Guest post by Manish Kuwar
The goal of any business is to strategically position themselves in front of potential buyers. For most small mobile businesses, this means setting aside a budget for marketing. Mobile hairdressers, food vans and even beauticians often struggle to get word out about their business. However, businesses can adopt a new approach to achieve even better results by setting up a commercial premise to capture more market share from the high street.
When you set up a shop on the local high street, you’ll want to include an experience that will draw in customers. For instance, a handmade craft or cosmetic company could offer to do demonstrations on how to use their products. You could also opt to give customers gifts or a snack. These experiences usually draw crowds that often translate to more sales and a growing customer base.
Advantages of Setting Up A High Street Store
Here are some of the advantages that mobile businesses that take up retail space for rent London to set up a permanent place of business enjoy:
Saves you money. This may sound counter intuitive to a mobile business, but the costs of traveling around to people’s homes or venues could be saved by taking on a commercial building. You may opt for an empty retail space, a table inside a store or even build your own branded pop up shop on the high street which is even more cost effective than traditional brick and mortar commercial buildings. You don’t have to spend so much when it comes to fitting out your store. Just get creative, you can do it on a budget.
Boost your income. The retail economy in the UK is estimated to be worth over billions of pounds, however, commercial rents are falling rapidly. In 2016, this sector generated a turnover of over £2.3 billion. This number was more than the previous year and has been on a steady rise. There is always talk of a commercial property ‘bubble’ with the ever changing landscape of society due to the current global pandemic. However, when you set up your shop in a strategic retail space, you will definitely see an increase in your revenue as opposed to running your mobile business.
Connect with customers. There’s nothing like a one on one interaction with your customers as they give you feedback on your product. When customers come to your store you can engage them to get to know what it is they like about your product and what you need to improve. You’ll most certainly receive natural straightforward answers that help you to improve your products or even come up with another product line that meets their needs.
Build brand awareness. Having a commercial premise presents a perfect opportunity to increase brand awareness especially when you set your shop in a location with a high footfall. Remember you will not only be targeting existing customers but also make prospects aware of your brand. Moreover, creating a buzz around your brand on social media also goes a long way in amplifying your brand’s visibility.
Helps establish yourself as a retailer. Breaking into a new market as a retailer can be a difficult task. Consider taking on a shorter lease for your premises or a pop up shop which will allow you to test the waters in safer conditions Make sure that you find an ideal event space for rent in London as this has everything to do with the success of your pop up store. Location is everything when it comes to retail and getting in front of the right audience. Make sure to fully research your customer demographics. London is a very big place, and certain consumers visit particular locations for their retail needs. You can use the experiences and feedback from customers to identify the areas that you need to improve while amplifying those that you are already nailing. These lessons are valuable when you want to scale up your mobile business because you will not be basing your decisions on assumptions but what your customers are interested in.
