Are you launching a pop-up shop soon and need some guidance on making it work?
Pop up shops are a great way to learn how to run a store, interact with customers, and see what the market demand is like. They’re great if you want to launch new products, test out new items, and do market research for bigger projects.
Keep reading to learn how to start a pop-up shop and make it successful and profitable from the get-go.
Make a Plan
Opening a pop-up shop is like launching a small business. This is why you’ll need a basic business plan to help you set goals, budgets, and deadlines.
Write down your projections, KPIs, expenses, tasks, and marketing activities, along with the monthly predicted profits.
Do the Math
Once you have a plan in place, it’s time to do the math and see if they pop up has the potential to be profitable. Define a budget for rent, utilities, merchandise, salaries, taxes, insurance, cleaning crews, legal team, and other operating costs.
Decide What You’ll Be Selling
Like with any business, a pop-up shop starts with an idea. Do in-depth research on what products are trending and profitable. Then, research your target audience so you know exactly how to appeal to them.
If you have an online store and want to sell your products in a pop-up shop, see what your best-sellers are and offer them in the store.
Find the Location
Location is one of the most important aspects of a successful pop-up shop. Start your search early to make sure you find the perfect spot. Look for areas with high foot traffic such as downtown shopping districts or shopping malls.
Depending on your pop up theme, you can also set up shop using booths, stands, or shipping containers that offer benefits like freedom of movement, low overhead costs, and easy modifications.
Decorate the Shop
The way your shop looks and feels is crucial for attracting a crowd that’s ready to spend money. How you decorate the store will depend on your target customer. Aim to make the shopping experience pleasant and safe for everyone.
Customers must have enough space to move around and browse without bumping into each other. Your store layout should be set up for selling without being salesy or pushy.
Promote Your Pop Up Shop
Once you have everything set up, it’s time to promote your shop and attract your first customers. Start marketing and advertising on social media at least a month before you open.
Hand out flyers in the area, invite friends and family to the grand opening, and work with bloggers and influencers to help spread the word.
Now You Know How To Start a Pop Up Shop!
Now that you know how to start a pop-up shop, it’s time to turn your ideas into reality. Start by making a business plan, define your budget, source the products, and find the perfect location.
Want more small business tips? Check out some of the other articles we’ve written on this topic and come back often for more industry news and trends.