SIOUX FALLS, S.D. (KELO) – January is known for being a slow time of year for many small businesses, but last year some were seeing a hard time even during the summer months.
“Discretionary spending is down and we’re not seeing folks shop with us nearly enough as we need to be successful,” Greg Koch, owner of 605 Running Company, said in July 2024.
Fortunately, things have been looking up since then for Greg Koch at 605 Running Company.
“2024 was a bit of a rollercoaster,” Koch said. “Since the summer we certainly rebounded here in our stores. We worked really hard. We made a lot of changes, we doubled down on our community investment and that’s been huge for us.”
He says that doesn’t mean it’s been easy, though.
“The thing about small business is rent comes due every month, our bills come due every month and so we have to consistently be busy,” Koch said. “We have to drum up business. We have to find ways to keep our doors swinging in order to be successful.”
When it comes to making it through the slower months, Koch has this advice for other small businesses.
“One of the things that often gets pushed aside and is really super critical is investing in service and training. Always be training,” Koch said. “That’s our competitive advantage in brick-and-mortar. We provide an experience; we provide a personal experience that can’t be beat. We’re able to be knowledgeable about products, we’re experts in what we’re doing. Every small business has that advantage.”
