What is a pop up shop?
Pop up shops could be a great way to start a retail business.
Pop-up shops, also known as flash retail stores, give emerging online brands the chance to sell in a brick and mortar setting. It allows customers to touch, feel, and experience your products.
Although a pop-up shop may look similar to a regular storefront, many brands use them for unique and immersive shopping experiences. To add an “wow” element to your brand, you can open pop-up shops.
What is the cost of a pop-up shop?
Costs for opening a pop up shop vary depending on how big, long-term, and where it is located. Although there is no maximum amount of money you can spend on a pop-up shop, it is possible to open a temporary one for as low as $2,000.
You should note that the startup costs for a pop-up store, such as Boxpark Shoreditch, will be lower. The cost of commercial rent would rise in other locations. Inkbox, a tattoo parlor in Toronto, had to pay $8,000 to rent a space in the downtown Toronto area. Commercial spaces will become more expensive to rent as the world recovers after the pandemic.
How do you choose the right location for your pop-up shop?
Once you have decided what type of pop-up store to open, you can begin to choose a location. It is important to know your market and target audience. If you intend to sell skateboards, it is a good idea to locate your store near local skateparks and ramps. Look for locations that are known for selling food and snacks.
Once you have an idea of the general location, consider:
Nearby events and retailers. Do you know of any stores that sell complementary products in the areas you are interested? Are you willing to compete with other businesses? How about competing for attention with events in the area?
Foot traffic. How many people walk past the area you are going to choose? These people will make a difference in your sales potential. To see how many people will be there, you might consider visiting the area ahead of time.
Reputation. Reputation. Does the region you have chosen have a great reputation? Are there high-class, luxurious companies located in the area? Are people drawn to the incredible views and high quality of service that they receive when they visit the space.
Where to find pop-up shops
It’s easier to find venues if you know the details of your dream space. To find the right space for you, you might need to compromise on certain factors. To accurately assess each area’s potential, make a list of the things you must have and the things you want to avoid. Once you have your list, go to:
It is crucial that you find the perfect space for your pop up. Start your search by identifying the space that best suits your brand and position you in front of your target audience. There are many options:
Vacant storefronts. You can personalize vacant storefronts to fit your brand. Contact a local agent if you are unsure of where to find available space.
Shopping malls. Many malls offer temporary rental of small shops, booth space, kiosks and even booth space. This space is not cheap, but it allows you to reach a pre-existing customer base of regular shoppers and foot traffic.
Gallery/event space. Gallery and event spaces allow you to display your brand in an attractive and creative way. If you want to make your pop-up shop memorable, these venues are the perfect venue for events.
Pop-ins. Pop-ins can be stalls or small spaces in an existing brick and mortar location. Pop-ins can be used to promote your brand. Look for companies that are a good fit for you. A headphone company might “pop into” a technology store.
You don’t have to limit yourself to one location. Renting a trailer or bus to operate a mobile shop is a great option. You can create a sales environment wherever you go and increase your reach.