Editor’s Note: Here at Dispatches, we are always looking for ways to help our readers do things. For some of our readers, that means helping navigate the working world, for others, it means assisting in the ever challenging question,“what’s for dinner?” For still others, it means figuring out how to balance family life with everything else. In an effort to aid in all of these endeavors, we have collaborated on this article written specifically for our readers.
It seems like every business or organization is hosting some sort of pop-up shop or performance theses days. If you’re not familiar, a pop-up shop is a temporary store or performance that is around for a limited time, sometimes just a single day.
Don’t be fooled, pop-up shops, despite their name, are not a reliable or good source of revenue. Most companies use them as a marketing device and heavily promote the pop-up on social media to attract customers.
Dealing with the retail space
You’ll need to discuss your idea with the owner of the retail space you want to use or talk with the local government about setting up on non-retail locations. There are absolutely licensing and permit issues, so iron those out well in advance. You might get lucky and find a space that is specifically designed to host a pop-up. In addition to rent and permit cost, make sure you at least have a reliable internet connection and have considered the potential insurance implications.
Assessing the goals of your shop
The goals you have will determine exactly what you’ll be doing with this pop-up shop. For some companies, the goal is to increase revenue. In which case, you’ll want a lot of stock and you’ll have to think strategically about prices. For others, spreading awareness of the brand is more important. Engaging with customers directly in order to build a stronger, more loyal fanbase is also a common goal. You can also want to have a mix of the three, though you should consider which one is more important when you’re planning the event.
Deciding what items to host at the shop
If your company is a startup, then you’re going to want to have your core product out there. If you’re launching a new product, then you’ll need that to be on sale. You could also consider offering an exclusive product only available at the pop-up, such as an exclusive edition of your core product. If that isn’t feasible, consider selling or giving away exclusive branded items. Companies like Dynamic Gift can help you get your hands on such items.
Research the location thoroughly
When you’re setting up a pop-up shop, you need to give the location the consideration you would give to it if you were setting up a regular shop. Consider the competition that may surround your pop-up shop. You should also be thinking about how visible and accessible the place is going to be and think about parking. You’re also going to need to know as much as possible about the area demographics, which is relevant to most businesses out there.