Real estate is expensive and you’re lucky to have snagged a plot of land or commercial space. No matter how small it is, you did not buy or rent a useless property. With the right business idea, the small space is all you need to rake in profits. Here are some options for you to consider:
Carry-Out Stores
You don’t need a big location to serve customers a good and filling meal. Operation costs will also be lower if you stick to offering carry-out items. They go to your store to place an order and they come home with bags of goods to eat at their own dining table (or in front of the TV, if we’re being honest).
You’ll want to start looking at how to start a pizza franchise to offer this crowd favorite, which can be ready in minutes and accommodate an entire family. Other options include milk tea bars and candy shops that do not require extensive cooking processes to complete an order.
Online Shopping Drop-off Point
It makes sense that you want to focus efforts on an online shop, as it’s accessible to more people from different places. Those from a different state or country can make the most of delivery services to get the products they purchased. For local residents who don’t want to wait indefinitely for their purchase through a courier system, you can use your small space to be a drop-off point. Save time and effort by doing it on a set schedule.
Orders that came in the day before may be ready today or at the end of the week, depending on your availability. You can also use the store to send more traffic to your online shop through pop-up events and limited edition items. If you’re selling clothes, convert the space into a showroom or fitting room so customers can try the items before purchasing. Then, direct them to the website to finish their transaction to eliminate the hassle of you holding on to their payments, especially if you have no security in place.
Goods Exchange Center
Not all businesses provide goods in exchange for money. Many have realized that one way to get rid of items they don’t use anymore is to exchange them with other items. If you’re transacting with individuals to exchange goods that will benefit both parties, and if you do it quite often, you’ll want to have a set location for it.
That small space you thought would be useless can save you the cost of having to order an overpriced drink at your local coffee shop just to secure a meeting place. The place can also be used for alteration services. For instance, if you offer handbag repairs or dress alterations, it can be where customers drop off their garments and pick them up once you’re done.
As long as there are people willing to make transactions, there’s use for even the smallest space. Don’t let go of that piece of real estate without trying to turn it into something useful.