Planted throughout the cities and roads, you'll find produce stands,
small businesses like coffee shops, excursion outfitters and boutiques.
Not exact matches
Based on data that my company analyzed from thousands of
small businesses in verticals
like restaurants, retail, salons and spas and
coffee and tea, we estimate that the typical brick - and - mortar
business» monthly churn rate is shockingly high - likely in the 40 to 50 percent range, though there is huge variation.
Our company analyzed data from thousands of
small businesses across a dozen verticals
like coffee and tea, restaurants, retail, and nightlife, and our observation is that on average 20 percent of a
small business's customers drive over 72 percent of their visits.
In some verticals
like coffee and tea, the proportion driven by the «vital few» was higher and in the 80 percent plus range, and in some verticals
like retail it was slightly lower, but the principle of the vital few remained remarkably consistent across all verticals: A relatively
smaller percentage of customers drove the vast majority of visits and thus revenue for these
small businesses.
Like so many other
small business owners, by the end of the work day you are completely exhausted but still grab that cup of
coffee and crank through the night to work on your creative projects and follow dreams that you have had forever.
While great time and effort are spent on protecting against injury lawsuits (hot
coffee and the
like), that risk for most
businesses is relatively
small and, more importantly, can be insured against.