by 
MTank411
ANSWERS: 7
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If like a son or daughter or grandchildren take over when they die.
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I can't answer for all of them of course but the small town grocery store in my town stays in business because he caters to people who live in the area. He will get what you ask for and he extends credit for the month. The local hardware keeps his prices competitive enough that it is not worth driving into town when you need a quick pick up.
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They bought the land and building when it was cheaper, and over the years it has increased in value and their mortgages are still low. They have little or no other labor to be paid, and they have excellent credit with their vendors so they get discounted rates, or bulk pricing for small quantities. They also have very loyal customers and very little loss of product or shoplifting problems to increase expenses. They only accept credit from reputable people (meaning store credit for regular customers, or local businesses that pay monthly) and they cater to the community. If someone can't drive to the store, they may offer to deliver it to a regular customer. Their reputation goes strong with them.
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A successful small retail store can generate a surprising amount of business and be very profitable. If an entire family is involved and labor costs can be kept low, a small mom and pop business can do very well.
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Mom and Pop stores are about quality over quantity. They aren't selling in mass quantitys so you are more likely to find good quality items that may be made from locals, as opposed to mass produced products.
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people like myself prefer these "personal" stores rather than the big WalMart type stores
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GOOD ONES STRUCTURE THEMSELVES WITH SYSTEMS,RULES,PROTOCOL, AND PLANNING OF A FORTUNE 5OO COMPANY. THEY VISUALIZE THEMSELVES AS THEY ARE CURRENTLY AND AS THEY HOPE TO BE IN THE FUTURE. IT IS THE CONSISTENCY OF PURPOSE THAT HELPS THEM DELIVER AN EXCELLENT PRODUCT. IT IS AN EXCELLENT PRODUCT THAT KEEPS THE CUSTOMERS FLOWING. IT IS CUSTOMER FLOW THAT WILL FUEL THEIR GROWTH. IT IS THEIR GROWTH THAT WILL ONE DAY RELIEVE THEM OF THE 'MOM AND POP' LABEL. BEFORE YOU KNOW IT, 'MOM AND POP' ARE BEING PUBLICLY TRADED ON THE NYSE....AINT AMERICA BEAUTIFUL.
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