Setting Up A Pop-Up Store: 5 Tips To Make It Successful
Starting a brick-and-mortar business is a very big pursuit. Not only is the risk quite big, but there’s also the capital involved in coming up with your business. To that end, many budding entrepreneurs are finding it convenient and beneficial to do a trial run. This can be done by setting up a pop-up store.
What Is A Pop-Up Store?
A pop-up store is a retail establishment opened for short-term sales. They usually provide a unique, highly curated shopping experience for the customers through interior design, special packaging, and discounts or bundles on the items sold.
Pop-up stores are also great for mom-and-pop businesses that are still trying to penetrate the market. They may not have enough capital yet, hence the need to start small. When it grows and becomes successful, more pop-up stores can be set up in other locations, or the business can expand to a brick-and-mortar one.
If you’re planning to set up a pop-up store, here are six tips to make it a success.
Enable An E-Commerce Option
As a pop-up shop, it’s understandable that you may not be able to hold a lot of inventory. You’re constrained by the space limitation. If you harness the power of technology and use the proper online tools for businesses, you can move beyond that limitation for more sales. The key to doing this is by enabling an e-commerce option.
By this, it means setting up an online shop for your pop-up. You can significantly increase your sales and increase the likelihood of its success when you have more products to sell now. Your buyers can either pick up their online orders from your pop-up store or have them delivered to their doorstep.
Have A Clear Objective And Plan
Just because you’re setting up a temporary physical store, this doesn’t mean you shouldn’t have a plan. Like any other business, it’s just as important to have a plan of action with your objectives clearly stated.
Drafting a business plan gives your business a sense of direction. You have that defined objective of what it is you’re trying to achieve. Moreover, your business plan serves as the foundation of your business. It should also include your market and financial study, among others.
Having a business plan gives you a sense of accountability when you audit. You can check whether you are right on track with your pop-up’s growth metrics and finances.
Choose The Right Location And Time For Your Pop-Up
Because pop-ups are only temporary, it’s more important to get the location and time done right. Are there any local festivals or bazaars in your area that you can join? With the right timing and location, you can maximize your pop-up’s profit-earning potential during that timeframe.
As to location, it’s important to choose one that has a lot of pedestrian traffic. Even with the right marketing strategies, it can still be challenging to get people to your pop-up when it’s located out of the way. Malls, for instance, are a no-fail, especially for young customers.
Communicate With Customers Regularly
Even after your pop-up has moved to another location, you must communicate regularly with your customers. Ask them how their experience shopping in your store was. You must also keep them in the loop regarding your next pop-up location, available stocks, and new promos down the line.
Either way, communicating regularly with your customers can help steer them back to your pop-up, to shop again. If they might’ve thought you closed already permanently, that single message can make all the difference.
Master The Art Of Good Customer Service
Customer service is king. There’s no dispute over this fact. When you’re able to provide good customer service, you encourage repeat customers, even when your pop-up shop has moved to another location. You want word about your good products and services to spread fast.
Happy customers are the key to a successful business, pop-up or not. Yes, you care more about making sales, but that pursuit must never be at the expense of providing consistent top-notch service.
While temporary, this doesn’t mean that you shouldn’t strive to make your pop-up store successful. That desire is always there, so you can make your store grow. Remember that the very premise of pop-up stores is that they’re supposed to reach and engage more customers. The aim to grow and have a successful pop-up shop should be there. Take the ideas above one tip at a time, so your pop-up store won’t flop.