When set-up, whilst many shops experience immediate success, there are others that sometimes struggle. While there are no right or wrong answers as to why your charity shop may not be as successful as you wish, the truth is that there are certain actions you can take to footfall and sales. For instance, having competitive prices and stocking popular items are great ways to start.
However, knowing when not to do something is equally important. Some business owners may unknowingly commit mistakes that contribute to a lower rate of success, so it’s vital to learn what should be avoided in your shop:
Not Having a Sound Business Plan
All enterprises, new or well-established, need a good, concrete business plan. Without it, shops are likely to stagnate or, in the worst-case scenario, fail. Having a business plan from the start can help you estimate your financial needs, as nothing can make a business fail faster than underfunding! Also, it’s important to research your target demographic well, know which products to stock and stay on top of market changes.
Not Having a Clear Marketing Strategy
Brand awareness is vital, as it can help you differentiate yourself from your competitors. Having a clear and consistent brand can have a positive impact on your business, especially because it can attract new visitors and help you retain and grow your current customer-base.
Marketing your business allows you to reach your target audience, which will result in a higher number of visitors to your shop. Social media channels can help you do this and so can email marketing websites, which allow you to tell customers about upcoming events, offers and promotions.
An important element of branding is consistency, so make sure that everything your business does aligns with the key elements of your brand – everything from staff appearance to how you talk to customers.
Avoiding Newer Technologies
You may think you don’t need to constantly upgrade the technology in your shop, but times are continually changing and with them come newer, better technologies. An example is the EPoS in your shop. By ensuring you stay up-to-date with current systems, you’re likely to find yourself ahead of the competition.
This is because technology is always evolving to adapt to new opportunities and creating increasingly efficient processes that can help you sell your products better. A good EPoS system, can therefore help you grow your business.
All charity shop owners want to be successful. Achieving this success means applying strategies that can help you grow your business and increase your sales – it also means avoiding certain mistakes that can set you back.