Avoid These Common Mistakes When Running Your Store
Make Money and Play With LEGO® Toys All Day!
The retail scene is increasingly becoming competitive, especially with the surge in online sales. To stay afloat, stores need to offer excellent in-store experience and customer service to remain in the game.
Therefore, it is no surprise that even the smallest of mistakes can cause setbacks for store owners. If you’re opening your own Bricks & Minifigs franchise or you’ve been in the game for a while, we’ve outlined some common mistakes you should avoid.
Not Identifying Your Target Customer
The target customer or audience is at the core of your business concept. Not understanding your target customers could be the biggest mistake that you make as a franchise owner. As an owner, you should be considering the lifestyle of your audience and how that correlates with your inventory. From there, you can start to build a stronger relationship with your target customer and learn how to meet their needs directly! Luckily, opening a Bricks & Minifigs franchise means your target customer is within a wide net. Ranging from toddlers to adults, and appealing to all genders, you’ll be able to find many creative ways to market to your customer base.
Choosing the Wrong Location
The location of your store can have a significant impact on your sales. When you’re choosing the location for your store, you’ll want to first consider your target customer. You’ll want to choose a location that is accessible and easy to find. You need to consider everything from parking and street access to visibility, as all can have an effect on your ability to reach your target customers.
Misunderstanding Your Competition
As important as it is to know who your target customer is, you need to know who your competition is as well. With extensive knowledge of your competition such as their specific products and services, you can find opportunities for growth within your own business, whether that’s going after their market, or finding other customers to reach. Large retail chains may seem like the first choice for shoppers looking for LEGO® sets, but remember that you have a specific edge as a Bricks & Minifigs owner because you have a wider collection and a passion that offers more than products on a shelf.
Neglecting Your Community
As a Bricks & Minifigs franchise owner, you have the opportunity to build a relationship with your community through your business. Whether you’re donating your time, products, or financially, you can raise awareness with people within your community. Franchise owners who neglect giving back or connecting with their communities miss out on the valuable relationships that can contribute to their franchise’s success.While it seems like there’s a lot that can go wrong, with Bricks & Minifigs, you can achieve your dreams of opening your own franchise. We offer you the support and training that you need to find success and share your passion for all things LEGO®!
