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The 7 key elements of a strong retail or commercial fit out
The 7 key elements of a strong retail or commercial fit out
By Natalie Alexander-Stivala on June 9, 2010
Are you thinking about franchising your idea or business? Have you thought about how to create a marketable concept & get it market ready? If not, you will need to develop a strong strategy to present as the benchmark of your brand. To create this you should consult with a team of specialists, who can incorporate your branding strategy, present a marketable product to potential franchisees and provide documentation to roll out the concepts across various locations.
To be recognised as a serious industry player, a strong concept design is now more about the experience for a customer than just about the product/service. Employing deliberate strategies of effective design and customer experience within space - you only get one chance to make a lasting impression so make it count!
There are numerous elements to consider and implement to get a concept store/fit out completed but the key elements include:
1. Location - 'Position, Position, Position'. The real estate position is one of the most important elements as customers wont buy your products if they can't find it or see you. This step forms the basis on how hard you will need to work in order to attract customers to your doof as well as how much you will need to spend to maintain that position and/or privilege.
2. Competition - Research your competitors and review what they are doing very well as well as what they are doing poorly - if you want to be a successful player within your industry then you need to exceed customer expectations as well as provide a point of difference to your brand (give them a defined reason to buy from you over a brand they have a history with).
3. Brand Identity / Strategy - Ensure the elements of your branding are clear, concise and represent your core business values. They should also attract your target market & strongly align or exceed your customer's expectations.
4. Store / Space planning - Ensure you use a retail/commercial design professional so that all of your needs and requirements are incorporated into a master concept plan and are reflective of your brand identity. All plans/drawings should demonstrate a clear traffic flow with strong emphasis on merchandise direction, provide clea divisions (ie. Males vs. Female areas), effective lighting solutions, fixtures & fittings, allocation of back of house needs (ie. Storage solutions / staff meeting space / wet areas) & most importantly provide a strong customer experience - these plans should take customers on a journey through your store/space and entice them to discover what lies ahead and have them wanted to come back for more.
5. Facade / Signage - The entry experience should give the customer a strong sense of what lies within the store & should be an invitation to check out the merchandise, this is achieved through strong signage/branding presence, window displays and clear point of entry.
6. Fit out - Employ a professional company to execute the fit out/construction of your space according to the design documentation/specifications (do not cut corners here by using 'mates' to save money as you will probably end up paying more for it to get refitted). Use people that are aware of the local building codes/regulations as well as adhering to the tenancy guidelines set out by the council/shopping centre/property developer to ensure all details are not missed.
7. Merchandise - Ensure your product placement is obvious to your target market. Place your 'hottest' items within the entry so that they are the first thing customers see and invite them to enter the space and investigate what your concept is about and what you have to offer them. The use of visual merchandising solutions to create a strong focal point as well as strong Point of Sales displays for your product, will ensure your merchandise is looking its best and is ready for sale.
With these key elements completed, you are ready to trade - 'Open for Business'. It is here that you can review the performance of the concept/fit out i.e. What is working, any defects outstanding, is the space giving you a return on your investment, are you over budget, can you value engineer any displays to be more cost efficient? Once evaluated, you will need to create a set of 'Standards' and 'Fit-Out Guide' to complete the Master set of plans (prototype) - this allows you to roll out the design concept into various different property types/sizes and maintain your brand integrity.
There are many other aspects to consider when committing to getting your concept market ready i.e. Budgeting, finance, legal advice, but if the key elements are exceeding customer expectations, then you will definitely see a return on your investment and increased growth.