The transition from businesses going from being the brick-and-mortar type that sells products and services in person to the location independent type that sells products and services online cannot be denied. It is happening in front of our eyes and will not stop.
However, this does not mean that brick-and-mortar businesses are suddenly becoming irrelevant. If you take a drive down any given street in any given city, you’ll still see business establishments everywhere.
These establishments are not going to just magically disappear, and they are still relevant even in this day and age where it is possible for almost anybody to start a business.
What is meant by a brick-and-mortar business?
Although the term seems direct enough, there are many definitions for the term “brick-and-mortar.”
When most people think of the term, they usually think of a small shop along a city’s streets, as mentioned earlier.
While this is an accurate depiction, it is not a perfect depiction, as many other locations can also qualify as a brick-and-mortar business.
Any physical building can qualify as a brick-and-mortar business, including homes and office buildings. In fact, if you look back through history, a strong majority of business owners operated right out of their homes.
This is why these kinds of businesses are still relevant. No matter what kind of products or services you are selling, they need to come from somewhere. There are very few expectations to this.
If you are doing business from a physical location, It is a good idea to treat this location as if it was an establishment that you own.
Common types of brick-and-mortar businesses
So far, we have covered what entails a brick-and-mortar business. Now, we’ll go over the most common types of these, how they should be maintained, what can be done to lower operation costs, and how they can be promoted.
The most common type of establishment by far is a store or a shop. Like any other building, this needs to be purchased or rented. A mistake that new business owners make is that they take out loans to pay for the building, not planning out what their average revenue is.
This is one of the biggest reasons why many businesses fail within their first year of operation. The risk of renting a building and setting up a business there is often not calculated.
Some other business owners decide to operate from an office building. This is the second most common form of brick-and-mortar business, and is usually used for those who sell services.
While it was not common for businesses to operate out of their homes, this is slowly becoming making a comeback as more and more people would rather use their own rent or mortgage from their homes as operation costs.
Lowering the cost of operation in all three of these cases is not easy, but it is possible. One way is to only be open on certain hours of certain days. This may be difficult to do if your business is in a busy or crowded location, but it is necessary if your business is struggling to cover its operating costs.
This is an even greater temptation if you are operating your business out of your home. Just because you are doing this does not mean your business needs to be open all the time.
As far as promotion and branding for your brick-and-mortar business, neon signs depot are still the tried and true method to make sure people can see exactly where your business is. We are visual creatures, and even if they hang out of your home or office building, neon signs will let any potential customer know that your business is open.
In this world where more and more business is being conducted online, it is easy to overlook the fact that businesses that operate directly out of a home, office building, or store still exist and are still relevant. They will continue to be relevant for a long time.