BUSINESS: Setting up a new venture: Part 2 - Preparation / Organisation / Management

Today, in Part 2 of her mini-series of articles on setting up a new venture, Carla De Azevedo who started her own handmade accessories brand "Maus Haus" last year and is now established across Yorkshire and Lancashire with an independent boutique in Leeds called Nouveau Leeds, tackles branding, marketing, stocking and shop layout! Over to Carla..........

Last time I started discussing setting up a new venture from my personal point of view after experiencing setting up my own shop, Nouveau Leeds.

In this article I want to talk about how I tackled:

• Branding;
• Creating a buzz before opening the shop;
• Stocking the shop; and
• Planning the layout of the shop Branding.

Branding: Once I had secured a shop unit I needed to approach people about stocking at the shop and let the general public know I was opening. None of this could be done without branding. Branding lets people know what to expect from your shop, so everything from the name, the décor and the choice of typeface used should flow effortlessly. Set parameters and stick to them.

For me, branding started with choosing a name and a basic logo so that I could talk to people about the shop. As I selected stock and designed the layout of the shop, I was able to finalise it.

I found picking a name particularly challenging. I wanted a name with meaning and originality that was easy to pronounce, spell and wouldn’t alienate people. I can’t say “Nouveau” ticks all those boxes, but in the end I decided it was the items I stock and the customer service that would really bring the name to life.

Creating a buzz prior to launch: Once your branding has started taking shape you can start letting people know about your shop. Try putting posters up outside the shop unit and building a strong on-line presence; as soon as I had chosen the name of the shop I created a Facebook page, Twitter account, e-mail, blog and website. I regularly documented my progress online to generate interest.

Stocking the shop: This was definitely the most fun part of the process! Somehow even when I had the keys to the shop unit it didn’t seem real, but when the first of the stock arrived, I started getting excited.

There are three common ways of stocking your shop:

• wholesale;
• sale or return; and
• sub-letting.

Sub-letting would need to be cleared with the landlord. For wholesale, items are bought in bulk at a discounted price and then have a mark-up before being sold. With sale or return, suppliers are paid as items are sold, which is a more accessible way of stocking a shop for a new start – up business. This can benefit the supplier, as the mark-up is usually smaller on sale or return goods meaning the supplier keeps more of the money. Keep in mind that with sale or return you need to be reliable when paying people and keep track of stock and sales - even my small shop has over 30 designers to co-ordinate.

Planning the layout of your shop: The shop layout can be ‘make or break’. Like curating stock, this was another exciting stage. I began by drawing a diagram of the shop floor, marking the width and length of the room plus any power points, radiators and windows. This allowed me to shop for display units easily and try different layouts.

I decided on very neutral fixtures so that all attention is on the items being exhibited. I selected display options that would also allow surplus stock to be stored discreetly, as I am in the unusual position of not having a stock room. Another difficulty was transporting the display units. As a non-driver all furniture had to be crammed into a small taxi or on the bus; not something I would recommend.

The second part to planning the layout had to be put on hold until opening. After a couple of weeks I had monitored customers browsing habits to help me re-organise displays. I regularly rotated stock to see how it affected sales of different items and then placed best sellers in the most prominent areas. A strong window display was worth its weight in gold.

That covers planning and management but in part 3, I will get to the good part, the finishing touches and the launch. See you then!