As a business owner, you want to see your company move from strength to strength. If you work in the retail industry, you might have started out selling your products exclusively online until you raised enough brand awareness and customer loyalty to open a physical store. This is a smart move, as running an online store will have fewer overheads to consider, making it easier to boost your profits in the first years of trading.
If you are now ready to take that next step and are preparing to open your first store in your local shopping centre or high street, here are some key considerations you will need to keep in mind to make your business even stronger.
Budget
Leasing a retail space can be expensive, and although you have seen successful sales via your online store, you should still be wary of overspending when it comes to opening your physical shop. If you’re not sure what is the best way to divide up your budget for these costs, speak to an accountant or business advisor for guidance.
Location
Where your shop is situated is another crucial factor you need to consider. Locations in the city or town centre will be the most coveted, therefore, the most expensive spots. You might not be able to afford these leases but aim to find one that fits your budget which is as close to the centre of town or the shopping district as possible. The more foot traffic your shop can get, the better, as this will make your store easy to find for your regular customers as well as attract new ones who might not have heard of your brand before.
Shop Sign
Another essential way to attract customers to your store is by making sure that you have quality, professional signs that reflect your brand. Combining your logo and the fonts you use for this and in your other branding material is key, but there are other things you should consider when ordering a sign for your shop front, as well as any you will hang in the interior. Look at these tips for choosing the right font for your shop signage to get this right, and other suggestions to help your signs stand out.
Window Displays
As well as having a gorgeous shop sign that represents your brand, you’ll also need to create eye-catching and stylish window displays to draw customers in. Place your best-selling products at the centre of your displays, or fresh lines that have just come in. You could also use themes for your window displays if you find this an easier way to come up with ideas, and this is a great way to express your brand’s creativity. Look at some of these window display examples to inspire you.
Interior Design
As important as it is to make your shop look attractive from the outside, your interior needs to meet the same standards. Plan out your shop floor strategically, making sure that your customers can move around easily and see what is on display. Islands in the middle can be useful to showcase your products, particularly accessories and shoes for fashion retailers. Make sure the colour scheme you use also incorporates that of your business branding and creates a welcoming atmosphere for your customer when they walk through the door.
Customer Service
As you will already know, customer service is essential if you’re going to keep your business running, but managing online requests can be different than dealing with people face-to-face. While you and your staff should never put up with abuse, make sure that your team can deliver quality customer service even under pressure, and consider offering customers a reward scheme or adding new features to these if you already have them in place to celebrate the launch of your new shop.
Marketing
Finally, remember to let people know that you are opening your shop, too! Post on social media to let people know when your shop will open, and you could even document your process to help get them excited about it. You could even offer a glass of bubbly or sweet treats to your customers who visit your store on opening day or run a limited-time sale as another incentive to get them through the door.
If you are ready to move from the online realm to open your first physical shop, use these tips to help you prepare for it and attract even more customers.
