what is a one stop shop 
a one stop shop is a business that offers a multitude of products or services to its customers all under one roof a one stop shop can refer to a single physical location where the business can be carried out or it can refer to a company that handles a variety of goods or services one stop shops tend to be more convenient for customers as they don t have to go to multiple businesses to meet their needs big box retailers department stores and e commerce sites are often considered one stop shops understanding a one stop shopas noted above the term one stop shop refers to a business that offers different goods and services usually in one location this can be under one roof in a physical store or through a single website like amazon amzn the concept of the one stop shop expanded over time to include business services the nuance also shifted from a wide product offering to capture more of the customer s grocery purchase to offering all the complementary products and services to a client in a particular area for example the 1980s saw the rise of financial supermarkets brokerages like merrill lynch began expanding into retail banking insurance products credit cards and even real estate services 1the business strategy behind the modernized concept of a one stop shop is to provide convenient and efficient service that will create the opportunity for the company to sell more to customers this way a company can grow revenue by selling more to existing customers in addition to growth from new customers the terms full service as in full service broker and turnkey operation are sometimes synonymously with one stop shop history of one stop shopsthe term one stop shop may have first used been in conjunction with businesses that did all the work for that new staple of american life the car from sales to repairs to parts one such firm was the western auto supply the concept dates back to early 20th century america when a shopping trip meant going all over town to pick up meat from the butchers vegetables from the haymarket and bread from the bakery and that was just for groceries hardware supplies cleaning supplies and other household items required visits to even more places then as now people wanted to save time so stores responded by stocking a wider range of products so consumers only had to come to their location to check off the majority of their shopping lists companies took note and began changing the way they did business for instance advantages and disadvantages of a one stop shopthere are some obvious advantages to a one stop shop for consumers as well as the businesses operating them convenience is a big one if the firm that does your taxes can also help you with your estate planning and investing strategy it saves you from having to deal with multiple companies from the firm s perspective seeing all those aspects of your life also allows it to better tailor services in all areas to you if the firm sees that your tax bill is going up they can suggest strategies to minimize the taxes coming from your investments a high level of trust grows over time when a consumer uses a particular business more and builds a personal connection with it there may be loyalty perks for the consumer and the business gains a higher degree of confidence that the customer won t fly to another provider based on price alone expanding the offerings of products and services can provide a steady revenue stream for businesses this is especially true when times are tough since offering a variety of goods and services at different price points ensures that consumers are still shopping the downside of the one stop shop is embodied in the saying jack of all master of none while various services and abilities offered at a single institution are probably competent they may not be as expert or as inventive as those offered by professionals specializing in different fields of tax law or investing a client s options and choices may be limited not only to certain employees but also to its proprietary products and services dealing with a one stop shop may save money thanks to the firm s economies of scale but then again it may not the convenience of the one stop usually comes with a cost from the shop s point of view there are natural limitations on how many products and services one company can offer to a customer while maintaining superior quality some companies expand their suite of services too broadly eroding the core services that made them outstanding to that customer in the first place conveniencebusinesses can tailor services to consumers needsbuilds loyaltysteady revenue stream and foot trafficconvenience at a costconsumer choice may be limited to what a one stop shop offerstoo many offerings may erode quality of core servicesexamples of one stop shopswe ve noted several historical examples of one stop shops above including piggly wiggly and j c penney but there are others in different industries and markets for instance many banks offer their customers a range of services including basic banking lending investment advice and services and insurance policies major financial institutions like bank of america bac ally and wells fargo wfc are common examples of financial institutions that are one stop shops these firms can increase their business and their profits while saving their customers a lot of time and effort many healthcare facilities also operate as one stop shops a healthcare center that provides patients with routine and emergency care lab and imaging services and a pharmacy is also considered a one stop shop 