How to Open a Retail Store Checklist: The Complete Step-by-Step Guide [+ Free Download]
Stepping into Reality: Brands are moving from digital to physical retail to boost sales, as brick-and-mortar stores offer a unique customer experience that can't be replicated online.
Sales on the Up and Up: Retail sales are experiencing strong year-over-year growth, making the move to physical stores an enticing opportunity for digitally native brands.
Clicks Meet Bricks for Brands: While ecommerce provides convenience, physical stores offer an unmatched experience, prompting brands to expand into the physical retail landscape.
Check Yourself Before... Well, You Know: Starting a retail store is a big thing, so you need a checklist ready to make sure you don't miss some essential steps along the way.
Allbirds. Bonobos. ThirdLove.
The list goes on when it comes to digitally native brands making the leap into physical retail.
Why are they doing this?
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You probably already know the answer—retail sales continue to see strong year-over-year gains, according to the National Retail Federation.
Ecommerce offers convenience, but brick-and-mortar stores are irreplaceable when it comes to customer experience.
Sixty-one percent of US customers find in-store shopping more appealing because it allows them to try on items and compare them firsthand. In Europe, 90% of shoppers agree.
So whether you're following in the footsteps of these brands by expanding into retail or you're a budding entrepreneur putting your idea into action, you need a solid game plan.
That’s where a “how to open a retail store” checklist comes in handy.
Why You Need a “How to Open a Retail Store” Checklist
No one can be in ten places at once. But missing one key step—like a permit, a budget miscalculation, or the wrong lease—can create a stumbling block for your new retail business.
A how to open a retail store checklist helps you avoid rookie mistakes and anticipate common pitfalls that may come your way, such as:
- Inadequate funds. No matter how great your business idea is, if your bank account runs on fumes, you won’t make it far. Forty-four percent of startups fail because they run out of cash and 47% due to lack of financing. Budgeting, securing funding, and tracking cash flow should be non-negotiables in your prep work.
- Poor location choice. Sixty percent of businesses that pick bad locations see revenue drops in their first year. Before signing a lease, research your local demographics and target market demand to maximize sales potential.
- Legal noncompliance. Legal paperwork isn’t the most glamorous part of starting a retail shop. Fifty-one percent of small business owners say dealing with licenses and permits slows their momentum. But ignoring them could cost you your business. Fines, lawsuits, and closures are never worth the risk.
- Inventory mismanagement. In 2023, businesses worldwide lost $1.77 trillion due to these inventory risks. Overstock drains cash and inflates storage costs, while shortages drive customers away empty-handed. A streamlined purchase process and stronger supplier relationships can help you avoid these costly mistakes.
- Staffing issues. Hiring the wrong people (or not hiring enough) can stretch your team thin and lower service quality. Short-staffed small businesses scale back by reducing hours (23%) and dropping certain services (24%). With a thorough hiring plan, training schedule, and staffing strategy, you’ll be able.
It's time to put a game plan together to minimize these risks. I’ve broken the checklist into bite-sized categories to help you tackle each step one at a time.
The Must-Follow Checklist for a Smooth Retail Opening
Use this “how to open a retail store” checklist as a roadmap to track your progress and stay on course.
Every local business is different, so don't be afraid to tweak the timeline, budget, and strategies to match your goals.
Business planning and research
Twenty percent of small businesses don’t make it past their first year, and about 50% close within 5 years.
Some businesses lack a clear marketing plan. Some burn through their cash too fast. Others jump into the deep end without examining their market or setting realistic goals.
Planning upfront can feel like dragging your feet at first, but it will lead to fewer hiccups down the road. Having a clear plan will help you get where you want to go.
Here’s what you need to do:
1. Conduct market research
Brick-and-mortar shops penetrate local markets, so you need to understand what market segments are present and what they want.
An even more crucial question: Do your products meet their expectations and needs?
Quite often, your competitors aren’t doing great because they have better products, lower prices, or some magic formula. More likely, it’s because they’ve done the groundwork to understand what customers want.
Ask yourself these questions:
- How do they position themselves?
- What trends are they capitalizing on?
Analyze where your competitors fall short using surveys, social media insights, and local feedback, and position your brand to fill the gap. The more you know, the better you can plan your business.
2. Develop a business plan
Your business plan is a blueprint for how you'll run and grow your business. It translates the research insights earlier into how your business will operate.
The U.S. Small Business Administration (SBA) offers downloadable business plan templates to help startups. These only cover the basics, so tweak them to meet your business needs.
Reminder:
You’re not writing a novel here. It [business plan] could be an outline.
It doesn’t have to be anything elaborate as long as it serves its purpose: gathering your ideas, putting in paper what the business model will be, creating some financial projections, and validating those projections.
Analyze pricing and revenue goals to determine when you'll break even. Investors and lenders will favor you if you’re equipped with a mapped-out success plan.
3. Set up business finances
When you merge your personal and business finances, you’re putting all your eggs in one basket. So if things go wrong with your company, you also put your personal assets at risk.
Take a cue from 71% of small businesses that sought funding to run their operations.
A majority of business owners (61%) use credit cards to fund their businesses because of quick access to capital, flexibility, and rewards.
I’ve always found that business lines of credit and strategic partnerships with local vendors work well, especially for smaller retailers.
But for ecommerce brands, there’s often an opportunity to leverage existing customer loyalty programs. These can not only help fund the expansion but give you a loyal customer base ready to shop at your new location from day one.
Make sure your financial transactions are kept in check with dependable accounting software.
Sync it with your ecommerce store, payment processors, and bank accounts to automate tracking and reduce costly manual errors. Come tax season, your accountant will thank you.
4. Secure funding for your store
This factor comes down to two options: self-funding or external financing.
Self-funding, also known as bootstrapping, gives you complete control over your business. Every dollar of profit is yours, but the financial risk is all yours.
External financing (e.g., business loans, investors, crowdfunding, or grants) provides more capital upfront. It lets you scale faster, invest more in inventory, or secure a prime retail location.
SBA can grant you loan programs from $500 to $5.5 million.
However, loans come with interest rates, while investor funding may require giving up partial ownership and decision-making power.
Calculate your startup costs vs projected profitability to determine the most sustainable funding approach. The goal is to have enough runway to get your store off the ground without over-borrowing.
Small businesses need to think like investors. Taking on additional capital should preferably happen when there are available investments that can be made with that capital.
For example, buying a new piece of equipment that will help satisfy increased orders.
Legal and regulatory requirements
Suppliers, landlords, and financial institutions require proof of legal business status before working with you. Creating a “how to open a retail store checklist” early helps secure high-value opportunities without roadblocks.
Add these to your to-do’s:
5. Register your business
First things first: pick and register your business name. The ensuing steps can vary based on your business structure and state/country regulations.
In the US, for example, see below:
- Sole proprietorship: You’re the sole owner; no legal distinction between you and the business
- Partnership or Limited Liability Company (LLC): This protects your personal assets with flexible management but costs more to set up
- Corporation: You get strong liability protection but are taxed twice (on profits and dividends)
You can look up your state’s specific registration steps on the SBA website. Then, apply for an Employer Identification Number (EIN) through the IRS. This 9-digit number is essential for tax purposes, opening business bank accounts, and hiring employees.
Exception: Sole proprietors without employees can use their SSNs instead—unless required by a bank or state agency.
Outside the US:
Sole proprietors must register their business name and obtain a tax identification number through their country’s tax authority.
- In Canada, sole proprietors and partnerships can use their Social Insurance Number (SIN), but corporations must register with the Canada Revenue Agency (CRA).
- UK-based solo proprietors can register for self-assessment. Those starting a limited company or corporation must prepare the necessary documents and register the business with Companies House.
Your country or state’s official website has step-by-step registration guides. Do your homework and read through the requirements before visiting the office.
6. Obtain necessary permits and licenses
Retail licenses and permits depend on what you’re selling and where you’re setting up shop.
Fees vary by state, county, or city, but the basic ones include:
- General business licenses: Legal permission to operate in your city/county
- Sales tax permits: Required if selling taxable goods and/or services
- Zoning permits: Guarantees your business location complies with local zoning laws
- Sign permits: Required if displaying exterior business signage
Health and safety permits like FDA, OSHA, and local health codes apply to US-based businesses involving food, chemicals, or physical storefronts.
If you’re operating outside the US, the FDA published a list of its counterpart agencies.
More country-specific licensing requirements are easily accessible online. Here are some for the US, UK, and Canada.
Alternatively, you may reach out to compliance firms like Registrar Corp to navigate these regulations and maintain customer trust.
A total of 1,000 businesses were at risk of fines and recalls, but Registrar Corp helped them comply in just six months.
7. Get retail insurance
Retail insurance is a small price to pay for financial protection and peace of mind. Plus, it earns you credibility with landlords, suppliers, and customers.
An unexpected fire, a customer slipping on a wet floor, or even a break-in—knock on wood—could spell financial disaster for your new retail store.
Ninety percent of small business owners aren’t confident they have enough insurance coverage, while 30% don’t have any at all.
Below are the most purchased policies:
- General liability: 52%
- Business owner’s policy: 41%
- Workers’ compensation: 29%
- Commercial property: 24%
- Commercial auto: 21%
- Errors and omissions: 20%
- Product liability - 18%
- Data breach: 10%
Know what risks your business faces when deciding on your plan.
For example, does your store sit in a flood-prone area? Having separate flood coverage offers you better protection than standard property insurance.
Get quotes from multiple providers and compare coverage, exclusions, and costs.
Retail location and lease negotiation
High-traffic location matters, but so does the research behind it. High foot traffic does not matter if you only attract customers outside your target market.
Here’s how to start your research, assess the area, and negotiate a lease that works in your favor:
8. Identify the best location for your store
You may have a harder time choosing a store location than an ecommerce platform because you have to make sure your target customers are within a certain radius.
Thirty-two percent of in-store shoppers discover new products through in-store ads like storefront displays, kiosks, and signs.
The more reasons people have to stop by, the more likely they will.
To find the right spots, check out public data like bus or train station reports or foot traffic stats from malls.
However, traffic isn't the only variable. Analyze the location's demographics, accessibility, and competition.
When scouting for a retail space for ecommerce brands, it’s a top consideration to ensure that the community fits with the brand’s core values.
Since our brand focuses on sustainability, it’s key to find a location where the community already appreciates and would adapt well to being more eco-friendly.
Take time to observe the area at different hours of the day. Is it easy for people to get to you? Think about parking, public transport, and walkability, as well.
9. Negotiate your lease agreement
A prime spot isn’t worth it if the rent eats all your profits.
“Before signing a commercial lease, make sure it includes terms you agree with and essential legal clauses,” Realtor Gary Brackett advised.
He also has a few extra pointers:
- Choose a short-term, renewable lease instead of a long-term contract.
- Set your personal guarantee only for the remaining lease term if you decide to quit early.
- Offer only your fair share when it comes to major repairs, like a new HVAC system or roof repair.
If your lease ticks the right boxes for flexible contract terms and exit options, it’s a win. But don’t forget to watch out for hidden charges like maintenance, utilities, and repairs.
10. Set up utilities and store security
While I know you're eager to get started with your store design, hold up. Sort out your store’s utilities and security first.
Thirteen percent of small businesses report theft every single day, while about 25% estimate losing $1,500 to $2,000 monthly.
These security case breaches have a negative ripple effect that goes way beyond the theft itself, including:
➡️ An increase in shrinkage and financial losses.
➡️ A rise in customer dissatisfaction
➡️ A loss of trust by store management
➡️ Additional time, labor, expense
Alex Bell, Asset Protection Manager at Walmart Inc.
Contact electricity, internet, and water providers as soon as you sign the lease, and ask about installation timelines to avoid delays.
Install security cameras near entry and exit points, cash registers, point of sale systems, and aisles with high-value items.
Store setup and design
Setup and design curates the experiential environment you deliver to your customers. And if you make it meaningful, studies show that some 43% of shoppers are more likely to buy from you.
Make the following part of your “how to open a retail store” checklist:
11. Plan your store layout for optimal traffic flow
Did you know that Americans generally turn right when they walk into a store? That’s useful information when designing a traffic loop that optimizes customer flow.
To create an effective store layout, focus on these core elements:.
- Decompression zone: The first few feet after the entrance, where customers transition from strolling to shopping mode. It’s key to building a positive first impression, so keep it open and inviting.
- Power wall: The first wall customers see, where you can display high-priority items. Appealing and high-margin products should be eye-level.
- Resting points: The small open areas or seating spots where customers can slow down and focus on the items around them. Design this well by ticking off the next item on our checklist (stay tuned).
- Checkout area/s: The natural endpoint of your traffic loop, where customers make their payments. If customers start on the right, the checkout should be on the left.
Refresh your store layout a few times a year. The idea is to keep things fresh without causing returning customers to lose their way in the store.
Every space has its feature and secondary feature areas based on visibility upon entrance, impulse area based on proximity to the cash desk, and core vs lifestyle areas.
It ‘s critical and often overlooked to strategize the categories beyond the standard product types, but rather, as collections in addition to the commodity sections.
Once the categories are formed, the retailer would then allocate each category to its logical areas of store based on priority and smooth adjacencies to create a smooth consumer journey as clients navigate through the space.
12. Purchase store fixtures, displays, and furniture
A monotonous layout will only bore customers or make them overlook your offerings, so variety is necessary.
The right mix of shelving, checkout counters, signage, and lighting can channel your store's personality and build an awesome shopping experience for in-store customers.
In fact, store displays account for 16% of impulse shopping.
When selecting fixtures, furniture, and displays, consider:
- Design. The color, shape, and feel should align with your brand identity. For a modern store, glass and metal might fit the style better, while warm wood tones are perfect for a cozy shop vibe.
- Durability. Fixtures should withstand regular use and occasional rearranging. Look for sturdy materials like powder-coated metal for shelving, tempered glass for display cases, and solid wood for counters.
- Versatility. Fixtures should evolve with your store. Consider modular shelving, rolling racks, and those that have dual purposes (i.e., display tables that feature a hidden storage).
- Positioning. Fixtures should complement your traffic flow strategy. For example: Place displays next to checkout to encourage impulse purchases and use end caps for promotions.
Design your retail space to create the atmosphere you want and encourage customers to make purchases.
13. Install a reliable POS system
Point-of-sale systems refer to the hardware and software needed for sales transactions. In stores, a cash register quickly comes to mind—but that’s old school.
Modern POS systems like Helcim have different hardware options like a terminal, card reader, and Tap to Pay on iPhone. They also allow for virtual payments, which makes them a great all-around choice for multichannel businesses.
Beyond processing transactions, a POS system helps track revenue, analyze customer traffic, manage inventory, and even streamline employee management.
Look for a POS system that’s easy to use (consider the staff and who else needs access) as well as allows for mobile sales.
Ideally, the POS should be easy for anyone to update—products, pricing, inventory, etc. and not add costs to your P&L.
You can’t really get around credit card fees, but some POS systems also charge subscription fees or hardware fees.
If you’re looking for more POS options, here’s a list:
Inventory management and supplier relations
Keeping inventory levels safe and secure in the Goldilocks Zone (not too much, not too little—just right) is hard work.
Lay the groundwork by ticking off the following “how to open a retail store checklist” items:
14. Choose the right suppliers and vendors
A stable supply chain starts with forming value-aligned, sustainable partnerships.
Look for suppliers and vendors that offer:
- Superior quality. Doesn’t fall short of your brand's expectations.
- Reliability. Has a proven track record of on-time deliveries and dependable service.
- Flexibility. Can scale production to fit business needs as it evolves.
- Cost-effectiveness. Offers competitive pricing with zero compromise on quality.
- Transparency. Provides open, honest communication about pricing, lead times, and potential delays.
- Exceptional customer service. Has a responsive team that quickly addresses concerns or issues.
Once you've found the right partners, always negotiate to secure the best terms and protect your business.
Set clear payment terms, delivery schedules, and penalties for late deliveries to avoid disruptions and maintain strong supplier relationships.
15. Set up inventory management software
The inventories-to-sales ratio in the US is 1.09%, which is fairly balanced, so maintaining it is essential.
If it goes higher, it’s a sign you’re suffering from excess inventory. Any lower, and you’re more prone to stock out.
Either way, it will affect your cash flow.
Invest in an inventory management solution (IMS) to enhance your supply chain visibility. Most IMS have real-time tracking of stock levels and store valuable product info like SKUs and reorder points to ensure accuracy.
Some, like Cin7 Core, also have replenishment features to help you plan when and how much to order. Brands like I Love Ugly have used it to manage their inventory in their online and physical locations.
If you need more options for IMS, check out the following:
For online merchants embracing physical retail, here’s some great advice:
Most ecommerce brands underestimate how different in-store demand is and either overstock or have constant stockouts. Best way to avoid this?
➡️ Start with a curated SKU selection. You don’t need to bring your whole online catalog into the store. Test what sells first.
➡️ Use your online bestsellers, but localize them. What works online doesn’t always translate in person. Test different pricing strategies and bundles.
16. Establish pricing strategies and profit margins
New businesses often focus on getting their innovative ideas off the ground, but pricing them shouldn’t be an afterthought.
A well-defined pricing strategy ensures that you’re running a profitable business.
Consider these pricing strategies:
- Value-based pricing: Sets prices based on the perceived benefits your product offers to customers.
How to price your product effectively using The Pricing Strategy Matrix: pic.twitter.com/j18hlCXdjb
— UsmanSheikh (@UsmanHSheikh) June 20, 2023
- Cost-plus pricing: Calculates price by adding a markup to the total cost of production, including raw materials and labor.
- Dynamic pricing: Adjusts prices based on market demand, competitor pricing, or other external factors.
- Competition-based pricing: Determines price based on the cost of similar products in your category.
Pricing should be aligned with your brand positioning, target market, and financial goals. Observe market trends, customer feedback, and business performance to optimize your profit margin
Technology and systems setup
McKinsey declared that technology transformation is indispensable in retail.
Modern entrepreneurs rely on technology to keep up with customers’ need for efficiency and personalized experiences.
Make sure your technology and systems are set up correctly to cope:
17. Integrate ecommerce with your brick-and-mortar store
Sixty-six percent of online purchasers rely on brick-and-mortar stores before and after buying. A new shop isn’t just another sales channel. It also supports your ecommerce sales.
With 10% of total online orders being BOPIS (buy online, pick up in stores) and 63% of shoppers prefer BORIS (buy online, return in stores), you can attract more customers looking for a streamlined shopping experience.
Therefore, you need both channels working together seamlessly.
That includes centralizing all your data (sales, customer info, accounting, inventory, to name a few) so you can track performance and optimize your marketing efforts.
An omnichannel commerce platform like Bloomreach can help here.
For example, furniture retailer Kondela struggled with collecting in-store customer data to re-engage them online.
With Bloomreach and Voxwise, their sales associates started curating product selections based on interest shown by in-store customers.
The list can be sent to those who opt to receive it via email. Armed with this data, Bloomreach then created personalized campaigns, resulting in a 24.5% conversion rate.
Want to connect your sales channels like this? Check out our picks for top omnichannel commerce platforms.
18. Set up payment processing systems
Setting up payment processing is one of the most satisfying steps because it guarantees that your business receives payments.
Payments made in cash have gone down to 16%. Shoppers are looking for more frictionless solutions.
Make sure your store can handle credit cards/debit cards, mobile payments, and contactless transactions.
For that, you’ll need two key systems:
A payment gateway: It uses the card-reading device in your store (digital portal for online sales) to connect to your payment processing network.
It verifies credit card information to ensure everything checks out, like a bouncer at the front door making sure only valid transactions make it through.
Choosing a reliable provider can shield you from payment fraud.
Find our top picks for payment gateways here.
A payment processor: Once the gateway approves the transaction, the payment processor securely moves the funds between the customer’s bank and your merchant account.
It’s the middleman that makes sure the money lands where it should, taking care of approvals and declines, as well as security measures.
Find our recommended payment processors here.
19. Automate retail operations with software
If you’re already managing an ecommerce business, you know it has plenty of moving parts.
Adding a retail store? You’re adding more to the pile—new warehouse, new staff, new inventory.
Having retail operations software at your fingertips is your best bet for handling this added complexity. It monitors both front-end and back-end activities on a single platform.
For example, Oracle Retail supports a range of essential retail operations, including:
- Inventory management: Tracks stock levels and provides better inventory control.
- Demand forecasting: Predicts sales trends and rebalances supply accordingly.
- Pricing optimization: Sets competitive prices according to market trends.
- Workforce management: Provides a fully-integrated HR solution for managing schedules and payroll
Oracle Retail also supports omnichannel retailing, keeping your digital and physical sales channels in sync.
Aside from Oracle Retail, here are other retail management software worth considering:
Hiring, training, and managing staff
Running a retail business alone is possible if you plan to cut costs. But as transactions grow and the store becomes busier, consider building your dream team to help take the pressure off.
Create a solid team by checking off these checklist items:
20. Hire your first employees
Define positions, recruitment and hiring processes, salary structures, and store policies. When you decide on the roles (e.g., store manager, sales associate, or stock personnel), specify their responsibilities.
You don’t need a laundry list of tasks. Build your job roles around what you find most challenging.
- Can't keep up with the daily influx of customers? Bring a sales associate on board.
- Can't manage all team members? Hire a store manager.
- Can’t handle the deluge of customer inquiries? Bring in a customer support rep.
Don’t wait until later!
You can start building your talent pipeline early by networking, attending industry events, and connecting with potential candidates well before you have an open position.
21. Train employees in retail operations and customer service
Retail staff members are the face of a successful business.
The warmer they are in-store, the better for your bottom line because 42% of shoppers would pay more for that friendly atmosphere.
Train your staff to become product experts, optimize the checkout experience, and subtly promote upselling opportunities if the customers can benefit from them.
I’ve been here almost 20 years, and I’ve seen the evolution of how we train our employees, starting with textbooks.
We have such a diversity of customers coming into our stores, and when our store staff are experts, it helps build loyalty.
Blend the technical aspects of daily store operations (e.g., POS system training) and the soft skills needed for great customer service (e.g., active listening and conflict resolution).
Use role-playing simulations, hands-on workshops, and regular feedback sessions to make your training more interactive.
22. Set up payroll, HR, and scheduling systems
Prep the back-end systems for staff management. Doing so will help you avoid tax filing delays, labor law violations, or getting into hot water with staff over salary mix-ups.
You can outsource this to a third-party provider like Intuit QuickBooks Payroll if you don’t have the resources to train someone or don’t want to invest in software.
Another option is to automate payroll in-house with an ERP system.
Case in point: Netsuite helped N&N Moving Supplies, a family-run moving supply business, automate their payroll and accounting systems after expanding to three locations.
The retail service company cut payroll processing time by 84%, improved hour and vacation tracking, and assessed labor expenses better across multiple sites.
Branding, marketing, and customer acquisition
Having a distinct brand identity sets you apart from your competitors. Done right, it helps you connect with your customers on an emotional level.
The following “how to open a retail store” checklist items will help you create a story that will make your brand memorable.
23. Create a compelling brand identity
This is a big decision—your brand identity needs to be something you can fully embody, from visual elements like logos and packaging to marketing strategies and the in-store experience.
Think about how Apple’s brand identity of simplicity and innovation is reflected in everything they do—from their sleek product designs to their minimalist ads and the lifestyle they encourage.
So when coming up with a brand identity, think about:
- Target audience: Who are you trying to reach?
- Industry: What sets you apart from competitors?
- Brand purpose and goals: What do you stand for?
- Personality and messaging: How should your brand sound and feel?
- Competitors: What are others doing, and how can you stand out?
A strong brand identity makes it easier to stay top of mind. And even easier to stay consistent in everything from marketing to customer interactions.
This consistency pays off: brands that maintain a cohesive identity could increase revenue by up to 20%.
24. Launch a marketing strategy before opening
Pre-launch marketing is necessary when opening a retail location, whether it’s your first store or one of many.
Brands that already have some online presence have a real edge here. Let your audience and customers know that you’re stepping into the real world and can’t wait to meet them in person.
Announce your launch on your website, social media channels, and through email marketing.
Ecommerce brands have the benefit of having an existing database of emails that have shopping behavior and even location data.
With this leverage, the brand can strategically market toward certain local buyers and invite them to the grand opening or even a VIP opening.
This becomes increasingly powerful since breadth is the leverage of being a digital brand, and hyper-localization is the leverage of the physical brand.
But don’t stop there. Here are other ways to make sure potential customers know you’re coming to town:
- Geo-targeted ads. Use location-based advertising to reach nearby shoppers before you open your doors. Facebook and Google Ads let you target specific zip codes.
- Local partnerships. Collaborate with local businesses to promote your launch. For example, if you're launching a pet accessories store, ask local vet clinics to host pet care workshops or pop-up wellness checks. Top it off with exclusive discount coupons to share with their customers.
- Influencer marketing. Engage local influencers or communities to introduce your brand to their audience. Let’s say you’re opening a healthy food market; ask local food bloggers to promote the opening date on their social media beforehand.
A well-planned pre-launch marketing strategy helps ensure a warm welcome to your new store.
25. Optimize your storefront and window displays
You’ve done your best to promote your new store online. Now, it’s time to grab the attention of people walking by, starting with your storefront.
Here’s how to make it impossible to ignore:
- Make it visually enticing. Use eye-catching colors, striking displays, and strategic lighting, but keep them true to your brand identity.
- Tell a story with your window displays. Show, don’t tell is a useful principle to remember here. Your window display should reflect the experience potential customers will have when they step into your store.
- Add intriguing, interactive elements. Examples include a photo booth, mascots (if it fits your brand), or a digital screen that showcases deals and promotions.
- Put your products front and center tastefully. Weave them into your window display narrative seamlessly.
First impressions last. Leave a positive one.
Grand opening day preparations
Business strategist, Mike Kraus suggested that opening your store between September and October, gives you plenty of time to ride the holiday wave.
Whether you pick a date during these months or a different month, here are a few items you should keep in mind in time for the big day.
26. Conduct a soft launch
Planning is good. Practicing is better. A soft opening lets you test your store’s operations before the big day.
What if a product sells out faster than expected? Your card reader malfunctions? Your team struggles with store flow? A display falls apart?
Don’t want to scare you, but these are all possible situations that can derail your grand opening. A soft launch helps you catch these fixes and be prepared.
Keep your guest list small. Invite people you trust, peers in the industry, and local influencers.
Make your dedicated online users happy. Give them first access to the store, some special discount, or even invite them for a special offer.
This initial set of customers can provide you with quality feedback to help you correct any operational issues prior to your grand opening.
27. Perform a final inventory and systems check
Almost there! While your soft launch has prepared you for the worst, you still need to do a final sweep of the most critical parts: POS systems, payment processors, and stocks.
Before you open your doors officially, remember to:
- Restock key items and review inventory levels thoroughly.
- Check if each register and payment method works as it should
- Teach staff to handle common tech hiccups.
Here are a few more reminders:
Ensure your inventory systems are in sync and your bestsellers are stocked up.
Confirm the movement of goods from your online platform to your physical store to avoid any discrepancies between inventory and product availability.
Don’t neglect the importance of your point-of-sale system. You don’t want anything interrupting the checkout process on opening day, so ensure that you thoroughly test all systems and equipment.
28. Plan and execute grand opening promotions
Launch events should be special. Don’t just cut the ribbon and call it a day.
The last item on your retail store opening checklist is all about planning a memorable experience for your first in-store shoppers and guests.
Add promotional activities like:
- Meet-and-greet with local influencers
- Special launch-day deals
- Swag Bags with freebie or branded merch for paying customers
- Invite the local news
When our company held a grand opening after moving to a new location, we advertised the event online and with banners on-site.
We noted that our staff would be giving away promotional items to those in attendance. It really drew people in!
We handed out several different types of customized giveaways such as sunglasses, water bottles, and pens. That was almost 10 years ago, and we still see people in our community using those items.
Talk about long-term branding!
Final Checklist & Next Steps
Whew! That was a long one. But when you're starting out, having a solid guide gives you a huge advantage. It’s a lot of responsibilities to juggle, but you don’t have to figure it all out alone.
Download your “How to Open a Retail Store” checklist here:
If you run an ecommerce company, don’t put your first successful venture on the back burner. Here are some resources you need to read to nurture that side of your business:
- 13 Powerful Ecommerce AI Use Cases to Automate Your Brand Operations (+ Tools)
- 15 Proven Ecommerce Marketing Strategies to Boost Your Sales
- 23 Product Recommendation Email Examples That Drive Sales (& How To Make Your Own)
- 11 Ecommerce KPIs You Need To Track For A Successful Sales Strategy
- The Ultimate Guide to B2B Order Management: Top Strategies & Tools to Keep Everything in Order
