This is a common question businesses are asking themselves prior to opting to open an online or store front company. With the rise of e-commerce, a lot of businesses are now wondering if it’s really worth having an actual shopfront.
But, it all is contingent on the type of business you wish to run and the kind of experience you wish your customers to experience. If you’re a small company, it’s also based on your budget.
That’s why we have some cons and pros to consider prior to opening a shopfront.
Benefits of having a shopfront
A lot of consumers still prefer to shop at the front
Online shopping is easier, however in 2018, it was calculated to be that within the retail industry less than 14% purchases was made on the internet. However, the majority of people purchased at the storefronts. This indicates that a lot of people are still drawn to shopping in stores and picking the items them-selves.
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Increases exposure for your brand
If the location you have is great there is a good chance that a lot of people will visit your business every day, which makes it visible to lots of people. A stylish design and bustling location is the ideal method to make your company popular with hundreds of customers every day. The appeal of your store can also attract customers which can result in a rise of sales!
Direct contact with customers
This will let you connect with your customers faster since any issue is resolved right quickly. You can offer exceptional customer service, which implies that if you’ve got an online presence the customer will likely buy online from you next time , if they were pleased with the service they received at your shop.
The cons of a storefront
Additional charges
This is the reason that most small-scale businesses don’t begin with a physical location. There are costs like the cost of rent, insurance wages, and other costs that aren’t every company can afford initially. This also means that you will earn lower profits for the first year, and it could take some time for your business to be profitable. This is the reason why many choose to sell their products online nowadays.
Riskier
It’s more risky in the way that you’ll need to store a lot of things in your store, and the it is likely that not all of them will be sold. This means you may not be able to conduct as many sales as you’d like but you’ll be spending money.
It’s not for everyone.
Many people don’t want to set up a shopfront and that’s perfectly appropriate. A lot of people don’t want be tasked with such a huge burden when they first start out, so online stores always seem more appealing.
Final words
A variety of other factors will aid you in determining if you require a shopfront or not. It is a question that only you have the ability to decide for your company. But these pros and cons can help you make the right choice and help you aware of the potential advantages and risks that are associated with it.