Last Updated on Mar 13, 2020 by James W
Thanks to the benefits of modern technology, it’s now possible for entrepreneurs to work from home. While this is a great place to start, it’s important to remember that there are still some significant advantages to a brick and mortar store.
It’s more difficult to build a reliable customer rapport by simply doing transactions online. This makes it harder to expose customers to new products they might not have been aware about when they walked through the door. Real estate comes at a premium, though, especially in large cities like London. Here’s how you can get a high-street presence without the costly overhead.
Creating a Temporary Business
There are many companies that specialise in creating temporary solutions for businesses looking in the property market. Rather than committing to an expensivelease, you can instead test out a location for just a few months. These are perfect for companies whose properties have suffered damage from a natural disaster or are undergoing redevelopment, and need a quick-fix solution to prevent a loss of income.
Just because a store is temporary doesn’t mean it won’t have the amenities of a permanent structure either. Buildings are entirely modular which means they can be constructed to the dimensions and design that’s right for you. Advancements in payment technology mean that your customers don’t need to be without retail standards either. Paying for goods and services by a debit card is now more popular than paying with cash so it’s crucial that you can fulfil consumer demand. Companies like Card Cutters offer rentals for card machines so your customers can always pay with their preferred method. Studies have also found that shoppers are more prone to impulse buys when using their cards compared to cash.
What Are the Future Benefits?
Whether you’re looking to start your first brick and mortar business or even looking to expand into a new area, a temporary solution is the ideal way to test your growth potential. Expanding is the logical step forward for any successful business, but the added costs make it a risk. To ensure that you make the right choice, make sure you research the location for any competitors in your marketplace. Consider what makes your products or service stand out from the crowd.
Thanks to advancements in the construction and payment technology, it’s now possible for more businesses to try their hand in the retail space. All business owners hope to create a national, or even global, brand. This ambition should be the driving force for your company, but it’s also important to be aware of the add risks. Taking advantage of temporary solutions and rentals are a great way to alleviate these issues.