Are pop ups and shared space the best route to starting a new business?

Pop up businesses

Just like the Jack-in-the-box you used to play with, entrepreneurs starting new businesses are popping up all over the place as well. 

Enterprising entrepreneurs are planning start ups differently now, starting a new business quickly and easily by using a self-storage facility to hold stock, working out of a shared workspace and temporarily renting a pop-up space when they want to sell face to face with the public or test a new market rather than using a traditional shop.

Shared workspaces

More and more we are seeing self-storage facilities are becoming rather popular as an alternative to a traditional shop front. This is particularly the case with those businesses that don’t really need to interact directly with the public as a normal retail street shop would do. It seems there is no end of pop-up entrepreneurs who are coming up with great business ideas.

 The most popular pop-ups to visit and spend money in are farmers’ markets, food and beverage shops and fashion stores – more than 40 per cent of people who have visited a pop-up shop in the last 12 months have been to a farmers’ market. This doesn't take into account the e-commerce businesses also popping up every day.

There are websites now devoted to pop-up shops and businesses for example  which will help you find a space, share a space or advertise your pop up shop and the newly revamped Victoria Park Markets  is set to be a new retail space giving retailers the option to set up pop-ups over the busy Christmas period for three months.

So whether you’re starting your first business on your own or you’re an established company testing out a new location or product, pop-ups have become a tried and tested business strategy.  However, it is good before you go ahead to have a checklist to ensure your time and money are well spent – get a mentor that has knowledge in the pop-up space, get the right technology in place to allow customers to be able to pay electronically, reearch your pop-up locations and check your temporary leases thoroughly.