In 2018, everyone and their grandmother has hopes of entrepreneurial success. Which means that competition for setting up a successful shop can be quite stiff. There’s clothes shops, bakeries, cafes and bookshops littering the High Street landscape. A new shop selling something or other seems to pop up overnight. Standing out from this crowd is vital in order to find success for yourself.
With that in mind, what exactly goes into starting a successful shop in 2018 without falling over the first hurdle?
Find the Right Space
A successful shop comes, first and foremost, from having a great physical presence. Which means choosing the right retail space to base yourself in. Location, accessibility, price and size are generally the biggest questions you need to ask before renting a location. After all, you want to make sure people actually come to your shop without breaking the bank.
There are likely to be a few diamonds in the rough waiting out there for you to find when it comes to your shop’s physical space. Keep an open mind and don’t be afraid to keep looking if somewhere doesn’t feel right, it will likely stay feeling wrong many months later!
Stay strong and find the right place for your shop to find success, not simply the first place that you see.
Okay, so this may seem counterproductive to a more sensible goal, like making money. But, it doesn’t have to be! Sometimes great success doesn’t have to come from following the same tried and tested business formula as everyone else. Instead, you can add a sense of uniqueness to the shop that stems from your own creativity.
Doing so gives you a USP that your neighbours, or better yet your competitors, won’t have. And having something interesting to set your shop apart from the rest is also great in that it helps people to remember you, and want to come back!
Of course, there’s such a thing as being too creative. But it’s easy to curb yourself back if you feel it going in that direction.
Choose a Great Product
So, in order to open a successful shop, you need to stock something which people will want to buy. It may seem simple, but it’s possibly the hardest step in opening your own shop. A successful product means very different things to many people, as it can vary vastly depending on the demographics of your area.
An older population will love a shop full of conservatory furniture and patio garden furniture. The younger generation? Well, they may prefer a shop full of niche coffee blends or something more along those lines. Do the research to find out what your particular demographic wants before opening a shop, otherwise, you may be selling something that your local customers don’t want to buy!
Set Up An Online Store
Sometimes a successful shop comes from selling products both in a brick and mortar shop, but also online. Convenience is the name of many retail games in the modern day, as people want access to products without having to go to a store necessarily. Offering both options to your customers will immediately present your store as appealing to a broader customer base.
Finding success in your very own shop won’t be an overnight success. Building up a loyal customer base, making the local community aware of you and driving sales through marketing are things that tend to take a number of weeks (even months). However, so long as you take the right first steps, to begin with, you should find yourself with a successful shop by the end of 2018!