If you pay much attention to the news, you will be aware that it is a difficult time to be a physical retailer – particularly a smaller one. More people than ever before are ordering their goods online these days, and every city centre in the UK is showing signs of damage.
But all those empty shops you see in your local town are also a significant opportunity. And make no mistake about it, some retail businesses are thriving. So, if you have ever considered opening a shop somewhere but feel the climate isn’t right, read on. Perhaps one of these ideas might suit you – and prove to you that retail is still alive and kicking.
Groceries
Small, privately owned grocers have been hit hard by the supermarkets over the past couple of decades. But these days they are making a comeback, which is great to see. Why? Well, consumers are fed up with the supermarkets and their rather devious practices. And more people are choosing to eat locally sourced produce, too. So if you can find some great local suppliers and find a great location, there is no reason you can’t succeed.
Builders merchants
The UK government is starting to come under increasing pressure to build more houses. It’s great news for the construction industry, of course. But it’s also fantastic for those that serve construction companies. Builders merchants, where tradespeople buy their raw materials and tools, will thrive in the coming years. If you can give your customers the very best deal, you will make a mark. You should focus on setting up in an accessible location, and also ensure you have a speedy and reliable service. Use other services to sharpen up your offering and stand out from the crowd. For example, My Build Estimate offer estimates for builders merchants. Services like these can help you save time and provide a better experience for your customers.
Craft beer off license
While the supermarkets have been hoovering up small off licenses over the past decade, there is still plenty of opportunities. The consumer trend towards craft beer has been one of the biggest success stories of the last few years, and retailers can take advantage. Establish relationships with local breweries and source other microbreweries from around the country. It’s a niche, for sure – but a growing one.
Lighting and electrical fittings
Businesses, organisations, governments, households – they all need light. The market is enormous, and although it might not have the glamour of other retail businesses, there is a lot of opportunities. It’s also worth pointing out that all light bulbs and lamps have a finite lifespan, which means people will always need replacements. You could also start setting up relationships with local electricians. Offer them trade deals and they will come to you over the competition, as well as bringing other business through your doors.
A bakery
Fancy yourself as a master baker? If so, why not take advantage of the numerous baking shows on TV and start selling your creations? Set up in a local community and you should have a shop full of customers who want fresh bread and pastries, baked on the premises.
Any more ideas for a thriving retail business? Let us know in the comments section below!
This article was provided by ellie jo