The Hidden Power of Collaboration
Anyone who's ever opened a restaurant, gourmet, fashion, beauty, or any version of a retail shop knows that choosing the perfect spot involves careful consideration of the neighborhood, other businesses, and foot traffic. The goal is to position your concept in an area that quickly attracts attention and generates buzz.
In Old Town, Alexandria, it means setting up near popular cafes like Josephine's French Bistro or alongside other established stores like Blue Mercury to capitalize on existing foot traffic.
I am a longtime restaurateur, but I recently opened a retail shop and learned a few things—retail can be tough.
This being said, do not be afraid to be the queen of the castle, but be smart and listen to those who have walked the walk, whether it be swaggering down King Street wearing your fabulous Shoe Hive kicks when all is going well or skulking the side streets shoving Jeni's ice cream down your face, figuring out how you are going to pay next month's rent.
How you walk depends on you, girl. Here are a few recommendations from a seasoned walker who has done both…
Aside from the space, a good landlord is vital (which I have), a great partner is critical (which I do), and finding another savvy businesswoman to share a space (that may be too large for you, but you know it's perfect, makes all the difference.)
Enter — Madame Coco's Emporium of Chocolate and Little Birdies Children's Boutique on South Saint Asaph. Right off King, the building is historic and housed renowned businesses such as Lilly Pulitzer and Mint Condition. When the space became available, the location was ideal and I knew we needed to give it a go, but it was a bit big for our concept so we had to pivot. Because well, we already signed the lease and we loved the space and well, when life gives you lemons, make a lemon drop cocktail right? LOL. We decided to revamp it into three spaces to create a consortium of women-owned small businesses and it was a vision for multiple reasons:
Sharing a retail space can offer several benefits that help women-owned businesses split the costs of rent, utilities, maintenance, and other expenses, making it more affordable to operate and grow. This may include shared storage areas, equipment, display fixtures etc…but the most valuable is this:
"Hey Shanlee, can you mind my register while I grab a quick bite?"…"Hey Meshe, my parents are in town. Would you mind opening for me?"
By pooling these resources, the one of trust and sharing labor is a stand-alone God send. Additionally, sharing a retail space with other businesses can attract a more extensive customer base due to increased foot traffic. When multiple retailers operate in the same space, they collectively create a more vibrant and diverse shopping environment. "Why yes, I came for boutique baby clothes, but now I can grab Madame Coco's gorgeous gift box of assorted bonbons for Francie's dinner party, too!"
By working together, businesses can create joint marketing initiatives, host events, or offer bundled promotions. Example: Thank You Hooray for Books, an independently owned bookshop that hosts an annual Find Waldo Scavenger hunt. Visit any of the participating locations during July and pick up your Waldo passport. Then start hunting high and low! It's a great way to bring people into the shops.
This collaborative approach helps reduce marketing costs, leverages the collective customer base, and strengthens each business's brand presence. Through the years in business, I've learned that if we help each other, we all thrive.
There’s a delightful sunny space for a pop-up to share-and-share alike at 103 South Saint Asaph. Must love chocolate.
See Also: Street Style: Meet Meshelle Armstrong
