Maplins in trouble

[struth]

There isn't an obligation in business to chase the buck. It can be to give employment. Service to community. Give the owner and staff a living etc. Lots of companies reach this and just practice getting better rather than bigger

[Macca]

There isn't an obligation in business to chase the buck. It can be to give employment. Service to community. Give the owner and staff a living etc. Lots of companies reach this and just practice getting better rather than bigger

Well we are maybe going a bit o/t here but I see employment and service as welcome side-effects of successful business, not the point of it. if the business is not successful none of those things can happen. I'd argue that business creates society rather than the other way around. But you are right, the business does not have to keep getting bigger to be a success. It does have to make the right decisions about the future though, and sometimes that means getting bigger/changing, or going broke.

In Maplin's case they either made the wrong decision about direction or didn't implement it well enough. Ascribing it to 'greed' seems to be an emotional response based on an idea that business is somehow an intrinsically bad thing or at best a necessary evil we could potentially do without. I don't subscribe to that point of view at all.

[Marco]

There isn't an obligation in business to chase the buck.

Indeed. As a successful businessman myself, I think I'm qualified to comment on this.

"Chasing the Buck" (as a concept) is fine, but it depends on the type of business involved, and whether gross expansion (scaling up) is advantageous to the business model. Plus, more importantly, it has to be done RIGHT, and that means not simply being bigger, but also BETTER.

Yes, maximising profitability is what any successful business is about, but that won't happen, no matter how much the company concerned expands, *if* they lose sight of their core identity (the niche in the market and type of customer that the business was designed to target, and was created for, in the first place).

The *key* thing for ANY business, is understanding the needs of your target market, and then knowing how best to service those needs, by selling the right products. Only THEN will it be profitable! And in that respect, bigger isn't necessarily better.

The fact that Maplins got that so badly wrong, in the end (by taking the company in the wrong direction), is undoubtedly why they've sadly now gone under.

Marco.

[GrahamS]

Yes, maximising profitability is what any successful business is about, but that won't happen, no matter how much the company concerned expands, *if* they lose sight of their core identity (the niche in the market and type of customer that the business was designed to target, and was created for, in the first place). Marco.

Which is precisely what happened to Maplin.

[Minstrel SE]

I often wondered about them. I wondered how the core identity would support all those shops some of which seemed to be in semi prime locations. I think they have been fighting a losing battle for a long time and other internet suppliers must have been the final nail in the coffin. I dont think they knew how to adapt fast enough or in the right way. Who actually needs them apart from electronic project hobbyists? A fairly knowledgeable sector that can see other sources for what they need

I have wandered in for phono plugs and small bits and bobs but Im talking twenty plus years ago. I went in with dad many years ago but there was nothing of interest as I was browsing while dad was buying some urgently needed components. The key is urgently needed or I dont think he would have bothered with them.

Ive only ever been interested in their small components as its never been a place where I would buy a clock radio, amp, car alarm or anything larger than a phono plug.

I feel for people who dont have a job now but I dont miss Maplins in the same way I dont miss BHS or Toys R Us.

The internet has covered my needs since 2007 and Maplins didnt even feature in my search process

[Tim]

Probably not the brightest thing I've ever done, but I just placed an online order with Maplin for parts to externalise the PSU for my 1210. It went through, I have an order number, confirmation email and an estimated delivery date!

We shall see . . .

[struth]

May well be still working while in admin. Especially online side which is most likely to be profitable

[Sherwood]

Probably not the brightest thing I've ever done, but I just placed an online order with Maplin for parts to externalise the PSU for my 1210. It went through, I have an order number, confirmation email and an estimated delivery date!

We shall see . . .

You like to live dangerously! Aside from the fact that any faulty parts will probably not be returnable and that no warranty will apply, bear in mind that yur order will be packed by staff who probably are not highly motivated and may harbour resentment for the company! It's like ordering food in a restaurant when you have just insulted the waiter!

[Tim]

Yup, can't argue with any of that Geoff and I did ponder before ordering. But it's only a plastic component box, some nuts and bolts and pack of heat shrink, total order under 15 quid, so if it's goes tits up I'll have to write it off.

Bit like watching a car crash I guess, you know you shouldn't but you just can't help yourself.

[Tim]

Well fair play to Maplin, everything I ordered arrived as promised, on the day stated and well packed. Not sure I'd do it again, but they are still (just) trading. Doubt they will be saved though.