Jack of all trades strikes gold
Ahmad Fairuz Othman
2009/11/10
A VALUABLE lesson in supply and demand led to Sim Hock Seng diversifying his store of goods at Gold Day's Collections Shop.
 |
| Today, the owner shows that diversification is the key to success as the shop sells practically everything you need, from an umbrella to a handphone. |
Sim, 45, learnt the hard way that specialising in one or two items was not profitable, especially in the lower and middle-class neighbourhood of Larkin Perdana, Johor Baru.
When he set up shop seven years ago to sell watches and women's accessories, he could not break even, much less make a profit.
On the brink of closing shop, Sim embarked on a new business strategy.
"I looked at other similar shops around the city, and I asked my customers and the residents here about their needs.
"Diversification is the key to better business. And customer service plays an important part, too. I make it a point to entertain everyone who walks through the door. I make sure that I wait on them, and not the other way round," said Sim, relating his beginnings as a businessman.
The father of four was previously an insurance agent. He decided to open his own shop for the sake of his growing family.
Now Sim is helped by his wife, Lum Yok Cheng, 40. They take turns manning the shop and fetching the children from school in the afternoons.
The name "Gold Day's" was picked because it would bring good fortune, according to feng shui.
These days, the shop stocks a mixed and mind-boggling array of items. There are canvas school bags, sling bags, waist pouches, caps, belts, T-shirts, earrings and slippers.
Sim said the bags were the hottest items during the end of school holidays, and before the beginning of the school year.
His clientele are as mixed as his goods, ranging from civil servants to blue collar workers who do their shopping in the evenings and at night.
People come to purchase everything from umbrellas to even handphones, which can be ordered in advance.
The canvas sling bags are sold between RM20 and RM39 each, while the school bags are priced between RM25 and RM59.
"The best quality school bags are sold above RM20 nowadays. These bags are sturdy enough to hold the heavy books that the children need to carry," said Sim.
Women's slippers and sandals are sold between RM3 and RM25 per pair. There is a variety of women's accessories such as silver earrings and costume jewellery, which are priced between RM5 and RM60.
T-shirts in bright designs are sold at between RM29 and RM35 each.
The shop is located at No 56, Jalan Susur Larkin Perdana 2, Larkin Perdana, Johor Baru. Its operating hours are between 10am and 10pm daily.
|
