put out your own cards. Learn what you stock. Take ownership of this most important product category.
    5. Ideally, do your own card order. It’s your money being spent. Don’t leave this to someone else to do.
    6. Agree on an ordering process with your card co. account manager, for example what number of cards remaining in a pocket to order on.
    7. Immediately report any over or under supply.
    8. Trust your data ahead of your gut and ahead of sell-in reports from suppliers.
    9. Pay on time or risk being cut off.
    10. Discount seasonal stock at the end of the season for a couple of days to pick up stragglers and make an extra few $$$.
    11. At least every two years (preferably annually) undertake a range review of sales by pocket based on your sales data, not card company provided data.
  1. STAFF.
    1. Decide on your pay rates. The award is best used as a base guide. It’s likely that to attract and retail good staff you will need to pay above award.
    2. Ensure everyone has a list of things to do each day.
    3. Have a documented position description against which your employees are measured.
    4. Have a written roster every week.
    5. Have a structured process for handling annual and sick leave.
    6. Use payroll software for record keeping.
    7. Pay always on time and preferably by electronic transfer.
    8. Pay super on time. Do not start someone working for you unless they have provided a super account number with their tax file number.
    9. Change your roster regularly for casuals.
  1. STOCK  AND SUPPLIERS.
    1. Every day, look for opportunities to attract new people through what you choose to range and how you display it.
    2. Do not buy for yourself, what you like.
    3. Only see supplier reps who have made an appointment.
    4. If a supplier rep tells you something will be a success, ask for the evidence.
    5. Use your computer system to guide ordering of stock – order based on sales.
    6. Order to a budget.
    7. Scan everything you sell.
    8. Scan out personal use stock.
    9. Set your own mark-up policy for items that are not pre priced.
    10. It is easier to discount than increase prices.
    11. Do not pay for an external stock taker – do it yourself through the year.
    12. Check high theft risk items like weekly or fortnightly.
    13. Arrive and price stock on the shop floor, and not the back room. You’ll sell more this way.
  1. SHOP LEASE.
    1. Negotiate your own lease. Paying someone who is not financially invested in the outcome is likely to not get a better deal for you, despite their pitch.
    2. Read your lease.
    3. Make sure the permitted use clause serves the future needs of your business.
    4. Pay on time otherwise you could be locked out.
    5. Do not agree to a new lease unless you have read the entire document and are prepared to agree to it in its entirety.
    6. Conduct discussions with your landlord in writing to maintain a paper trail.
  1. GST.
    1. Complete your BAS on time and make any necessary payment – to reduce the opportunity for you being audited.
  1. FINANCE AND OTHER MATTERS.
    1. If you borrowed to get into your business, start paying this off from the first week, make progress everyweek. This avoids you having a challenge when you come to sell the business.
    2. Pay yourself a wage or at least accrue this in the accounts.
    3. Integrate with accounting software like Xero – keep bookkeeper costs down.
    4. Ensure workcover (workers comp.) cover is up to date and maintained.
    5. Ensure you have appropriate council permits for what you sell – i.e. food.
    6. Have a structured banking process that ensures that cash is tracked at all steps and at all time.
    7. Take a data backup every day. The best approach is an automated cloud backup – ask your software company.
    8. Bank every day and bank the takings for each day separately to make reconciliation easier.
    9. Use your software to manage the end of shift process to drive consistency and accuracy.

As I said at the start, this list is evolving with time. I hope it is useful to new newsagents and would be newsagents, to understand some of the day to day tasks you cannot afford to get wrong.

Footnote: I first published a version of this advice 7 years ago.

Mark Fletcher
0418 321 338
mark@newsxpress.com.au
https://www.linkedin.com/in/mark-fletcher-tower/

Shop at your local newsXpress for Ravensberger jigsaw puzzles

If you are in the market for a jigsaw puzzle, especially a ravensberger jigsaw puzzle, consider your local newsXpress of our online jigsaw shop.

newsXpress is grateful to offer Ravensberger jigsaw puzzles for jigsaw lovers and those who buy gifts for them.

The range of Ravensberger jigsaw puzzles newsXpress stores have is big. Our online jigsaw store has so many.

Here at newsXpress, we love Ravensberger jigsaw puzzles. We think they’re some of the best on the market, and we’re always excited to get our hands on the latest release. If you’re a fan of Ravensberger puzzles too, then you’ll be glad to know that we stock a wide range of their products in our stores. So next time you’re looking for a new puzzle, make sure you pay us a visit!

Why We Love Ravensberger Jigsaw Puzzles
There are plenty of reasons why we think Ravensberger jigsaw puzzles are the best around. Firstly, they’re made from high-quality materials, which means they’re built to last. Additionally, Ravensberger puzzles are always beautifully designed, with intricate patterns and images that are a joy to put together. And finally,Ravensberger is always coming up with new designs, so there’s always something new to enjoy.

Our Range of Ravensberger Jigsaw Puzzles
As mentioned above, we stock a wide range of Ravensberger jigsaw puzzles in our stores. Whether you’re looking for a small puzzle to complete in an evening or a large puzzle to keep you occupied for days on end, we’ve got you covered. Plus, with new designs being released all the time, there’s always something new to discover. So what are you waiting for? Come and explore our range today!

We are excited to announce that Ravensberger jigsaw puzzles are available at newsXpress locations nationwide and at our online jigsaw shop! Ravensberger is one of the leading brands in the jigsaw puzzle industry, known for their high-quality products and unique designs. Whether you’re a seasoned puzzler or a novice looking for a new challenge, we’ve got just the thing for you. Check out our selection of Ravensberger puzzles today!

No matter what your skill level or interests in jigsaws, newsXpress has the Ravensberger jigsaw range to consider. With our unbeatable selection and friendly staff, we make it easy to find exactly what you’re looking for. So why not put down that electronic device and pick up a puzzlesthe whole family can enjoy? We promise you won’t be disappointed!

Your local newsXpress shop offers easy access to quality stationery for your home or small business

If you need stationery, a pen, copy paper, a notepad, a ruler …l any sort of stationery, consider your local newsXpress shop.

In choosing stationery to stock, we look for quality, because what value is stationery if you cannot rely on it.

If you’re in need of quality stationery for your home or small business, look no further than your local newsXpress shop! We offer a wide variety of stationery items, from pens and paper to envelopes and stamps, all at competitive prices. Plus, our friendly staff are always on hand to help you find exactly what you need.

Why Shop at newsXpress?
When it comes to stationery, there’s no one-size-fits-all solution. That’s why we stock a range of stationery items to suit every need and budget. Whether you’re looking for everyday essentials like pens and paper, or something more specific like a new set of business cards, we’ve got you covered.

We also understand that quality is important to our customers. That’s why we only stock stationery from trusted brands that are known for their durability and performance. So when you shop at NewsXpress, you can rest assured knowing that you’re getting the best possible value for your money.

Finally, we pride ourselves on providing excellent customer service. Our friendly staff are always on hand to answer any questions you may have about our products, or to help you find the perfect item for your needs. So come and visit us today, and see how we can help make your shopping experience hassle-free!

If you’re in the market for quality stationery, be sure to pay your local newsXpress a visit! With a wide range of products from trusted brands, competitive prices, and excellent customer service, we’re your one-stop shop for all your stationery needs. Come and see us today!

No matter what the occasion, your local newsXpress shop has the perfect stationery solution for you. With an extensive selection of high-quality products, we make it easy for you to find the right product for your needs. Stop by today and see how easy it is to take your correspondence to the next level!

For stationery for your home office or for your small business, your local newsXpress is a good place to start.

Thank you for considering local.

Your local newsXpress shop is likely to offer the best range of crossword magazines in your area

If you love crosswords or know someone who does, be sure to check out the range of crosswords at your local newsXpress shop.

We have Aussie crosswords, UK crosswords, American crosswords.

Your local newsXpress is likely to be a crossword lovers paradise.

Your local newsXpress shop is likely to offer the best range of crossword magazines in your area. With a wide variety of titles to choose from, you’re sure to find a magazine that meets your needs. And, if you can’t find what you’re looking for, our friendly staff will be more than happy to order it in for you.

Why newsXpress Is the Best Place to Buy Crossword Magazines
Here are just a few reasons why newsXpress is the best place to buy crossword magazines:
– We have a wide range of titles to choose from, so you’re sure to find one that’s right for you.
– Our magazines are published by some of the most reputable names in the business, so you can be sure you’re getting quality content.
– We offer discounts for bulk purchases, so the more magazines you buy, the more you save.
– Our friendly staff are always on hand to help you find what you’re looking for or to order in a product that we don’t have in stock.

One of the things that makes newsXpress shops so great for crossword lovers is the fact that they have a wide variety of titles to choose from. No matter what your skill level or interests are, you’re sure to find a crossword magazine that’s right for you. And with new titles being added all the time, there’s always something new to try.

Come visit. Take your time. See the range. There are usually many to choose from. We love people browsing our crosswords for themselves, or for others. Crosswords do make the most wonderful gifts! Oh, and age is not a barrier. People of all ages and situations do crosswords. We love them too!

So, if you’re looking for crossword magazines, be sure to swing by your local newsXpress shop. With a wide selection of titles and friendly staff always on hand to help, we’re sure you’ll find everything you’re looking for and more.

Your local newsXpress shop will be the best place to shop for Christmas cards this year

Here at newsXpress, we understand how important it is to stay connected with loved ones during the holiday season, especially during the Christmas season. That’s why we’ve made it our mission to provide our customers with the best selection of Christmas cards possible for Christmas 2022. No matter what your budget or style, we’ve got you covered.

Why newsXpress?
When it comes to Christmas cards, your local newsXpress is your one-stop shop. We’ve got cards for every budget and every taste, so you’re sure to find something you love. Plus, our friendly and knowledgeable staff are always on hand to help you make the perfect selection.

What’s more, we offer a variety of other services that can make your holiday season even easier. Need help addressing your Christmas cards? We can do that! Looking for the perfect gift for a loved one? Our team can help you find it. Whatever you need this holiday season, newsXpress is here to help.

No matter what your taste, you’re sure to find the perfect card at your local newsXpress shop. Whether you’re looking for a traditional card with a festive holiday scene or something more modern or even humorous, we have something for everyone. And if you can’t find exactly what you’re looking for, our friendly staff will be more than happy to help you find the perfect card.

Make sure Christmas time is merry and bright by shopping at newsXpress for all your Christmas card needs. With our wide selection and expert staff, we’ll make finding the perfect card easy and stress-free. So come on in and see us today! We look forward to seeing you soon.

This Christmas season, skip crowded shopping malls and long lines and instead head to your local newsXpress shop for all of your Christmas card needs. With a great selection of cards at affordable prices, plus the option to personalise your cards, we make it easy and convenient to get all of your shopping done in one stop!

We are locally owned businesses serving the local community. Your support of local newsXpress shops helps us in our support of the local community, and the charities Christmas cards we sell serve.

2023 diaries are out now at your local newsXpress, be ready for an awesome year

2023 diaries are out now at local newsXpress shops across Australia.

A new year is the perfect opportunity to get organised and set yourself up for success. One of the best ways to do this is by keeping a diary. A diary can help you keep track of your goals, appointments, and to-do lists, as well as providing a space for you to reflect on your progress.

We’ve put together a list of the best 2023 diaries to help you get started. Whether you’re looking for a traditional hardcover book or a sleek and stylish planner, we’ve got you covered.

Why Use a Diary?
A diary can be a helpful tool for anyone who wants to get organised and achieve their goals. A diary can help you keep track of important dates and deadlines, as well as appointments and tasks. A diary can also be used as a tool for reflection, allowing you to track your progress and identify any areas where you need to make improvements.

How to Choose the Right Diary for You
When choosing a diary, it’s important to consider your needs and what type of features will be most useful for you. For example, if you need to keep track of multiple deadlines and appointments, you may prefer a diary with a week-to-view or month-to-view layout. If you’re looking for a bit more reflection and self-improvement, you may want to choose a diary with space for daily reflections or tracking your moods. And if you simply want something small and portable, we have plenty of smaller diaries that will fit nicely into your handbag or briefcase.

take your time. Come in for a browse. Shop the range. We have so many on offer, so many for different needs and situations.

No matter what your needs are, we’ve got many 2023 diary options for you! Our diaries are available in a variety of sizes and styles, so you’re sure to find one that’s just right for you. Get organised today so you can start the year off right!

If you’re looking to get organised in 2023, a diary is the perfect place to start. By keeping track of your goals, appointments, and to-do lists in one central location, you’ll be able to make the most of every day. To help you get started, we’ve put together a list of the best 2023 diaries on the market. So what are you waiting for? Pick up one of these planners today and start making next year your most successful yet!