Small Businesses Step Out Of Black Friday's Shadow
"You always have to have something different on the two days after Thanksgiving to get customers in," he says.
A search of the special web page set up for Small Business Saturday reveals many businesses that most people don't think of as places to buy gifts, including restaurants and dry cleaners taking part. One such business, Dublin Cleaners in Dublin, Ohio, has experienced a sharp increase in business over the last three years on what is typically the store's slowest day of the year. Owner Brian Butler says customers want to take advantage of the $25 rebate. Last year, his Saturday after Thanksgiving revenue was up 300 percent from the same day in 2009, before Small Business Saturday began. The revenue increase was enough to offset the $4,000 to $5,000 in transaction fees he paid to American Express for the year.
Although the Thanksgiving weekend is shopping-focused, American Express purposely created the program so that any small businesses could take part. The company has found that restaurants are the top choice for consumers wanting to use the $25 rebate, followed by bakeries, clothing stores, gift shops and bookstores.
Butler isn't offering any discounts on dry cleaning, but uses the $25 savings from American Express as a way to build his customer base. He starts by sending e-mails to customers and advertises on Facebook and Twitter about the savings. One Tweet reads: "AmEx will pay your tab in our store. No strings!!!"
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV