In the world of small business, the decision to open an online store, a physical retail location, or both can be a daunting one. There are various factors to consider, from costs to customer preferences. To shed light on this topic, let’s delve into the experiences of two small-business owners who have navigated the waters of brick-and-mortar and online retail.
Linda Takano, the founder of LULUMIÈRE, started her journey from making soy wax candles in her kitchen to owning a brick-and-mortar store near the University of Washington. What began as a creative experiment turned into a successful business venture, with a mix of in-person and online sales driving her revenue. Takano’s story highlights the importance of evolving from a home-based operation to a physical storefront to cater to a growing customer base.
On the other side of the country, Prashant Patel took over Back Room Wines in Napa, California, and revamped its online presence while maintaining a strong physical presence on Main Street. Patel’s experience showcases the significance of updating technology and infrastructure to streamline online operations and enhance customer experience. With a balanced approach to brick-and-mortar and online sales, Patel has found success in catering to both local and online customers.
According to the Small Retailer Report by American Express, many small-business owners are investing in both in-person and online shopping experiences to meet the evolving needs of consumers. The data suggests a growing trend towards updating technology and enhancing in-person shopping experiences to drive customer loyalty and engagement.
For entrepreneurs weighing the decision to open a storefront or operate solely online, insights from Takano and Patel offer valuable guidance. Both emphasize the importance of having a robust online presence to reach a wider audience and facilitate customer engagement. Starting with an online platform can be a low-risk way for craft sellers to test the market and attract potential customers.
When considering the leap to a physical store, factors such as cost, customer demand, and creating a unique shopping experience come into play. Takano advises entrepreneurs to observe customer preferences at craft shows and farmers markets to tailor their business strategy accordingly. Patel stresses the importance of calculating sales targets and ensuring repeat customers through personalized interactions and email marketing.
In conclusion, the decision to open a storefront or operate online-only depends on various factors unique to each business. By understanding customer preferences, investing in technology, and creating a memorable shopping experience, small-business owners can navigate the complexities of brick-and-mortar and online retail to drive growth and success.
