My beer shop was doing well, but now sales keep dropping. Any advice?
Hi everyone. I'm 24 years old, and I've owned a draft beer shop in Kyiv for almost a year.
The first few months were pretty good, and the business was profitable. But then sales started to decline. For the past few months, I've been losing money instead of making a profit. Right now, I'm losing around 20,000–30,000 UAH per month, and I honestly can't figure out why.
I do have competitors, and one of them is literally about 20 meters away from my shop. However, they were already there when I opened, and at first they didn't seem to affect my sales at all.
Nothing significant has changed. I still sell quality products, keep the shop clean, treat customers well, and even expanded the assortment. Despite that, fewer and fewer people are coming in.
I'm sure there are things I don't know or don't see yet as a first-time business owner. Has anyone experienced something similar? What would you look at first? Any advice or ideas would be greatly appreciated.