Running a start up business for many people can be a daunting experience. There are many things you need to think about, from the financial side to your legal and insurance requirements as a trader and possibly an employer. Not to mention the amount of work that actually goes into looking for the right property.
Getting the right start up business advice is the key to your success. Well, that and your determination and talent, but that goes without saying! Once you have your business model and funding in place it will be time to start researching the location.
One of the main difficulties for the start up business, apart from funding, is finding the right place to open up your shop, with lease terms that are right for them. Often small businesses find committing to a long term lease a difficult pill to swallow. That is why the pop up shop phenomenon has become so popular.
The average start up business may not have the experience to know how their new venture will perform, particularly in the current economic climate. So flexibility is an incredibly important factor in helping a fledgling business succeed. Using the pop up shop method you have a base for customers to visit, to build up your brand and experience, as well as having the breathing space of knowing you’re not tied into a long term contract.
So if you’re planning your first start up business or even if you’re a seasoned retail expert, we at Popupspace have a solution for you with our expert location sourcing services that can be tailored to your specific business requirements.
Sarah James, Popupspace
Insurance in general is often seen as a rather expensive necessary evil, whether that be car, home or standard retail insurance. But you never know what’s around the corner. When it comes to Pop Up Insurance you need something a little bit different than the standard policies on the market.
Standard retail insurance has many similarities to Pop Up insurance and offers a comprehensive package but generally on a long term basis. This insurance covers things like business contents, including accidental damage and theft, and also public and employer’s liability; which means the wellbeing of your staff and customers will be covered.
The difference between mobile phone insurance for example and Pop Up retail insurance is that it is a legal requirement. When small business start ups or organisations are starting out they may not necessarily know all there is to know about the world of Pop Ups. Letting Popupspace help you with this aspect of your new adventure means you don’t have to worry.
With our Pop Up insurance service you can expect terms tailored to your needs from periods as short as one month. This means you won’t have to pay for more than you actually need. We offer public and employer’s liability as well as products liability which covers any injury or damage to property caused by the goods that you sell in your shop.
Pop Up insurance also includes accidental damage, business interruption and loss of profits. So if the worse was to happen and something went wrong in your shop, you could feel safe in the knowledge that you are covered.
So if you are in the planning stages of your pop up shop or you would like to know more about how it all works head over to our Pop Up insurance page and apply for a personally tailored insurance quote.
Sarah James, Popupspace
Chocolatier and artisan baker Cocomaya is opening a pop up shop in time for Easter at London Heathrow’s Terminal 5. The shop will sell a range of delicious morsels such as cakes, pastries, sandwiches, chocolate bars and truffles alongside hot and cold drinks.
The pop up space within the terminal is designed to bring small artisan brands into the airport. Cocomaya is the first retailer to launch int he space and will be open until the summer.
World famous pop group One Direction have announced that their fans will soon get the chance to enter their very own ‘1D World’ in their brand new pop up shop – the first to open in the UK. The 5,000 sq ft store is in Leeds and will open on 23rd March, selling exclusive merchandise.
There will be special offers and competitions run in branch and the shop is expecting fans to arrive from all over the country.
The machine that is the 1D World brand has already seen thousands of fans pass though its stores in worldwide locations and this shop in Trinity Leeds Shopping Centre is sure to appeal to the loyal British fan base.
London Assembly’s Economy Committee has suggested a number ideas to reverse the decline in London’s high streets, including renegotiating rents and slowing the spread of pawnbrokers and betting shops.
The Assembly said that in 2000, a third of retail spending took place in out of town centres or on the Internet. By 2011 this had increased to 42% – and the number of empty shops in London has increased in the last two years by 5% to 3,400. The report also warns the vacancy increase is contributing to the decline, discouraging shoppers and leading to the closure of other retailers who might otherwise have survived.
The Committee has called for London-wide support to renegotiate rents, a new register of owners of vacant shops so landlords can be easily traced and pop up and interim uses for empty shops.
Andrew Dismore, Chair of the Economy Committee, said: “Our traditionally diverse and interesting high streets are blighted by the number of empty shops which are a deterrent to customers, discourage further investment, and create an air of decline.”
A spokesperson for the Mayor of London said more than £250m was being invested to help bring vacant properties back into use, revitalise shop fronts and to support trade and generate jobs.
“The Mayor welcomes this report and will continue to work with the boroughs, government and business groups to help unlock the economic potential of London’s high streets,” added the spokesperson.
Charity workers have been amazed at the level of donations for a new pop up charity shop. The Opportunity Box - located in St John’s Street, Coleford - is supporting the work of the Children’s Opportunity Centre.
The shop’s organizer, Georgina Ford, said: “We have been absolutely overwhelmed at the support we’ve had. There has been so many donations – anything you could imagine someone wanting to donate, we’ve got it.”
The shop has been donated for free for the month by a generous local landlord.
If you are in the area, pop in and take a look.