There is a great little article available online which profiles a small business which has managed to remain open despite changes in the economy over time. The business is a medical supply store which sells important items such as compression stockings. These are items that patients need but don't always know where to find them; doctors in the area can recommend that they go to this store which will fill all of their niche medical supply needs.
The article is interesting because it points to the fact that the business could have taken a different approach to running its store. It could have opted to also sell side items such as adult magazines in order to boost profits. It didn't, and the business believes that's been the key to its success.
People who are in need of medical equipment don't want to go to just any old place on the corner. Sure, they need to go to a nearby store but they want to retain the feeling that they are working with professionals who are knowledgeable about the medical field. This store has done that by staying true to its original focus as a business selling items like compression stockings.
Question of the Day: Do you think it is the niche focus of this store that allows it to remain in business throughout time?
