If you run an SME with a budget that's not enough to cover the expense and tribulations of renting a physical space, why not try your hand at pop-ups? They may not be a cash-free venture, but they’re much more flexible and varied than the usual stationary store.
So how can you run a successful, effective pop-up in a world bustling with new business ideas and innovations? Check-out The Bureau Dubai’s tips and tricks to running a successful pop-up:
Doing it alone is tough, especially if you’re new to the world of business, or if you have little to no name recognition. Splitting the cost of the pop-up space with other merchants will both help you keep your costs in check, build a network with other business owners, and enrich the customer experience. Beneficial symbiosis is a beautiful thing. Why not go for it?
Yes, you could be spending heaps of money to have someone brand your business, then design every aspect of your pop-up store, but why waste all the money. Your creativity will have gotten you far enough to open your very own business, why not go the extra mile and teach yourself how to design? No one knows the perfect vibe for your store like you do.
Market yourself by yourself. Get savvy and use platforms like Facebook, Instagram, and Snapchat to showcase your products, and keep in close contact with eager or loyal customers.
Actively record the traffic of your pop-up and tailor that to your staff schedule. It’s important to know when people will be coming in the most, that way you can utilize your store’s energy effectively and vitally.
The 7% Rule
Can you afford to launch a pop-up? Maybe, or maybe not. The best way to be certain is to calculate 7% of your gross monthly revenue, and decide whether this is enough to cover the cost of your pop-up store.
The thought of opening a pop-up can be overwhelming. Locations change easily, and the crowds might to. The key is to start small, and build as you go along. Don’t reach too far out too soon. Everything can be done on a budget, in little baby steps.
Want your own pop-up? Visit sharethissspace.ae
Share This Space is an innovative distribution channel for brands in Dubai. The platform connects brands with commercial spaces to create pop-up shops, events, campaigns, and more. In other words, it’s perfect for any SME owner looking to expand.