With a focus on reuse, second hand and sustainably produced products, Re: store has become a popular feature in Härnösand city center. With a collection of different brands, the mall offers customers more conscious consumption and unique products. But they have also faced challenges in creating a profitable business model. That's why Re:store has been working with BizMaker since last fall to design a better business solution.
Linda Thorén, CEO of Re:store and the driving force behind this change, together with BizMaker's advisors, has used innovation and design thinking to create a more profitable business model.
From challenge to opportunity
Linda, who has experience as a product manager and from developing brands, joined Re:store as CEO in early 2023. She quickly saw that it was a business with a promising concept, but finances that needed improvement.
-In the past, I have had a rather abstract view of innovation. Are we as a mall an innovation? How can it be used in already existing companies? I was curious to see how innovation can improve our offer.
With the help of BizMaker's advisors Cecilia Nordlund and Mona Sundin, Linda started to explore new business models. The first step was to understand the current problems and then experiment with developing solutions. The process of innovating the business model was visualized through intensive brainstorming sessions.
-"Cecilia sketched out different models on the whiteboard, making it easier to see how each change could affect our future," says Linda.
Results and outlook
As a result of the conceptual work, Re:store recently switched from a fixed square meter-based rent to a model where part of the rent is variable and based on sales.
-"We have packaged it as a service where the basic package includes everything you need to be an entrepreneur with us. It includes an exposure, cash register, cleaning, and staff. In addition, companies can buy services based on their needs. This gives all our businesses a chance to succeed and grow," says Linda.
Although the implementation of the new business model was not without risks, it has proved successful.
-"We were a bit worried that we would lose some of the businesses, but the fact is that almost all of them have stayed and we have even welcomed two new businesses," says Linda.
Although many of the changes have only recently been implemented, they have already started to show positive effects, and Linda sees great opportunities for the future. She also hopes that Re:store's journey will inspire other businesses in the municipality and beyond - and enable new ways of sustainable business.
Innovation management - Meet the future and boost competitiveness
In a changing world, it is important to have the right tools. Through BizMaker's innovation management processes, we help you manage change and evolve. We offer 4-6 free meetings to support organizations in their innovation efforts. As we do not compete with the free market, we will then help you to move on to private actors if you want further support in your innovation work.
Contact
Linda Thorén, CEO Re:store Höga Kusten
070 300 47 88, linda.thoren@restorehk.se
Cecilia Nordlund, Business Advisor BizMaker
070 557 90 03, cecilia.nordlund@bizmaker.se
