Small businesses play a crucial role in stimulating the economy. They also act as the backbone of a community by offering a convenient and accessible source for essentials and services for both locals and visitors. Aside from providing products and services to customers, these humble enterprises can also provide jobs.
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Are you planning to put up a small business in your neighborhood? Starting a business is a significant financial commitment, so you should carefully consider your priorities. Here are some of the most important things that you should put your money into first as you prepare to embark on this rewarding endeavor.
Things A Business Should Invest In First – Comfort and Ambiance
Making your business space comfortable and inviting is key to attracting and retaining customers. By focusing on ambiance, you'll create an atmosphere that encourages people to stay longer and enjoy their experience. Here are some essentials that a business should invest in first:
- Comfortable Seating – Provide chairs or benches where customers can relax. This will help encourage people to stay longer to try your products or services, or ensure their comfort while waiting for their turn to be accommodated.
- Adequate Lighting – Install lighting fixtures that enhance the space's warmth and appeal and make your products more eye-catching. Be sure to add adequate illumination to spaces like bathrooms and stairways.
- Decorative Touches – Add wall art, plants, or other decorations to reflect the character of your business and help build the right ambiance for your clients.
- Temperature Control – You can buy window-type aircon online to keep your customers cool as they spend time in your establishment. It’s also an option to buy fans and exhaust fans as needed to ensure proper air flow.
- Background Music – Set up a speaker system for soothing background music. This will contribute to the mood that you are trying to create in your brick-and-mortar location.
- Cozy Flooring – Consider using rugs or carpets to make the space feel more welcoming.
There are, of course, businesses that need to invest in purchasing more appliances and furniture to sustain their operations. For instance, people who are putting up spas and salons will need specific items like massage beds and salon chairs so that they can properly provide their services. In short, it’s best to determine the kind of business that you want to run first before putting money on furnishings.
Things A Business Should Invest In First – Product Display Organisers
Showcasing your products in an organized and appealing manner is vital for attracting attention and boosting sales. This is especially important if you’re planning to open a sari-sari store, carinderia, or a food stall. You should invest in the following tools to create an eye-catching display that will lead customers to your doorsteps.
- Display Shelves or Racks – These pieces of furniture will enable you to arrange your products attractively for easy browsing. You can place certain items in more prominent positions to encourage customers to choose these products.
- Tables and Counters – Use these to highlight featured items or create thematic displays. If your business is a dining establishment, tables and counters are even more crucial to provide dining areas for your customers.
- Mirrors – If you’re selling accessories or clothes, or if you offer services that affect the appearance of your customers (e.g., a hair salon), you need mirrors so your customers can look at themselves.
- Branding and Signage – Clearly display your business name and logo outside your space to introduce your business to customers and let them know where they can find you.
Again, depending on the specifics of your business, it's an option to add other types of tools and equipment to your space. For instance, you might need hooks, hangers, and mannequins if you’re planning to sell clothes or accessories.
Aside from physically displaying your goods, you can also give digital marketing a try and put up an ecommerce website. This will instantly enable more people to see what your business has to offer without them having to visit your physical shop.
Efficient Transaction and Management Station
A well-organized transaction area ensures smooth operations and professional customer service. No matter if you’re putting up a sari-sari store, laundry shop, salon, or bakery, you’ll need such a space in your physical store. Equip your business with the right tools for processing transactions by purchasing the following.
- POS System – A point of sale system is one of the important things a business should invest in first. A POS system will enable you to process transactions efficiently, track your sales, and manage your inventory. You can start with a simple cash box and then slowly work towards a more advanced cash register as your business grows.
- Storage Solutions and Cabinets – These are specifically for storing and organizing essential items and supplies that are not meant to be seen or used by your customers, such as record books and receipts.
- Charging Station – This is a dedicated space where you can charge your devices, or you can also offer your customers the chance to keep their devices’ batteries topped up while they wait.
- Security Measures – Depending on the type of business, you might want to consider installing security cameras or alarms for your and your customers’ peace of mind.
Things that a business should invest in first are products that will help keep your business clean and presentable to your customers. These include cleaning materials like rugs and brooms, hand soap, tissue, and other supplies.
Types of Small Businesses That Can Be Commonly Found in Filipino Neighborhoods
Filipino neighborhoods are characterized by a tapestry of essential small businesses that cater directly to the needs of the community. At the heart of these neighborhoods, you'll find the sari-sari store, a humble convenience haven offering an assortment of daily necessities.
Meanwhile, carinderias are bustling hubs of culinary delight, serving mouthwatering home-cooked dishes at affordable prices. In addition to these, it’s also not out of the ordinary for many neighborhoods in the Philippines to have their own bakeries, food stalls and restaurants, laundry shops, salons and barbershops, and even computer shops.
The contributions of these small businesses to the hyperlocal economy are quite significant, as the circulation of money within the community bolsters growth and sustains a self-sufficient ecosystem. In a globalized world, these establishments stand as vibrant testaments to the charm of community-centered commerce and the positive impact it has on neighborhoods and their inhabitants.
