Forbes Suggests How
Forbes tells it like it is (http://www.forbes.com/sites/babson/2013/07/30/against-all-odds-launching-a-retail-organic-food). On July 30, 2013, in an article entitled "Against All Odds--Launching A Retail Organic Foods Business," the author, Candida Brush, said:
The dramatic rise in sales of organic foods and beverages from $1 billion in 1990 to $26 billion in 2013 has encouraged many aspiring entrepreneurs to start organic or natural food businesses.
After describing how easy it is nowadays to get started, for example, with an online retail outlet (http://org.enom.com/starting-online-organic-store-460.html), the Forbes article points out that more than 47% of retail businesses fail within the first 5 years!
How Then Succeed?
Have a differentiation strategy! Have a clear value proposition! Make sure that customers and the local competition know your social purpose. Candida Brush says:
My colleagues and I identify a "social purpose business" as one that is for profit (economic mission) and makes a social impact on the marketplace.
Have a Larger Societal Mission
Besides offering just another organic food outlet, base your business on a principle, such as changing customers' lifestyles to be healthier! Such a commitment to a larger societal mission can drive your business--differentiate it from others--and most importantly of all, attract and develop loyal customers.
The concluding theme: To overcome the odds in the rapidly growing and changing retail organic foods sector means more than just offering organic food products. It means a commitment to changing society!
Foster Change!
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