One of the main draws of doing business nowadays is that there are infinitely more options than what we used to have before. Today, we take a look at the benefits of either having a physical store or an online store.
This is a very important discussion to have as it can definitely help shape the path of your startup or business:
Physical stores have always had their appeals. Here are a few pros:
When a business has a brick and mortar location, they are infinitely more legitimate in consumer’s eyes. If a business or brand is willing to set up a physical location, this means that they are really trying to break into the market.
Visibility of Product/Service
When it comes to seeing how real your product or your service is, having a physical store is great. This way, interested patrons can just walk in and ask a ton of questions. Depending on how well you or your staff answers those questions, you have the opportunity to grow brand loyalty and your client base.
With avenues like Etsy and Instagram, there are a lot of benefits to choosing an online store rather than a physical one:
Lower Overhead Costs
When you don’t have to worry about paying rent, utilities, and staff you only ever have to worry about shipping and the sort of posts you create on your selling profiles. This can free up your funds a bit further for other things.
When you run your business online, this leaves you a lot of freedom for where you spend your time. You can even travel if you wanted to. This is one of the biggest draws of having an online business.
These are just a few benefits to having either a physical or an online store that I’ve come across. What benefits have you seen with your own eyes?