Closing on Sundays could help your business?

by | Nov. 02, 2009

Everything Else

On the surface, the idea of sacrificing fourteen percent, or one-seventh, of a retail store’s potential selling hours seems absurd enough. To do so on a day of the week when most consumers have a day off seems to be even more damaging for the prospects of a retail business. Customers want to purchase goods and services at times that are convenient for them. Many business models revolve around catering to the consumer and this often includes long hours particularly on weekends.

I am familiar with a number of businesses that are closed on Sunday, including two examples that are extremely successful: R.C. Willey and Chick-fil-A. What is most interesting about both businesses is the fact that they appear to use their Sunday policy as a competitive strength rather than an impediment that must be remedied. Behind the success of both businesses are important psychological tendencies that, over a long period of time, have expanded competitive moats.

Let’s take a brief look at the characteristics of each business and then try to draw some lessons from their success despite a policy of remaining closed on an important day of the week.

Read the rest of this story at gurufocus.com
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