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Investing in Growth
answer in Pop-up retail. Pop-up retail allows you to set up a temporary store for a short period of time. This allows you to take advantage of seasonal demand. This can take place in a farmer’s market style setting with other retailers. There are also other options for pop-ups. Study the neighborhood. See if you can find a non- competitor who might be willing to share some space. Some businesses will be happy to have an event like a plant sale, or craft sale to draw in more customers. Sarah has sold houseplants and Christmas wreaths at donut shops and neighborhood cafes. If you have a product that attracts attention, chances are you can find a business willing to lend you some space, even if it’s on the sidewalk outside.
Success has a way of outgrowing its confines, and soon, the need for a retail space became clear. The warehouse space was just not good enough for servicing Melissa’s customers or attracting drive-by business. Watching your local real estate market can be critical to a business owner. Melissa had priced the rental of retail spaces, but hadn’t found the right space at the right price. One day, she found a commercial condo unit for sale that worked out to less of a per-month cost than renting. This was surprising for the Seattle market, and serves as a reminder to always keep your options open. Historically, an investment in real estate has been the lifesaver for some companies. It’s always good to know what is out there, even if it is out of reach for now.
Most Importantly, Don’t Give Up!
No Budget? Try Pop-ups!
You’ll never succeed if you don’t try. You’ll never get rewarded if you don’t take risks. Try one of our ideas or find one of your own that suits your business. Take a chance and prepare for growth!
There are still options if renting, or purchasing are not in your budget. Sarah Herbert of Toadstool Flower Club has found a creative
40 The Acumen
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