5 Steps to Opening a Successful Store

4 min readOct 31, 2022

With the dominance of the e-commerce sector, the need for retail stores has somewhat declined, yet, few things are just better at traditional stores. We cannot imagine our lives without the local grocery store, luxury clothing outlet, or nearby pharmacy. Despite the convenience of Swiggy, Zomato, and Urban Company, quite often, we find ourselves visiting a café or a salon. As I said, a few things are just better at traditional stores.
This week I chatted with IITians Nitin Saluja and Raghav Verma, who founded Chaayos, a multi-million business, by selling chai. Among many other things, we spoke about the key factors to take care of when starting a store. So, here are the five things that matter most when starting a traditional store.

1. Finding the right location

Location is of paramount importance for a physical store. An obscure area may ensure cheaper rent and zero competition, but it also secures very few customers. A prime location may seem too expensive for a startup, but the shop almost markets itself when the area attracts a bustling crowd. Still, managing the overall budget is crucial, so opting for the busy marketplace may not be an option for your business. Try to balance budget and location according to your company’s profile.
Before finalizing, you can survey the place for a few days to check the general crowd that visits the usual shops. See if that fits the criteria of your target audience. You can also talk to other shop owners nearby to understand the atmosphere of the place throughout the year. The availability of public transport, parking space, or general store operational hours should also be factored in when deciding the location.

2. Building brand awareness

You chose the right location with significant footfall, but that may not be enough to attract all the potential buyers. Letting your customers know the right message behind the brand is crucial, so you must build brand awareness with the right marketing strategies.
A nice storefront is the quickest way to catch the attention of people. Having an online presence helps as well. Harness the power of social media websites and post regular photos and videos of the store and your products to redirect customers to your shop. Advertising in local newspapers may also be helpful based on the area.

3. Understanding the legal nitty-gritty

While the store’s location, layout, and inventory seem like the fun part of planning the launch of a store, there is an equally important yet not as fun part. Understanding and implementing the rules imposed by the State and Central legislative bodies.
It includes registration of your business and obtaining necessary licenses and permits. You can always go to legal experts to make sure your establishment is not violating any law. The official government portals usually feature a page for businesses to guide them to the concerned department.

4. Hiring the right staff

Based on the nature of your business, you may decide to run a one-man (or woman) show, but it may get challenging to manage the store during busy hours. So getting help is sometimes the best option. The people you hire make a direct impression of the firm on the consumers, and they may be the first and only points of contact for many. Therefore, you need to have a carefully thought-out recruitment plan.
The role may demand prior experience, specific hard skills, certain soft skills, or more. Prioritize which inherent qualities are necessary for your business and which skills can be taught after onboarding, and select the candidates accordingly.

5. Offering a happy experience

It is vital to ensure your customers have a positive experience at the store. Welcoming your customers to the store with a warm smile or offering them assistance proactively — a small gesture can go a long way. Your product may have the capability to earn the adulation of hundreds of clients, but a poor experience at the store will quickly make them turn on their heels.
If you run a food business, you can offer a sample from the menu; or for clothing stores, a product trial before payment can make a great impression on your customer. Whenever feasible, a flexible exchange, return, or refund policy can offer your customers a pleasurable in-store experience.

The first impression can often be the last one. Therefore, a successful launch of your new business paves the road for future prosperity, so give your heart and soul to fulfilling all the necessary steps. Follow these tried and tested formulas that have proven helpful for most businesses, and expect your business to flourish in no time.

Have you ever thought of opening a store? Let me know in the comments. And listen to my podcast here for such candid chats.