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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Grow your revenue with pop up spaces

If you run an ecommerce business, the thought of having an offline presence means incurring additional overheads not to mention the risk associated with running a brick-and-mortar store. The good news is that you can have a physical presence - albeit for a short time - with pop up spaces for hire. This option is inexpensive and less risky. Getting into a pop up space is a great way to grow your revenue without incurring hefty costs or dealing with the demands that come with leasing a permanent shop space.

Selling offline is a strategic opportunity to tap into a new market while keeping your operating costs low. The abundance of pop up space rental options these days means you can have a temporary physical location wherever you like to compliment your online sales. Running a pop up store will contribute to the growth of your revenue in many ways. Some of the main benefits include the following:

Test a new stream of revenue

Chances are you're driven by the desire to diversify your ecommerce business by increasing your revenue streams. A pop up store offers you a perfect opportunity to try out offline sales. You might only run your pop up store for a short time, but you might be surprised at just how much you will rake in from offline sales - and without the worry and expense associated with a traditional brick-and-mortar store. Even better, you could retain a significant customer base from your pop up shop, contributing to your revenue growth.

Engage your customers offline

The only thing that could be standing between you and prospective customers is their inability to see and physically interact with your products before buying. Most shoppers prefer to see and handle products before purchasing them. Setting up a temporary physical presence in a pop up space offers them the opportunity to do so and makes their purchase decision easier. The other advantage is that it helps avoid the issue of too many products being returned for failing to meet buyers' expectations. Most importantly you can drive more sales, meaning revenue growth.

Target new customers 

Sometimes the reason you make fewer sales is that prospective customers do not understand the benefits your products offer. A quick demonstration can help customers understand how they can maximise the value of the products. With this in mind, you could simply take a pop up space to offer product demos to your clients, walking them through how the product works and demonstrating the value they are buying into. When well-executed, product demos are guaranteed to help you grow your customer base, translating into an increase in your revenue.

Take advantage of seasonal and holiday sales

There's no better time to strengthen your bottom line than to tap into seasonal and holiday sales. Many shoppers put money aside specifically for seasonal or holiday sales so they can take advantage of the great price reductions. Many businesses opt to take a pop up space to coincide with these seasonal sales so they can offer their products to a ready market. By setting up your brand presence within a pop up space, you can grab a slice of the holiday sales and grow your revenue. Additionally, you will get an opportunity to test an emerging market, promote new products, liquidate surplus inventory, and increase brand awareness while keeping your overhead costs down.

Amplify brand awareness

There are lots of ecommerce businesses competing for the attention of the same clients at any given time. This can be a challenge - especially if you want to rise above the noise and be heard. It's an even bigger struggle to get your products in front of your target markets. A pop up shop offers you the opportunity to build a buzz around your brand and products by getting the attention of customers that may not have considered buying your products before. Growth in sales translates to more customers and revenue for your business.

In conclusion

Pop up spaces offer numerous opportunities to elevate your brand and business while growing your revenue in leaps and bounds. The best part is, you will enjoy all these benefits and grow your revenue without taking on huge overheads. This presents a perfect opportunity to expand your business reach.

Copyright 2021. Article was made possible by David Sessford, RankWarrior 

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