You spent a lot of time putting your blood, sweat, and tears into a retail business on the high street and yet it’s only doing ‘okay’. Okay is not what you aimed for and so the best option for your business is a relaunch. It’s well known that 50% of businesses fail in their first year of trading, but if you’re on the ball you can stop this from happening to yours.
Bringing a business back to life that is struggling is going to take more than a few posters stuck to lampposts. You need to think about upgrading equipment so that you have the best of the best at the ready for purchases. You need to think of your current company website and branding and look at whether it would make sense for you to rebrand your company as a whole. Use a trusted sign & lettering company to get branded signage for the exterior of your store too.
Yes, you put in a lot of work once to get the business off the ground in general – but if it’s not making any money and it’s not exciting the customers, then change is required to continue. Reigniting your business and gaining back some of that enthusiasm takes some work, and we’ve put together some tips for you on just how you can do that.
- Deliver Happiness. Your customers have to be the central focus to your relaunch. Reignite those focus groups and market research surveys. Canvas on social media to find out what people want from you – they’re far more likely to have a voice online and if you have a social media presence this is a great way to get people talking about you again. If you can gear your rebrand toward your customers while not losing sight of what you want from your business, you’re onto a clear winner. Customers provide profit and it’s this profit that will keep you afloat.
- Ask For Help. You may be trading alone and running things by yourself. By rebranding and relaunching, it’s clear that this isn’t working for you. Bringing someone else on board in a partnership with you can change the entire game and give you a fresh perspective on everything from the suppliers you’re using in store to the colors on the signage outside!
- Be Present. A retail store that has a business owner on site that can answer questions and be available to speak to is a huge plus point for a company. You being present gives people the impression that you are serious about what you do and how you do it, and you can also sell more of what you’re about if you’re there in person to say so. It leaves a good impression on people if you are there for them.
A company needing a reboot may feel like they’re failing. It’s simply a case of being better at what you can offer people. You can do this by listening carefully to what they want and tying this in with what you want – it’s doable, it just takes some grit!Published in