New store opening – lessons learnt by @ModishShoes #IndieRetail

In celebration of Indie retail month I thought I’d share with you some of the highs (& lows!) of opening a new shop. A topic close to my heart as I went through this very process just a couple of months ago when  I opened the latest branch of my ladies shoe shop, Modish, in Cambridge.

Lets start with some context. I came into retail almost 4 years ago when I bought Modish, which was an existing business. I didn’t make a big deal of taking the shop over, not least because I was new to retail, and, to be frank, more than a little clueless. So I decided to go for a low key relaunch until I felt I knew what I was doing!  But this time I really wanted to make a splash, so I starting looking into how to do just that.

Planning, asking others, speaking to experts – proved to be invaluable!

I  already employed Clare Rayner as my retail guru, so she was my first port of call – and together  we worked on draft 1 of a project plan. A contact of hers,Becki Rowe from Retail Marketing Maxim, (who has opened more shops than I have pairs of shoes – i.e. a lot!) kindly gave me a couple of hours of her time and the benefit of her experience to tighten up the plan.

Armed with all this information, along with a slightly optimistic nature (!) I then set myself the  rather challenging deadline to open just 7 days after signing the lease. This was only feasible as I was inheriting a shop that needed minimal work, but even so, in the words of a corny football pundit, it was a Big Ask!

But we did it! And whilst it was really hard work, it was worth it. Not least financially as I really didn’t want to be paying rent on a shop that wasn’t trading for a moment longer than I had to.

The one thing that everyone had said – BT will take ages on the phoneline – expect that to hold you up…

So how was it? Exhausting. Exhilarating. But not all that stressful for most of the time, mainly because with the plan I knew what I was doing and when I was supposed to be doing it…

I say most of the time, because there was one thing that almost derailed the launch. The phoneline.

I’d applied for the existing telephone number at the premises to be transferred to me over a week before I signed the lease, i.e. two weeks before we opened. This should have been plenty of time as I’d been told it should take a maximum of a week. As it turned out the phone started working at 2pm Friday when we were due to open at 10am the next day. And it was only once the phone was working that we could install the PDQ machine! So I was dusting down my manual card machine and digging around for credit card slips just in case we couldn’t take electronic payments! Which wouldn’t have been a complete disaster, but not the most professional image for a new shop!

So having survived, here are my Top Tips for a successful launch:

Get advice before you start.

This could be from a retail expert and/or another shop owner who has held a launch that you admire. But unless you’ve done it before you’ll almost certainly forget to do important stuff. This will save you time, money and grey hairs!

Refit – try to book people who can be flexible if dates move.

Because they probably will! I do a lot of networking so many of my suppliers for the shopfit were prepared to do this as they knew me. Just one of the many benefits of networking – but that’s a tale for another blog!

Make setting up the Phone line & Broadband your BIGGEST priority

This was the best tip I got from both Clare Rayner and Becki Rowe. As soon as you’re close to closing in on a particular premises try to get on to BT to ensure the phone line is up and running as soon as possible. They may well be able to do nothing until you officially take over the shop, but  at least you won’t be starting from scratch. They should also be able to give you an estimate of when the line will be ready. If my experience is anything to go by, add at least week to that!

Knowledge is Power.

Talk to the letting agent and any friendly shopowners you can find to establish the quirky things about your area. It was only once I did this that I realised I needed to give the council 8 weeks notice to get signage up, that the only day I could freely move my stock to the shop was on a Sunday.

Be charming!

You will need a lot of help, and you’re more likely to get it if you are friendly and helpful!

Keep it simple

Unless it’s a really complex opening you’ll probably will find a simple excel spreadsheet will suffice for the plan. Just make sure you have deadlines against every item or action and that you regularly review and update it (as opposed to writing it, thinking to yourself ‘job done’ then leaving it in a drawer to fester!). A comments section came in handy for me too.

Contingency planning.

Having said all that try to have a plan B for the important items on your project plan in case things go wrong. And it certainly pays to physically print off a list of useful telephone numbers in case disaster strikes and either the power goes off or broadband goes down and you need to contact someone in a hurry eg plumbers, electrician, IT etc

and finally… Launch with a bang!

Probably the best promotion I did for my new shop was to employ some actors who wandered around Cambridge dressed as characters from the Wizard of Oz on the opening day. It got me a load of free publicity, takings on Day 1 were superb and my customers are still talking about it 2 months later!

This blog was written by Sarah Decent, proud owner of a beautiful new Modish store in Cambridge! Sarah is focused on opening a number of Modish stores as well as sprucing up the legacy outlets from the previous owner. Having gone through the process once she’s now got it sorted to do again and again!

 

Advertisements

About Clare Bailey

Clare Bailey, The Retail Champion (formerly Clare Rayner), is one of the most well-known and respected retail experts in the UK. With unrivalled knowledge in retail, high streets and consumer matters, she offers unbiased, independent content – whether engaged as a professional speaker, for broadcast media, or for a written feature. Clare is a business woman, entrepreneur and founder of several small businesses. Having been born into a family of successful business owners, it was inevitable that she’d eventually jump off the corporate treadmill and step out on her own! Today her brand portfolio includes The Retail Champion, The Retail Conference, the Future High Street Summit and the Support for Independent Retail campaign. In addition, she is co-founder of Mobaro Retail UK and a non-exec director of Beed Virtual Assistant Services. Having started her career as a fast-track store management trainee for McDonalds, she went on to work with leading retailers such as M&S, Dixons and Argos. She moved swiftly into management roles before being headhunted into senior consulting roles with global software giant SAP, and international management consulting brand, Accenture. Her corporate background in senior retail, consulting and technology roles, coupled with her experience of creating and running her own business, has enabled her to be equally capable whether consulting to global brands or micro businesses. This unique blend has not only positioned her as a leading expert in all things retail, but has enabled her to add meaningful commentary and insight to the debate around the future of the high street, and, how technology is driving fundamental change in the way consumers, and businesses, interact. Clare has become an influential voice in her field, which has resulted in her becoming a regular media contributor and sought-after conference speaker. Often seen on Good Morning Britain, BBC Breakfast, Sky News, and Chanel 5 (to name a few), Clare speaks on a myriad of retail, high street and consumer issues – but is particular adept when it comes to explaining the context behind retail trading results, newly released data, and government stats, in a palatable and informative manner. In addition to broadcast and conference speaking, Clare is the proud author of two best-selling business books published by Kogan Page - The Retail Champion: 10 Steps to Retail Success, published July 2012 and How to Sell to Retail: The Secrets of Getting Your Product to Market, published February 2013. She has provided contributions to various academic texts, including Retail Marketing Management (published by Pearson). With an engaging, conversational yet informative style, Clare writes for press and content agencies, providing features, articles, blogs and opinion pieces as well as contributions to white papers and reports. However, when the situation demands a more serious style, Clare can deliver - In 2016 she wrote an extensive report for a major insurance and risk law firm, as a retail expert witness, to support a public liability suit. She found that project particularly enjoyable as it played well to her strengths – assimilating large amounts of data and information, identifying the key points and articulating that in an understandable manner. When not on TV or speaking at conferences, Clare’s “day job” sees her supporting consumer-facing businesses through her consultancy services. When asked to describe what she most loves about retail consulting it is typically the opportunity to “dig deep”, getting “under the bonnet”, in order to leverage the business data to uncover the insights that lead to “lightbulb moments”. She also loves working on business change programmes that centre on improving the processes and systems to increase profitability by supporting more rapid, better informed decision making, improving the customer experience, or simply by become more efficient and streamlined. In this respect she considers herself a “business engineer” with a brain that works like a relational database! Due to her years of experience, her logical, objective approach, her quick, rational thinking, she is known for being able to cut through complexity, seeing right through to the crux of issues, finding creative solutions that others may have overlooked. As if all that wasn’t enough, Clare is a working mum, juggling a home life in rural Lincolnshire with her partner, their 5 kids, 4 cats, and geriatric Labrador! For all enquiries, contact Clare directly on 01727 238890 or email champion@retailchampion.co.uk.
This entry was posted in Blog-a-day for Indie Retail, Increasing Sales, Independent Retailer Month 2011, robust repeatable processes, saleable business, scalable, The Retail Champion and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s