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Entrepreneurship

What does it take to start up a retail store?

Yoav Farbey

 

English:
English: “Scan It” self-checkout kiosk at Giant Food store in Wheaton, Maryland. Customers use this kiosk to scan their bonuscard and then collect a scanner and bags. Bagging is done as the customer scans it in the store. (Photo credit: Wikipedia)

 

When you are starting a retail business you need to consider a variety of things. The first is location, you need to find out where your prospective customers usually shop, and the areas that they live in. Your customers will want to be able to reach your store with ease.

Once you’ve decided on roughly where you’re going to run your business, you need to decide on the type of property you need. Think if there is anything specific you’re going to need to showcase your products properly like POP displays or store fixtures. If you’re opening up something like a toy or gadget store, you may want to ensure there is space for customers to have a go on your items as this is a great way to get people interested. You might want to think of the kind of impression you want to give with your store. If you want an exclusive and intimate feel, like in a boutique clothes shop, you’ll want to go for a smaller property. Also keep in mind that you might need space for a little office, kitchen, staff room etc. Remember that your business isn’t just the shop itself.

A further thing to consider is the interior of your retail store, apart from the size, you should also consider the design. The store’s interior should match your brand, and entice people to enter. You may also want to consider getting expert shop fitters from John Worth Shopfitters, who would ensure that the job is done to the highest standards.

Finally, make sure you really are happy with your new retail premises. Once you move in, you’re going to be there for quite sometime. It’ll be unlikely that you’ll actually find the perfect place, so you will have to make some compromises. Even so, don’t compromise too much. An amazing location is not a substitute for adequate space and vice versa. You don’t want to get two months down the line and realise that the where you’re situated is causing your business to fail just because you wanted a slightly bigger window to set up a display in. Starting a new business is exciting, but don’t get carried away. Keep your head, be sensible and you’ll be sure to make the right decisions.

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Yoav Farbey

Contributing writer to the Startup Magazine.