Why Rushing into a Physical Store Might Not Be the Best Move

Starting a business is exciting, but deciding whether to get a physical store can be tricky. Many entrepreneurs jump into buying or renting a space too soon. However, experts say it's better to focus on growing your online presence first.

Expert Advice

Ryan Serhant, a well-known real estate expert, shared his thoughts on this. He believes that most small businesses make a mistake by rushing into physical locations before they are ready. Instead, he advises focusing on your digital storefront. This way, you can reach more customers and test the market without the high costs of a physical store.

The Numbers Don't Lie

The numbers back this up. Online sales are growing fast. By 2025, e-commerce sales are expected to hit $6.8 trillion globally. This means almost one in every five dollars spent by consumers is online. So, having a strong online presence can be a smart move for any business.

Why Businesses Want a Physical Store

Serhant also talked about why businesses want a physical store. He mentioned three main reasons:

• Storing inventory
• Meeting customers
• Branding

Out of these, branding is the only reason that justifies the high cost of rent. If you want a storefront for advertising, it should be seen as an investment that pays off.

Before Taking the Leap

Before taking the leap into a physical store, think about your goals. Is it really necessary, or can you achieve the same results online? Sometimes, waiting and focusing on your digital presence can be the better choice.