People who often visit one country to another would not miss the chance of purchasing souvenirs that they can use as mementos of their travels. They would buy a t-shirt, hats, snow globe, home decorations, or keychain featuring an engraved or printed name of the place. Hence, if you are living in a town considered as an ultimate tourist spot and you have been planning to start your own business, opening a souvenir shop is a great idea because it has high sales potential. Follow the 5 ways listed below on how you can start your local souvenir shop and pave its way to success.
1. Prepare the necessary documents
To be safe from any legal consequences, you have to make sure that you will operate legally. The first thing you have to do is to prepare the necessary documents needed to start your retail store. If you are not yet aware of what they are and how you can obtain them, contact your town’s small business development center. Some of the documents you have to prepare are the resale permit, sales tax permit, and identification number.
2. Buy or lease a space
After you prepare the documents as requested by the government, now is the time to buy or lease a space. You must put up your souvenir shop in an area where tourists usually visit. Consider placing it in a famous landmark, shopping mall or center, amusement park, or museum. Aside from that, you can also build it in a campsite, national parks, or zoos.
3. Purchase wholesale souvenir items
After ensuring a place to build your souvenir shop, you now have to purchase wholesale souvenir items like postcards, home decorations, t-shirts, key chains, cups, trinkets, and candles. Make sure that they will greatly represent and reflect the culture and values of the area you are in.
4. Authentic home decorations
To have a shop with an authentic look, you have to incorporate appropriate home decorations. These home decorations can be in the form of artworks made by your local artisans or handmade cushions and functional luxury furniture to create a welcoming, cheerful, and comfortable souvenir shop that can set you apart from other retail stores. This is when you decide the types of decors you will be using when decoration your space. If you want to achieve a look that would feel authentic and luxurious then I would suggest that you consider furniture that are custom made by local upholsters in United Kingdom. In this way, you won’t need to worry about having the same decorations with other shops around the area. This won’t only make your space feel more authentic but also unique. A huge customer getter!
5. Feature items made locally
Since tourists want to own something that can remind them of the place they visited, you have to feature items in your shop that are made locally. For instance, it is best to offer food items that are unique in the place so that you can encourage more tourists to buy from you. Aside from that, sell merchandise that your local artists made to showcase their creativity and craftsmanship. If you don’t have much knowledge about locally made products, you should visit online shops and marketplaces. You should also conduct your own research and visit local crafts fairs to widen your knowledge.
6. Aesthetic Home Decorations
A lot of tourists consider first the aesthetic of the store before entering. Hence, you must make yours visually appealing by adding several home decorations. You may add signage with creative lettering and bright colors. Aside from that, you might want to paint the wall with trending color schemes today. If you don’t know what home decorations to add to your shop, you might want to visit Pinterest and other social media platforms for inspiration. Just make sure that your furniture items, home decorations, and products complement one another.
7. Advertise your souvenir shop
One of the many ways to have high sales is by implementing aggressive marketing strategies. You should advertise your business online to have a larger audience. Even if your target market is tourists who always engage in impulsive buying, it does not mean that you can’t create a customer base with the locals. Some locals might be looking for home decorations that they can give to their friends and relatives as gifts. You may start advertising your business online by creating a website, an e-commerce store, or social media accounts.
In a Nutshell
The process of building your own souvenir shop might look exhausting but fulfilling once you see the end product. There is always investments when it comes to starting a business. If you ever feel that the tips and steps here are too pricey for you, you can always opt other decors that provides the same aesthetic and feel in a more affordable price point. Follow the ways listed above to have your business that can provide a continuous source of income!