We run a loyalty card scheme. For every 10 pounds you spend you get a stamp and every 10 stamps you collect you get a book up to the value of 10 pounds. Not great but not too shabby either. Customers stamps are kept on a card index behind the till, that way we can keep a record of their transactions.
So, a lady comes in at lunch and asks me to put 2 stamps on her card - £19.98. Date of last purchase? 11 December 2007. 2007! That's 20 months between purchases.
She only works round the corner.
Hmm.
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That's 20 months between purchases of over £10. Most paperbacks are under £10. So if she's only buying one book at a time, she won't have had any more stamps. Be fair!
ReplyDeleteIs this scheme different from the Wedge card?
ReplyDeleteFx
Maybe sometimes she forgets to use her card?
ReplyDeleteJust read the news - very sad to hear that you are closing. I visited your shop a few times when I was in London (and bought books too!) and followed your blog when I got home to Sydney. Best of luck to both of you.
ReplyDeletePlease consider selling shares in your store to your customers. We did this at Vox Pop a few months ago and raised enough money to deal with our most pressing expenses: $64,000 from about 125 people. CNN video about this event is on our frontpage: www.voxpopnet.net.
ReplyDeleteAdopt a valuation for your store equaling one year's total sales. If for instance $500,000, then issue 10,000 shares. Price shares at $50 and sell enough of the company to raise enough money to deal with the trouble. Don't bother researching the market for actual comparative sales value of a bookstore, etc. Presume that you have enough goodwill to sustain this 1-years-sales level of company valuation. The offering will essentially prove the valuation right or wrong. Form a new company board or community advisory board composed of shareholders. (Unless in fact you want to get out now, or of course if your problems aren't financial.)
Best, Andy
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