You have a successful online store and what to take the next step, but what is that step? For the majority of people that is the creation of a physical store. In the article, we’re going to share our tips for making that happen.
Get the ‘Admin’ Out of The Way
You should focus on doing is getting all of the clerical work out of the way as a priority. You’ll need to define a legal structure of your business and either update your business plan or create a new one altogether. You will also need to consider the extra funding needed.
You will also need to find premises for your retail shop. Location can be everything when it comes to the success or failure of a small, independent store. If you’re free and willing to move to launch your business anywhere in the country then consider checking out the latest Start-Up Cities Index. This will tell you which UK towns and cities are best for fostering start-up growth.
Protect Your Business
While you may have had general business insurance as a small online business, the cover you need will change once you venture into being a physical shop. Your best bet is to invest in startup insurance to protect your startup business as this will give you the most flexible insurance products to keep you covered for all eventualities.
These types of cover often include things like public liability insurance, professional indemnity insurance and employers' liability insurance as a starting point so that you can tailor your cover to suit your unique business needs.
Use Your Online Presence to Drive Store Visits
Having that starting point of being an online business can be a huge advantage if you use it correctly as there are a lot of ways you can use your online presence to drive store visits.
Steps like having your Google My Business profile set up properly is an easy way of encouraging footfall into your store. Using your social media presence to show off your store and some of behind the scenes goings-on in-store is also a good idea, as providing clear store details, directions, opening and closing hours and promoting in-store only products and promotions/discounts.
Offering click and collect and in-store returns is also a good way to encourage footfall to the physical store instead of online.
Build A Community
Community is an important aspect of any brand and, if you want to be successful in the retail market, then building a community is an important step for your business.
By building a community around your brand, you are essentially turning your consumers into brand ambassadors who will be connected with your brand, your values, your products – perhaps even yourself. You also make sure your customers see you as more than someone just trying to make a sale 24/7 and that you value them as people. This extends out to your employees as well.
One way that you can do this is by providing your customers with the ‘experience’ aspect that, for the most part, only physical stores can offer. This will help encourage future visits to your store rather than your online store to make purchases.
When you are transitioning from an online store to a physical shop, there can be a lot of adjustments to make. However, these tips are here to help ease that transition smoother.