Running a pop-up shop can be lucrative because of the mobility and flexibility. You can set up a pop-up shop at a test site to see if it works well and then move it if it doesn’t work out. Ultimately, you can set up a small business structure in a tent, canopy, or glass or plastic enclosure. The amount of money you invest in your shop is up to you. The following are some tips for running a successful pop up shop if you want to create one.
1. Choose a Lucrative Product or Service
The first thing you must do to run a successful pop up shop is decide what you want to sell. To achieve this, you need to do market research to find out what sells in your neighborhood. For example, you might discover that your location would be a great place to open a comic book shop.
Maybe there are no other vendors there who buy and sell such books. This would be a good idea because you will not have much competition. Also, you can gather interested parties and spark interest over social media and comic book lovers’ forums. That would be an excellent way to get people to gather for your grand opening.
You also need to consider your budget as you decide which products to sell to the community. You’ll need to choose something with a low overhead but also the most success potential. Many possibilities are available in your area, and you can succeed in doing just about anything. These are some of the top ideas and industries for a successful pop up shop:
You are almost guaranteed success if you choose a holiday pop-up. You can set up a small shop or table outside and sell people wrapping paper, tape, and trinkets during Christmas and make a lot of money. The best part about it is that you can remove your shop when the season ends and do the same thing next year.
A food pop-up is another wise idea. Everyone in the world loves to eat. People especially like to try exotic foods or anything different from what they typically consume. Thus, you can open a food sampling pop-up and offer mall passers-by free samples of any food item. Anyone who likes your food will offer to purchase the real thing.
Cell Phone Shops
Mobile phones will always be popular. So you can’t go wrong opening up a product display site and trying to garner new clients for a well-known mobile phone company. However, you must sign an affiliate agreement with one of those providers to earn the profits.
A photo booth is another popular idea for a successful pop up shop as well. Many mall-goers like to take pictures when they’re out on dates and want to make memories. Some people visit photo booths for other reasons, too. One example is to create passport photos to send away with their applications. Therefore, this idea can be very lucrative if you want to invest.
An equipment rental pop-up isn’t a bad idea, either. You can make loads off money off of the equipment you buy just by renting it out repeatedly to other people.
Use any of the above-mentioned ideas or create an entirely one for yourself. Check your budget to see which option will save you the most money.
2. Secure Your Funding
The next step for running a successful pop up shop is to secure your funding. You’ll need to invest some money into your venture, but it won’t be as much as needed for a full-blown business. Some entrepreneurs have gotten successful pop-ups started with as little as $2,000. It all depends on the type of pop-up you want to start and the venue.
You could pay more or less to rent an establishment than you will for a standalone setup. You’ll also need to consider your products and how much you will need to invest to set up your inventory. Also, you may need to pay employees to run your stand when you’re unable to be present. Furthermore, you might need to invest in some amenities, such as portable restroom rentals or something similar.
Once you determine how much you need to set up your shop, you can start your quest to secure the funding. Your local banks and credit unions can help you if you have good credit and a trustworthy history. Private investors, family, friends, and random donators can assist you if you can’t use conventional methods. Then, of course, there’s also the option to use your savings and additional income from working and such.
3. Choose the Right Pop-Up Venue
Selecting the best venue is another part of running a successful pop up shop. You have a vast assortment of options to choose from. You can select a table or stand outside a popular shopping mall. You can set up shop near a busy bus station or in front of a local storefront many people frequent. You also have the option to rent space in any office building.
Alternatively, you might want to consider renting a huge van similar to a food truck for your venture. The research you perform will help you make the best choices in this regard. The wisest idea is to create a pop-up shop that’s easy to disassemble and move at the end of the day or when the season ends. A rental management service can help you find an affordable property if you rent a regular office space spot, though.
4. Start Marketing Your Business.
If you want a successful pop up shop, you must market and promote your business. No matter how big or small your shop is, it would help to find people who are interested in what you offer. You can use a variety of methods to achieve this. Social media is a huge tool when you’re trying to spread the word about a new business. You can use sites like Twitter to announce your grand opening and Facebook to join groups to find people interested in what you have to offer.
You can also turn your website into a marketing and promotional tool by hiring some SEO experts. These experts will use a multitude of tactics that will bring random web surfers to your site. For example, they will weave keywords into your web pages to draw them to your site if you offer medical spa services. The keywords might be ‘massage,’ ‘spa,’ ‘spa therapy,’ or something else. With the right text, videos, and pictures, you can find plenty of customers to frequent your pop-up shop.
You also have the option to do some of the promotions yourself. For instance, it doesn’t take much effort for you to email and text everyone in your personal contact list to let them know what you have going on. You can even incentivize those people to pass your information to people in their friends and family circles. Finally, you can engage in some old-school practices to get the word out about your business. There’s nothing wrong with leaving flyers on cars, putting up signs in local laundromats, passing out business cards, or taping things on light poles. People still do, and it’s still a successful strategy.
5. Use Attractive Decorations
You must be smart when choosing how to set up your successful pop up shop. You must use various marketing tricks to draw people to your shop. That might include using color psychology or special lighting to produce a certain result.
For example, green is a color that often motivates people to spend money. Thus, you can use green paint or wallpaper to design your shop and convey that subliminal message to your potential and current customers. Investing in interior lighting is also an excellent idea, especially if you’re going to set up your shop outside a mall or in a similar spot. The lights will alert your passers-by that you are open and your sportswear or alternative sale items are available for them to purchase.
You can also use special lighting during the holidays to create a more suitable environment. For example, LED Christmas lights are quite popular at the end of the year. So, you can install them on the inside and outside of your pop-up to garner attention and boost sales.
Investing in exterior signs is another method you might want to use to bring more people to your business. Many people will notice a huge neon sign on the side of the road. The right terminology or message will cause some drivers to pull into the parking lot and see what you offer. It’s worth a try. Using some of your money to put into designing your shop is a smart business decision that will help.
6. Wow Your Customers
Customer service should be your top priority in any successful pop up shop. You will need to achieve three things with the customer service you provide. First, you’ll need to intrigue people who have never shopped with you before. Next, you must wow your current customers to secure their loyalty and return business. Then, you must convince your loyal customers to spread the word about your business.
You can use various methods to intrigue people. Using the marketing methods mentioned above can work well. You can also invest in TV, radio, or internet advertising to get new people interested in your business.
Sometimes, having a comical commercial about a pawn shop can interest people in bringing their goods. The commercial should inform potential clients of the items they can bring to pawn to you. Not everyone knows they can bring gaming consoles, cell phones, guns, electronics, and jewelry. Bringing them that additional awareness in an advertisement might draw them to you.
You can use many tactics to wow your current customers. Kindness and consideration are big sellers, especially when they’re genuine. Therefore, you should train your employees to give five-star customer service to every client who visits your successful pop up shop. If you’re the owner and only employee, you could invest in some private customer service courses.
7. Keep Your Store Clean
Keeping the shop neat is another way to keep your customers happy. For example, you can hire a cleaning company to come in and do sanitation and office cleaning. Alternatively, you can invest in dumpster rentals to make eliminating trash easier for employees and customers. Dumpsters are highly popular in food-based businesses.
8. Incentivize Repeat Patronage
Loyalty programs greatly increase customer engagement and cultivate loyalty. These programs offer clients the opportunity to earn points whenever they engage with your business. Eventually, the points accumulate, allowing clients to get discounts on products and services or free items occasionally. You can speak to a loyalty program service provider to learn more about what you can do for your clients.
Referral programs can keep your clients loyal. They also serve the purpose of bringing new people to the business. They usually work off a double reward system, meaning that your current and new customers get a reward for engaging. For example, the client who referred the new customer might get $25 off their next purchase. The new customers might also get $25 off. These programs are highly successful because they make everyone feel special and valued.
Maintaining loyalty for an extended period will require you to continue to invest in programs and practices that show your customers you appreciate their business. You can run a successful pop up shop and keep your profits coming in for a long time if you use the right methods and continue to stay informed of new and effective tactics.
You’ve just read some tips for running a successful pop up business. Anything is possible in today’s world. You can take small dreams and turn them into successful business ventures easily. It’s much more attainable with social media and technology on your side the way it is. Use some of the methods mentioned above to start your new pop-up. Hopefully, it will become a long-term venture that brings you a lot of money.
Don’t forget to brainstorm and consider all the above-mentioned areas before you leap into it. The more you take your time and think about the right approach, the more successful you will be when you launch it.