What Does It Really Take to Launch a Retail Store?
If the latest retail news stories are any indication, the only road to success is strategy.
The old rules of retail no longer apply and only the most nimble and dynamic businesses will thrive.
In the Launch Your First Brick & Mortar consulting package, we’ll coach you from ideas to your store’s debut. We even get hands-on, accompanying you on a buying trip and implementing marketing. Benefit from the same strategies used to help so many retail businesses succeed, including Flat 128 (NYC) and Asylum X (Bahrain).
This is our process:
Step 1. Brand DNA
First things first. You can’t launch a store until you fully know your business.
As we create your brand DNA, you’ll gain answers to these questions and more:
- Who are your customers?
- What are their desires? Preferences? Shopping habits?
- What price points are right for your store?
- What does your brand stand for?
In this stage, we’ll help you build a solid foundation, the core of your company.
You’ll gain a deep understanding of your target customers and get to know the latest opportunities in the market.
We’ll develop your branded assets and create your branded world.
It’s only once we’ve developed your brand DNA that your business comes to life!
Step 2: Buying
Pack your bags – we’re going on a buying trip!
We take our clients to markets in Paris, New York, London, Las Vegas and L.A. The one(s) we’ll head to depends on unique factors like your in-house timelines and core customer profile.
Once there, you’ll meet with brands accompanied by specialists from our team- so you can learn how to make smart decisions for these important orders.
You’ll also learn how to analyze and make financial decisions to drive sales for your upcoming store.
Step 3: Operations
When it comes to operations, new store owners usually don’t know where to start.
There are so many details to consider – POS systems, budget planning, hiring… and the list goes on and on. But in the Launch Your First Brick & Mortar program, we’ll guide you every step of the way. No need to burn up precious resources experimenting until you get things right.
We even have you covered when it comes to store size and location scouting. You’ll choose the right storefront with Scaling Retail’s proprietary market evaluation system!
Step 4: Marketing
Launching a retail store can be costly. How will you achieve ROI?
We’ll teach you innovative marketing strategies to capture and convert customers in-store and online.
Do you need to build an e-commerce store?
Should you host pop-up shops?
What kind of strategy will you need for collaborations and exclusives?
We’ll develop the answers to these questions and more by:
- Evaluating your options and
- Deciding on a course of action that fits your budget, your core customer and what’s currently happening in the industry.
Step 5: Launch
It’s time to break out the champagne… you’re ready to launch.
You did it. You’ve successfully made it to your retail debut and you have all of the elements in place. You’re prepared for what the next few months – even years – will bring. And you have the confidence and know-how to analyze and pivot as business goes underway.
But we haven’t left you yet. Enjoy personalized consultation sessions and strategies from our agency experts for the first 3 months you’re in business.
And if you’d like further consulting, execution support for special projects, support opening more stores or help designing and implementing specific marketing campaigns, we have other bespoke options to explore.
But for now, enjoy this huge step and step into your role as a brick-and-mortar retail business owner!
Your next step to Launch Your First Brick & Mortar is simple: book a call to speak to a client specialist today.
In less than 30 minutes, we’ll answer the question:
What’s the best next step for YOU and YOUR business?
This consultation session allows us to do two things:
#1 We’ll ask about your goals, your experience, and where your company is now to determine if we’re the right fit.
And if we’re not the right fit, we’ll tell you what we think the best next step is for you and your business – even though it’s not working with us.
#2 At Scaling Retail, it’s vital to our business that our clients are happy and we only want to work with clients who we’re 100% positive we can help. Our availability is very limited, and we often have a waiting list for consulting services, so we’re extremely selective about who we decide to work with.
We work with people at all stages of business, but determine fit based on levels of commitment.