It may not be the season for jack-o-lanterns and trick-or-treaters but Halloween and the frenzy that comes with it presents an exciting opportunity for small businesses. If you’re a small business owner, you could earn a nice profit by setting up a Halloween-themed pop-up store.
Let’s get started on why a Halloween-inspired pop-up store might be a good idea for your small business. But first, let’s answer —
Why Go for a Pop-up Store?
A pop-up is a temporary store where you sell products for a limited time. Incredibly agile and versatile, pop-up stores bring a sense of urgency and excitement, creating a desire among shoppers to buy from them. This is especially true for a well-loved but short-lived holiday like Halloween wherein people are on the lookout for something special to buy.
So, whether you sell Halloween-themed baked goods, costumes, home decor items, lights, or candles — a pop-up can boost your sales. You can easily connect and interact with your customers more than if you were to operate online exclusively.
Even better, pop-ups are very cost-effective too.
You don’t have to spend tons of money to lease a shop or continue paying overhead even if you’re not making a sale. You can prepare a makeshift pop-up in your garage or backyard and start selling. Whether you sell offline or online, a pop-up store works equally well for both.
Additionally, the size of your business doesn’t matter. From home-grown entrepreneurs to big brands, just about anybody can host a pop-up.
Pop-ups also give you ample leeway to soft launch and experiment with new products. Let’s say you make aromatic candles and want to try out seasonal smells like pumpkin spice. You can create a limited number of these candles and sell them to see if there’s a market for them. If customers like it, you can make more to add to your inventory. If they don’t, you can simply move on to your next business idea.
Without a doubt, a pop-up is a good business model. Now, let’s understand why Halloween is the perfect opportunity to host a pop-up outlet.
Capitalize On Halloween Shoppers
Halloween is a hugely popular holiday in the United States. Its effect on the consumer goods industry is massive. According to the National Retail Federation (NRF), every customer spends at least $100 on Halloween goodies because there’s such a frenzy to indulge in its festivities.
While Halloween-inspired costumes command the majority of the market share, people also spend heavily on candies, decorations, and greeting cards.
Halloween is that one holiday when people are willing to spend money and that could mean good things for your small business. In addition, because there are so many types of items that sell during All Hallows’ Eve, it’s easy to find merchandise that can be sold.
Interestingly, most prefer shopping early for their Halloween celebrations. According to the NRF, those planning to celebrate the spooky holiday start shopping as early as September or even before then.
It goes without saying that these reasons make a Halloween-inspired pop-up store a promising idea to explore.
How To Launch Your Halloween-inspired Pop-up
To activate your Halloween-themed pop-up store, you need a plan to ensure its success. Here are a few easy steps to get you started:
1. Set a Goal
Ask yourself why you want to launch a pop-up and define a clear goal. From boosting sales to testing new markets and launching products, your pop-up could have more than one objective. But even before you begin, you need to know what they are because everything else depends on what you want to achieve.
2. Allocate a Budget
Budget for all the expenses of setting up your pop-up store. Account for the cost of renting a space, finalizing a location, and modifications that you will need to make to your venue. Don’t spare any details because the profitability of your pop-up depends on how well you budget for it.
3. Get Licenses and Permissions
Check for permits, licenses, and permissions you need to host a retail store in your chosen venue. The last thing you want is to end up in legal trouble. Getting all the paperwork sorted before the day of the pop-up is a wise thing to do.
4. Assemble a Team
While you do not need an army to run a pop-up, having a few extra hands on deck will make the job easier for you. Consider asking friends and family to help you out at the pop-up if you don’t want the added cost of hiring people. You can always thank them with gifts later.
5. Promote Your Pop-up
Let people know that you’re throwing a Halloween-inspired pop-up and promote your store before it opens. You can print pamphlets using Halloween flyer templates from PosterMyWall and distribute them in your neighborhood. Post your flyers in frequently visited public places like bus stops to encourage as much excitement and attention as you can.
Are you excited to hold your Halloween-inspired pop-up? Get started with these tips and you’ll be on your way to cashing in on the holiday even before it begins!