Pop-up shops are used in many business sectors as a form of non-traditional retail. The motives for opening a short term retail business or location in Northern Ireland can be varied, and will depend upon the business opportunity you are trying to exploit. A pop-up can be a very effective business model for:
- starting up
- moving into a new market
- growth through brand awareness
Testing the market as a start-up
Pop-up shops provide potential entrepreneurs with a fantastic test bed for their business ideas. Finding finance for a new business idea can be a problem for potential entrepreneurs. Setting up a fixed-term business, with a strong business plan, can open up doors to finance. Demonstrating proven sales in a real world setting provides important evidence of a business's viability.
An existing business moving into a new market
Established businesses can use the pop-up concept as a means of testing a new business direction or market opportunity. Opening a pop-up shop allows a separation from your main business, allowing you to manage risk when moving into a new market.
Pop-up shops are a great way of moving into a new business area. Find out more about changing direction in business in find new business opportunities.
Get more information on issues facing businesses trading for short periods in financial advice for seasonal businesses.
Publicity and brand awareness
If your business has an established brand or product, opening a pop-up shop can be a great tool for increasing brand awareness and brand loyalty amongst customers. This can be used to target existing customers, improve communication and loyalty, and create a buzz to attract new customers.
Obvious opportunities are available in traditional locations such as shopping centres or outlet centres in Northern Ireland. However creating an 'event' feel could mean seeking a location for your retail or service pop-up in a non-traditional premises or area. For more information see find the right premises for a pop-up shop.
What's the big idea?
Make your plan