One of the most valuable assets
we purchase
when we buy an existing business
is the customer base.
So how do we make
the changes we envision
without isolating existing customers?
We move slowly.
Erin Johnson,
co-founder of
Fork & Anchor,
shares
“Our tactic was
to keep the store running
—business as usual,
working through the inventory
we bought through the business purchase,
while slowly,
over the course of a year,
phasing out things
we weren’t interested in carrying
and introducing new products
and a new menu.
It was important to us
to maintain the customer base
that had frequented the store for years,
and at the same time,
pique the interest of those
who’d never stepped foot
in the store
with our new range of products.”
Consider making changes
to an existing business
slowly.