Co-op Ventures
Pop-Up Shops Pop-up shops are a great opportunity for first-time business owners to try out having a storefront, without the commitment of opening a permanent location. This style of vending is becoming all the more common, and it’s easy to see why: temporary storefronts are great for generating buzz, and are much more affordable than opening a permanent shop. Pop-ups give business owners the ability to see what sells best in the short term, and fine-tune their product line for sales opportunities in the future, thus honing their trade without breaking the bank. Of course, finding a suitable location can be challenging.
Mobile Business
Sharing space and expenses with complementary businesses can be of great benefit for new ventures. For instance a flower shop and a bakery can be a great fit; or a yoga studio and a massage therapist. It offers an opportunity to reach a diverse target market and keep start-up costs affordable. The ability to share rent, marketing and staffing costs can be a benefit to both ventures. These options are not only great on their own, but are also easily integrated into pre-existing business models. And because they can be paired with each other, they can truly help broaden the scope of your business, and give you the tools you need for success.
Fashioned after the food-truck business- model, the mobile business is quickly gaining popularity with start-ups and consumers. Operating out of an equipped vehicle you'll find mobile vets, pet grooming, salon and spa services and fashions. It may require special permits but you never need to worry about choosing a location for your venture allowing you to bring your business to the market. It's a great solution for a business that has a mobile target market.
FALL 2018 www.pei-living.ca
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