It can be hard to choose the right temporary retail space option for your existing brick-and-mortar business. The location, size and cost to set up the facility are just a few of the crucial things that you have to get right. Are you a retail business owner who is looking for a temporary building solution to ramp up your services? Well, Smart-Space UK has several options for you to consider. While small business owners can invest in kiosks, other entrepreneurs may prefer to opt for larger temporary retail buildings or stand-alone facilities.
If you are interested in setting up a durable temporary retail building to boost your business, here is what you need to consider to help you make a better decision.
- Understand your needs and wants
According to the successful serial entrepreneur, Nicole Pomije (owner of two retail brands), business owners need to consider space size and budget limits when looking at different types of temporary buildings.
Set a realistic budget and stick with it; you will have to figure out the size of the building you need as that will have a great impact on the price. Bridal boutique owner Mallory Thorburn also encourages retail entrepreneurs to consider the square footage. Ensure that your temporary retail space is large enough to meet your existing needs while leaving extra space for future expansion.
Leesa CEO David Wolfe suggests that it helps to reflect on the building design and how to use the space to tell a good story about your brand. When you set up your retail store with an attractive concept, it will create hype around your brand and boost your marketing efforts.
- Pick the best location
Having figured out the kind of space you need, you can then proceed to select a conducive location for your retail business. It’s a good idea to take into consideration the foot traffic and demographics of the area before you erect your Smart-Space temporary retail building. When choosing the right location, you may want to ask and answer a few questions concerning the climate of the business community in the area you want to settle in.
Don’t ignore collaborations with other experienced entrepreneurs in your industry. Forming an effective partnership with supportive entrepreneurs can prove useful and allow your business to thrive. Understand that over-competitive business landscapes can make it harder for you to grow your brand.
Furthermore, you may find it necessary to consider the quality of resources available to your employees. Whether your start-up hires a few or employees, you need to ensure that your amenities create a good working environment for both your prospective workers and potential customers. One thing that can make a big difference in your retail business is the live-work-play balance — this will allow you to attract great talents and grow your retail enterprise.
- Ease of Access
When you put innovative access measures in place, you can make it much easier for customers to get into your store. Typically, vehicle access is one factor to carefully consider. For example, if your retail store is located in a tight corner, customers may struggle to drive to the building.
Situate your retail store appropriately, and have systems in place to guide consumers to reach you without any hassle. A retail building sited in the right [lace makes it easier for people to access the business without having to pass through turns or make complex manoeuvres.
All in all, ease of access is a vital factor because the majority of shoppers will typically choose retail outlets that offer them convenience in terms of access, price, and product quality. As a result, stores that are situated along main streets often record better sales than those are situated off the beaten track.