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Co-retailing or sharing retail space - anybody tried this?
I've discovered that although my shop is online-only, I'm getting a much bigger sales volume and better marketing ROI of my shop from in-person sales events. I've been doing pet expos and things like that. Which makes me wonder about things like pop up shops or co-retailing. I've done some Googling and emailing some local resources but I would love to hear if anybody here has tried these with a retail business.
In my research so far I've found that it will be some years before I can afford a "normal" lease for either a small warehouse or small retail space. I currently run my shop out of my house. One property manager for a large retail mall near me said that they'll do temporary retail leases for no less than a 90-day period. That doesn't work for me yet. I'm thinking I would love to do something in a small space one or two weekends a month. Sharing a retail space may be the solution but I don't know who to inquire with on such a thing.
I've also found that there are several "business incubators" around me, but they all cater to businesses that are more office/research/meeting oriented, not retail. Do you think I should reach out to them and suggest they try some sort of "retail incubator" where two or three small retailers share a space for limited time periods?
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Do you have flea markets where you live? They are big down here, and the most popular one near me is packed with people on the weekends and I believe to rent a space is $150 a month. It's not your classier clientele but it is sales and marketing.
I do not believe you are a candidate for the business incubator.
My local university offers free business consultation for small businesses. Maybe you could see if a university near you offers this and they may be able to offer you some guidance.
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I was able to find something similar to a flea market but more appropriate actually, for my shop: it's an open air market in an upscale location. The fees are very reasonable and they have both dedicated spaces or drop-in first-come-first-served spaces. I'm going to investigate that further.
I'm curious, why do you say I'm not a candidate for a business incubator? (Aside from the fact that I'm retail rather than technology)
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The incubator may work like my local university, they may be able to point you in a positive direction. But I always relate them to PR, ad agency, tech type businesses. It certainly never hurts to ask.
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Right, okay. I agree with you there. They seem like that to me, also. I think they're missing a large variety of different businesses that could benefit from "incubation".
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