Pop-up stores are becoming highly anticipated, highly sought after methods of sales and building a brand name.
We have all wandered our way through markets in search of the next big thing. With a resurgence in boutique culture and an appreciation for the underground (or underdog) retailer, pop-up stores are becoming highly anticipated, highly sought after methods of sales and building a brand name.
To bring your products offline and onto the streets, we’ve come up with these tips to planning your own pop-up! Follow the five Ws and H guide to logistical success:
Who Are You Renting Space From?
Convince the owner your pop-up will prevent their space looking barren, bring in income and illuminate it for future tenants. Decide the length of your rental terms. Know the boundaries of the space. And don’t refurbish if you’re going to have to foot a repair bill.
What’s Your Budget?
Knowing your limit and allocating funds for each stage of your pop-up will prevent cash flow drying up halfway into the process. Use online tools and plan your budget around set parameters to cement the bricks and mortar of your pop-up.
Where Are You Setting Up?
It goes without saying, the old idiom “location, location, location” is a vital one. Great foot traffic will take your pop-up swiftly out of the teething stage and onto its first steps to success. Research the area you pick to ensure the demographic is something you cater to. The more may not be the merrier if you don’t have the stock for it.
When Are You Launching?
Be tactful and seasonal. Swimwear belongs in summer and no one likes expired or unripe products they’ll have to wait to use. Also, be aware of what’s going on. Is a similar fashion label that’s more established than you having a warehouse sale? Be smart, don’t compete and pick your dates wisely.
How Will You Follow Financial And Legal Obligations?
Figuring out how you will accept customer payments is a no brainer, so check out apps like Square for simple sale systems. When it comes to legal obligations, it’s important to get your head around what you may need depending on your business. Think about insurance and licensing. If you don’t remember, we guarantee the law definitely will.
Why Are You Launching A Pop-up?
Keep your original mission clear. If you want to sell your stock, organise your plan accordingly. Looking to make a name for yourself? Host a launch party! You may even want to invite micro influencers from your industry for free publicity.
Keep an eye out for our next blog on how to design the perfect pop-up!
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