In the modern day and age, many people are opting to form online only stores. Others are stubbornly holding out on the basis that having a brick and mortar store is necessary. Which of the two ways of thinking is correct? Well, it really all depends on you, your company, and what your personal preferences are. Let’s take a look at some of the reasons people may not need a brick and mortar store. Then we will take a look at some reasons people may actually need one.
Reasons To Not Get A Brick & Mortar Store
- Higher overhead because of rent and utilities
- Unable to find a good spot to place your store
- No real business for your product in your general location
- Unable to offer the privacy that online stores are able to
- Need for additional employees, which can end up costing you quite a bit
These, of course, are not the only downsides to getting a brick and mortar store. The biggest one is, of course, the cost. You have to pay for rent or a mortgage on your building, plus utilities. There are more employees which will ultimately need to be hired. This is one of the reasons why so many people are opting for online only stores. Yet just as there are cons to getting a brick and mortar store, there are also many pros.
Reasons You Need A Brick & Mortar Store
- Better shopping experience for customers because they can touch, feel, try on, and test out your products in person
- Better communication and interaction with your customers
- More opportunities to advertise
- There are still some people who do not use the internet, or who at least don’t shop online, and a brick and mortar store will open your company up to them
- A more unified employee front as they will all be working together in person
As you can see, there are plenty of good reasons to still have a brick and mortar store for your business. In the end it all comes down to your personal preferences and what your company is all about. When deciding which situation applies to you, try thinking about the following questions.
Questions To Ask Yourself
- What products or services does your company sell? Is it something customers would prefer to see in person prior to purchasing? These types of products include clothing, dishware, food items, shoes, etc.
- Will your customers prefer the more private setting of an online store to purchase what you are selling? This may apply if you sell intimate products or apparel.
- Will you be able to offer your customers a significantly cheaper price if you sell solely online?
- Do you have enough business to sustain a brick and mortar store? If the answer to this question is no, it may not rule out a physical store completely. It may simply mean you need to wait a while until you have enough business.
- Do you have enough time and energy to maintain a physical storefront? If you do not have the time and energy personally, this can be made up by manpower. This, however, takes extra funds.
Asking yourself the above questions, after taking a good look at the pros and cons of having a brick and mortar storefront, should have helped you to make your decision. Physical stores are not necessarily going out of style, but there are many situations in which one is no longer needed. The decision will ultimately have to be made by you.