Susan Shaw and her husband Michael set up Sweet Success as a partnership in 1999. Since the opening of their first store they have grown to 5 stores in and around South East London. The idea to set up the business came from Susan as she felt there was a gap in the market for the old fashioned sweet shops she remembered from her youth.
Susan initially did research on the internet to find out about similar businesses in the
UK. She found a number of businesses in
Northern England and went to visit them to find out about their pricing strategies and the products that they offered. Susan then conducted primary market research in her local area.
The shop opened in Lewisham town centre in the summer of 1999. Susan had contacted local press to assist with her promotional campaign and had been giving out leaflets in the local area. Susan also looked at PR campaigns that she could do to increase the success of the business. She used sales promotions techniques in the first weeks of opening to attract customers to the shop.
After three months Susan felt the shop was running well and she was getting lots of customers. However, Susan was struggling with her finances. She was finding it difficult to pay her bills at the end of each month and was struggling to keep paying suppliers. She decided to apply for a bank loan to help assist her in the early stages and sort out her financial problems. Susan was given a loan from the bank for £10,000 which was secured on her house.
Sweet Success continued to thrive and grow throughout 1999 and 2000. At the beginning of 2001 Susan was considering expanding the business by creating an online catalogue.
1999-2000
| 2000-2001
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