What's a retailer to do when the holiday sales are over, and you've got an empty space where the Santa themed shower curtains used to be? For the price of a canopy, you could bring in new business and make more money by creating a shop in shop.
What is a Shop in Shop?
A shop in shop or a store within a store is an old idea that's gaining new ground. You've probably seen big box stores hosting smaller specialty shops within their walls, but it can work for all kinds of partnerships. Think about those coffee shops you see everywhere from department stores to hotels so you can pick up a latte without having to go outside.
What are the Benefits?
Shop in shops are great for cross promotion to increase traffic and revenue. Older businesses get to offer something new to their customers and take advantage of one more way for brick and mortar stores to prosper in an age of internet shopping. Startups get to break into retail without the high overhead. Consumers win too because they enjoy extra convenience and a chance to discover new favorites.
How Can I Get Started?
With proper planning this can be a great opportunity for a wide variety of retailers. Be sure to sort out the details for tracking inventory, coordinating computer systems, and setting your joint hours. You'll also need to keep search engines, apps and other tools updated about where you are so your potential customers can find your business when they're searching online. When it comes to designing your space, the process can be as simple as buying a canopy that will capture attention and help you display your products and services.
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