The Best Independent Retailers: Surviving and Thriving

By Al McClain

At the recent IIR Fusion Conference, Robert Spector, the author of The Mom & Pop Store: How the Unsung Heroes of the American Economy are Surviving and Thriving, talked about what it takes to operate a successful independent store in today's environment. In a world dominated by chains, especially low-priced chains, he identified some key characteristics of independent retailers, and highlighted some of those that he thinks are uniquely successful.

Key characteristics of successful independents:

• Owner/founder needs to think like an independent.
• Have a singular entrepreneurial vision that is hard to replicate.
• Must be passionate about the business.
• Must be persistent.
• Work hard and do whatever it takes to succeed.
• Must be willing to adapt to change.
• Connect to the community.

Here are some independents that Mr. Spector particularly likes:

• Octavia Books, New Orleans
• Hotwire Online Coffee House, Seattle
• New London Pharmacy, New York City
• Murray's Cheese Shop, New York City
• The Great British Pine Mine, Kensington, MD
• Furst Florist, Dayton
• Wassler Meat Market, Cincinnati
• The Soda Pop Stop, Los Angeles
• Weiss House Furniture, Pittsburgh
• Los Pinarenes Fruteria, Florida
• The Four Way Restaurant, Memphis
• AA Jewel Box, Tustin, CA

Discussion Questions: What's your favorite independent store? What does it do differently that motivates you to visit it regularly? Is there a lesson in what makes them special for other independents?

[Author's Commentary] Robert Spector painted an upbeat picture for independents in his talk, contrary to much of what we hear these days. I think part of that may be that the top-notch independent retailers he profiles in his book have two really important things in common: 1. Unique product lines; 2. Great service. It seems to me that the future is limited for independent stores selling the same assortments as the chains. Even with great service, it's hard to imagine building a successful business in today's economy if shoppers can go down the street and fill up their basket 10 to 20 percent cheaper. But, if you are able to specialize in a unique line or category, like Murray's Cheese Shop or The Soda Pop Shop, it should make it a lot easier. And, you still can't beat the great service that can be offered by independents.

• Robert Spector - website