Is a Shop Good for Your Business?
Whilst the main ethos behind this book is starting a home-based business, eventually this same business may well outgrow your kitchen table, house, garden shed, garage, or wherever you initially locate it. There are other, and in my view, often overlooked benefits to opening a traditional bricks and mortar shop.
The benefits of having a bricks and mortar shop
- With the right location, you can dramatically increase your `walk-in’ sales and improve profitability.
- It improves your business’s credibility.
- It improves your chances of more easily obtaining funding for your business, as banks and credit companies like to lend on bricks and mortar as opposed to kitchen tables.
- It creates a better working environment. Working from home can often be lonely and present a number of problems, including where to store things, conflicts with other family members, distractions, and so on.
- It improves the potential saleability of your business. Would-be purchasers are far more likely to buy a profitable shop rather than simply a garage full of your unsold stock and a list of customers
- As your business grows, your need for larger premises will become acute. My own experience from starting and running the Littlehampton Dutch Bike Shop was that it was actually more cost effective to open a shop than to simply increase our rented storage. Nothing is worse than having to commute to a cold, facility-less container to access your stock while having your `sales office’ based online and at home.
- It makes it easier to employ staff. As your business grows you’ll need additional staff and nothing is worse than having to accommodate them at your home, both for you and for them.
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