Many small businesses have been struggling in the past year. As a result of this, if you have your own small business, you’ve likely been looking at any and all ways that you can keep your business afloat and make more money while your doors are open. Luckily, with a little creativity, this is something that can absolutely be done.
To show you how here are three interesting ways to make more money at your brick-and-mortar business.
Provide More In-Store Services
If you can’t offer anything more from your present business line, you may want to look into what your options are for providing more in-store service, whether they’re directly related to your business or not.
According to the Young Entrepreneurs Council and Small Business Trends, adding things that are related to your business and offer a service that people would otherwise have to visit a separate location for, like a tailor at a clothing store, could be a great way to get more people into your business and spending more time and money while they’re there. Additionally, you could also consider bringing in something like an ATM machine so that you can collect all the surcharges when people use the machine in your store.
Do Strategic Cross-Selling
The way that you train your employees in addition to how you have your store set up can also have a big impact on how much money people spend in your store.
Ideally, RetailDoc.com shares that you should try to maximize your sales by doing strategic upselling and cross-selling. Train your employees to notice if someone is looking at a less expensive model of something and then bringing up the better, more expensive model as another option. And to encourage people to add more to their purchases, make cross-selling easier by keeping like items together all around your store.
Let Customers Know You Need Their Business
While this might seem counterintuitive to some, Eugenie Bisulco, a contributor to Forbes Communication Council, shares that you may be able to make more money in your store if you highlight that your business has been struggling.
While you don’t want to necessarily play the victim, appear desperate, or make it seem like your business is literally on its last legs, sharing with your customers that their purchases really make a difference in keeping your doors open can encourage them to be a little freer with their money. And since all consumers want to feel like their money is making a positive impact on small businesses, taking advantage of this could be a big win for your business.
If you’re needing to find some ways to make more money within your store, consider using the tips mentioned above to help you do that.