The double-dip recession may have seen countless businesses crash and burn, but from the proverbial ashes have sprung thousands of small businesses and sole traders, many beginning life as a second job to supplement the day job.
But when things are looking a little rosier, there comes a time when it can make sense to quit the day job and really invest in that small business. Here are two retail design and planning tips for someone thinking of making that first foray into a permanent retail space.
1. Use pop up shops to assess the market
In retail, pop up stores are a superb way to get a good grip on the market. They can be especially useful for companies that have previously existed solely online. The credibility of pop up spaces has skyrocketed in recent years, with big hitters like Nike and Net-a-Porter opting to use pop up shops for new product releases and marketing. But for the fledgling business they can offer arguably the most effective, low risk market assessment platform in retail.
2. Use free marketing
Waiting until opening day to drum up interest is a mistake. It’s crucial to spread the brand message via social media and cheap/free advertising techniques. Things like money-off vouchers and special offers need to be planned well in advance. Marketing can be expensive, so turn to a local company who are more likely to offer tailored small business packages.