Date established: 2006
Number of staff: 25
Number of lines: 13,000
Turnover 2007: £1.4m
Estimated 2008 turnover: £2.5m
Being all things to all people is a difficult trick to master, but for Ashit and Hitesh Patel, who run the Budgens store at Virginia Quay, in London’s Docklands, it’s a challenge they rise to every day.
The two friends set up shop two years ago and have made it their business to cater for a wide range of customers from city slickers to council-house tenants.
The owners appeal to their varied clientele by offering about 13,000 product lines, spanning a large variety of categories including halal and oriental foods, a juice bar and a deli counter. They also provide a café-style seating area where customers can eat. “This is not a typical Budgens store by any means,” says Ashit. “The Budgens principle of local sourcing does not really apply here because of the area we’re in and our broad demographic.”
Revenue is due to top £2.5m this year, up from £1.4m in the first year of trading and the pair say the key to their success is constant innovation. Customers’ average basket spend has increased from £4.40 to £5.50 in the past year, thanks to initiatives including oriental, healthy-eating and halal ranges.
Their latest initiative is a range of halal curries aimed at the local Muslim population that resides in the store’s catchment area. The curries complement other key halal lines, including sausages and other meats. “Budgens didn’t really like the halal range,” says Ashit. “But they have to understand that they, too, will pick up trade from our Muslim customers.”
Although Ashit doesn’t expect the store to turn into a one-stop shop for groceries, he does believe in offering a comprehensive food experience.
The food-on-the-go offer is a vital component for a store that is a magnet for the numerous white-collar workers who populate the offices of Canary Wharf and Docklands. When the lunchtime traffic hits the store, the on-the-go offer has to be spot on, says Ashit. “Availability is so important,” he says. “You have to have the stock for people to buy otherwise you won’t hold on to their trade.”
The pair have capitalised on the lunchtime trade by rearranging the store’s layout and display for grab and go, with a deli counter and a host of meal deals and lunch specials. Among the treats served up at lunchtimes are fresh paninis, pastries and hot beverages.
Evening and weekend traffic is also on the increase, driven by the tourist trade. There are three hotels within a stone’s throw of the store whose guests provide important traffic outside lunchtime hours.
The business partners are constantly on the lookout for new initiatives. The store recently became the first in the Budgens estate to feature a juices and smoothies bar. Other services include dry cleaning – an important resource for the local community, says Ashit.
Not every initiative has been a success – a digital photo booth has failed to take off, but this has not dimmed their desire to try out new ideas. Their strategy seems to be working – as does the store’s diminutive proportions.
Despite its abundance of variety in, Virginia Quay store is smaller than most Budgens – something Ashit views as a blessing in disguise given the current financial climate.
“Everybody’s cutting back at the moment but ours is not a big basket store,” he says. “People come in to top up so in that respect we’re not competing directly with the supermarkets.”
Store manager: Ashit and Hitesh Patel
Friends Ashit and Hitesh Patel took over the Budgens store at Virginia Quay in November 2006 and have already doubled its annual revenue through a series of initiatives. While Hitesh had previous experience of running a convenience store, Ashit swapped managing a card and gift shop for working with carrots and grapes – a move that has paid dividends. The pair’s philosophy is simple: to serve the community and “do something different” as demonstrated by their innovative juice and smoothies bar concept.
Number of staff: 25
Number of lines: 13,000
Turnover 2007: £1.4m
Estimated 2008 turnover: £2.5m
Being all things to all people is a difficult trick to master, but for Ashit and Hitesh Patel, who run the Budgens store at Virginia Quay, in London’s Docklands, it’s a challenge they rise to every day.
The two friends set up shop two years ago and have made it their business to cater for a wide range of customers from city slickers to council-house tenants.
The owners appeal to their varied clientele by offering about 13,000 product lines, spanning a large variety of categories including halal and oriental foods, a juice bar and a deli counter. They also provide a café-style seating area where customers can eat. “This is not a typical Budgens store by any means,” says Ashit. “The Budgens principle of local sourcing does not really apply here because of the area we’re in and our broad demographic.”
Revenue is due to top £2.5m this year, up from £1.4m in the first year of trading and the pair say the key to their success is constant innovation. Customers’ average basket spend has increased from £4.40 to £5.50 in the past year, thanks to initiatives including oriental, healthy-eating and halal ranges.
Their latest initiative is a range of halal curries aimed at the local Muslim population that resides in the store’s catchment area. The curries complement other key halal lines, including sausages and other meats. “Budgens didn’t really like the halal range,” says Ashit. “But they have to understand that they, too, will pick up trade from our Muslim customers.”
Although Ashit doesn’t expect the store to turn into a one-stop shop for groceries, he does believe in offering a comprehensive food experience.
The food-on-the-go offer is a vital component for a store that is a magnet for the numerous white-collar workers who populate the offices of Canary Wharf and Docklands. When the lunchtime traffic hits the store, the on-the-go offer has to be spot on, says Ashit. “Availability is so important,” he says. “You have to have the stock for people to buy otherwise you won’t hold on to their trade.”
The pair have capitalised on the lunchtime trade by rearranging the store’s layout and display for grab and go, with a deli counter and a host of meal deals and lunch specials. Among the treats served up at lunchtimes are fresh paninis, pastries and hot beverages.
Evening and weekend traffic is also on the increase, driven by the tourist trade. There are three hotels within a stone’s throw of the store whose guests provide important traffic outside lunchtime hours.
The business partners are constantly on the lookout for new initiatives. The store recently became the first in the Budgens estate to feature a juices and smoothies bar. Other services include dry cleaning – an important resource for the local community, says Ashit.
Not every initiative has been a success – a digital photo booth has failed to take off, but this has not dimmed their desire to try out new ideas. Their strategy seems to be working – as does the store’s diminutive proportions.
Despite its abundance of variety in, Virginia Quay store is smaller than most Budgens – something Ashit views as a blessing in disguise given the current financial climate.
“Everybody’s cutting back at the moment but ours is not a big basket store,” he says. “People come in to top up so in that respect we’re not competing directly with the supermarkets.”
Store manager: Ashit and Hitesh Patel
Friends Ashit and Hitesh Patel took over the Budgens store at Virginia Quay in November 2006 and have already doubled its annual revenue through a series of initiatives. While Hitesh had previous experience of running a convenience store, Ashit swapped managing a card and gift shop for working with carrots and grapes – a move that has paid dividends. The pair’s philosophy is simple: to serve the community and “do something different” as demonstrated by their innovative juice and smoothies bar concept.
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