Affordable Alternatives for Starting Your Own Retail Business

Coming up with great products that consumers want to purchase is just one part of the battle when it comes to beginning a retail business. Another component of the equation is discovering how to get products to customers – and so if you don’t happen to have some collateral lying around, a traditional brick and mortar store is not an option.

 

The best new of all is that traditional storefronts are not necessary anymore if anyone wants to sell products. There are several ways to run your business without one. Here are a few examples:

 

Kiosks

Opening a kiosk is an excellent way for retailers that have a few products, making it possible to sell anything from skin care products t jewelry, and more. Kiosks are set up in such a way that that all extra charges are included in the minimum rent. Another advantage to having a kiosk is the traffic and high visibility they provide, allowing brand exposure without spending extra marketing dollars. A typical kiosk can range in price from $2,000 to $10,000 and can be from month to month in most instances. Invest in a great office chair and relax in style at the kiosk in style.

 

Farmers Markets

From farmers markets to festivals, crafts fairs, and other events, there are always places to set up and sell wares. Depending on the season, it makes a great opportunity for a side business in retail. Booth prices will vary depending on the scale of the event and location, with permit fees and marketing costs to be factored in. There is also the opportunity to set up a store online and advertise at the booth.

 

Food Trucks

Food trucks are now a popular trend, offering an affordable option for those that cannot afford a storefront that many entrepreneurs can pursue with little money to start up. Trucks can be rented at anywhere from $40,000 t $130,000 for a brand new one, with kitchen equipment that you order specifically for the project. Failure rates for food trucks are also substantially lower than investing in a brick and mortar restaurant.

 

Mobile Retail Units

It’s not only food trucks that have experienced a boom as mobile retails units have become another cost-effective way of doing business for retailers. Several stores have succeeded with this model, with various locations changing depending on the interest visa social media. Mobile retail units are available that are complete with interior and exterior branding, wireless internet access, heating, air conditioning, and more. The freedom they allow is exceptional and the best benefit is that retailers are not trapped in a lease.

 

E-commerce

 

If you want to sell and ship products, going the e-commerce route is an effective and easy way to start a business from the ground up. All you need to get started is a great website and shopping cart feature.

 

Pop-Up Shops

 

Pop-up shops are great during the biggest and busiest holiday seasons and are an effective way to jump-start sales. Additionally, it allows retailers to test products and offer a broader range to consumers.

 

Wholesale

 

Provide inventory for retailers if you desire to have your products where you don’t mind others selling the product. Being a wholesaler gives you the opportunity to produce a large amount of your products and then sell those to other retailers via an online site.