Ep/021: Is Opening a Second Business Worth the Risk? Our Story
"When we got that phone call about the lady retiring like four years earlier than we had planned, it wasn't a question of ‘can we do this?’ but rather, ‘how are we going to do this?’"
Chyanne Smith
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In this episode, I’m joined by Darryl and Chyanne, a dynamic entrepreneurial duo from Canada who share their inspiring journey of building not one, but two thriving brick-and-mortar businesses. We dive into the unique challenges they’ve faced, from starting a hair salon to expanding into a boutique store. With backgrounds as diverse as hairstyling and oil and gas operations, Darryl and Chyanne bring a wealth of experience to the table, offering insights into the trials and triumphs of running multiple businesses.
What You’ll Learn:
How Darryl and Chyanne turned a passion for hair and photography into a successful boutique business.
The importance of cash flow and financial management in growing a brick-and-mortar business.
Their approach to finding the right staff and building a customer-focused team.
The impact of customer service on driving foot traffic and building loyalty.
How they use social media and data-driven marketing to attract and retain customers.
Highlights:
[00:00:00] The inspiration behind their first brick-and-mortar business and how COVID influenced their journey.
[00:04:00] Starting a boutique with a community-driven model, selling local goods on consignment.
[00:07:00] Expanding to a second location and the challenges of running two stores in different provinces.
[00:11:00] Navigating cash flow and the role of debt in scaling their business.
[00:18:00] How a lackluster wedding planning experience sparked their focus on exceptional customer service.
[00:25:00] Leveraging social media and data to drive traffic and boost sales.
[00:30:00] The importance of mental resilience and managing work-life balance as business owners.
Join the Conversation:
If you’re looking for more insights into building a successful brick-and-mortar business, join our Facebook group: Grow Your Brick-and-Mortar Business Success. Connect with other entrepreneurs, share your experiences, and learn tips for growing your store.
Don’t forget to subscribe to Storefront Strategies for more inspiring stories and actionable tips from successful brick-and-mortar business owners. Please leave us a review if you enjoyed this episode!
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Have a question or want to suggest a topic? Email us at hello@leemidlane.com.
Special Thanks:
Special thanks to all our listeners joining us for this journey. Your engagement and feedback fuel our mission to empower each business owner to succeed.
Stay tuned for more in-depth discussions, expert interviews, and actionable advice tailored for bricks and mortar entrepreneurs. Let's build strong foundations and thriving businesses together!
