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If you are planning on opening a retail store, there is a lot to take into account; a significant investment is required, of course and a lot of careful planning needs to take place. The retail sector can be highly volatile and you should be as sure as you can that your store is in a good location and your products are in demand.
Here are a few critical aspects to consider when planning to open a retail outlet.
- Location – Location is everything, or so the experts say, so do take your time when looking at stores; whether you lease or purchase, your location should have ample parking and ideally be on a main thoroughfare or in a shopping mall.
- Store signage – There are companies with premium hoarding signs in AU and they can tailor your exterior signage to blend with your theme. A leading signage provider has an in-house designer and they are able to take your concept and create signage that gets your store noticed.
- In store design – Talk to a top-rated fitout contractor about your vision and their design team can work to your budget. Take your time looking at themes and choosing colours, as this is a crucial aspect of the business.
- Marketing – Of course, you should be planning a store launch and base your marketing around that; hire a PR agency to organise the event and you should enjoy a successful launch with a lot of publicity. Let’s not forget digital marketing, which should be included in your overall marketing campaign. Handing out flyers is a good idea, while you can place ads in local publications.
- Hiring staff – Rather than placing an ad in local newspapers, you should outsource to a leading recruitment agency; they can screen candidates and present you with an interview shortlist. The right attitude is worth more than experience with store sales staff; staff should be of a pleasant disposition and eager to please.
It can take a few months to build a customer base and with an aggressive marketing campaign, your message will reach the community. An important step is to create a business plan that covers every aspect of the store and hopefully, your retail outlet will become a solid part of the community.
