Tips for the Startups with a Storefront

Not every business can be a dot com billionaire idea. For example, you can’t give tattoos online. You can’t fit mouth braces online. You can’t open a paintballing and go-karting adventure park and ask people to take part from a remote location. Sometimes, you’ll be starting a startup with a storefront.

Today, we’re going to look at some of the classic preparations you’ll need to consider before you throw open your doors (literally) and welcome your paying customers.

Be ready to say yes to card payments

If you haven’t already considered how you plan to take payment, here is your wake-up call. Take the time now to research and invest in contactless payment readers. Here’s why.

Tips for the startups with storefronts

At the risk of sounding brash, money is dead. Not online money. But physical cold hard cash is about to go the way of the dodo, and we all know it. In 2023, Sweden plans to become the first cashless state. With only 6% of Swedish retail transactions being carried out with cash, those plucky Swedes are drawing a close to the age-old method of crossing the vendor’s palm with coins.

How many of your customers do you expect will pay with cash? Roughly 6 in every 100? Just like in Sweden? Perhaps slightly more? Perhaps slightly less? The point is, a till system designed for banknotes and jangly metal coins is so old school that you may as well call your company Ye Olde Shop. Be ready for contactless. From day one.

Where are you located?

Is your business conveniently located about 15 minutes from the turn-off to that abandoned sports field near to where the old shoe factory used to be, just outside town if you head north until the moon touches the horizon and you see the diner with the broken sign to your left?

If the directions to your business location sound like everyone’s dad trying to describe a part of town that only they know about because there was a bowling alley there 50 years ago, you’re in trouble.

Don’t locate your business in an area where even Google Maps is likely to say, “Where? What, you mean, down there, somewhere? Are you sure? OK give me a minute, erm…”

Stay accessible. The rent costs more. But you must try to base your business where footfall is guaranteed.

Is there a talent pool within commuting distance?

Are you going to need staff? Or do you plan on playing solitary host to every single shift, working from 8 AM until 8 PM seven days per week (not to mention the extra hours you’ll need for marketing, research, and development, organizing deliveries, managing your inventory, etc.)?

The funny thing about staff is they like to get to work the same day they set off. If your business is too far from the talent pool, you can’t expect to hire the most talented individuals relevant to your business.

Make sure staff can get to you within the hour. A larger commute than that, and people will likely look elsewhere for employment.

(Visited 39 times, 1 visits today)