Do you run a small business, or have dreams to start one? Each week on The Tidbit, brought to you by Cureate, we discuss tidbits of knowledge around starting and running a small business with a food and beverage lens. Show host Kim Bryden sits down with guest experts and shares trending new topics on food, business and culture to help best prepare you for your business journey.
On this Minisode: what are parts of the process to consider when deciding if a "pop-up" concept is worth it for your business?
EPISODE 19: ARE POP-UPS WORTH IT?
A few show notes
Are Pop-Ups Worth It blog post with a FLOW CHART
First: You need to determine your objective. Oftentimes when I am setting a goal, I need to envision -- what does a successful outcome look like. This helps in framing what it is I am ultimately going to achieve.
#PROTIP: In order to avoid a sticky situation, make sure all stakeholders involved are on the same page. Don’t be afraid to write a MOU - memorandum of understanding - for all parties to sign. You need to make sure your IP - intellectual property - is covered AND that you are paid for your labor/ingredients/products if you are no the one collecting the money on-site.
Second: Who is your target audience? Have you thought about who your early adopter is of your product? Do they work around or live near the location where you are popping-up? If not, how will they get there? When thinking about your early adopter, I also often call this a Buyer Persona or Buyer Profile. Who is this person?
Third: Have you thought through the user experience? I don’t mean just menu concept and purchasing ingredients either. What is the ambiance? When people arrive, are they greeted with a certain product, a smile, a secret clue? What is the entire user experience of the operation.
The last and very important piece is - what is your call-to-action? What do you want people to do once they’ve had this experience? Do you want them to sign-up for a listserv to stay up to date with future events? Do you want them to tag photos with a particular hashtag? Do you have a secret code to give out to guests to provide to their friends so the word-of-mouth keeps spreading? Make this call-to-action UNIQUE to your experience.
So to recap: Define your objective, Identify your target audience, Think through the user experience, and Develop a call-to-action
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