3 Tips For A Successful Grand Opening Of A New Business

Getting your new business up and running can be an exciting yet stressful time. Especially if you’re opening a brick and mortar store that you’ll be having a big event for, it’s vital that you’re able to use your time and resources wisely in order to put your best foot forward to the public.

To help you learn how this can be done, here are three tips for a successful grand opening of a new business. 

Set A Budget and Stick To It

While starting your business is going to require funding, it’s important that you don’t forget to allocate some money to your grand opening events as well. 

When creating this budget, try to make it separate from the overall budget you have for your business. For example, try not to include the funds you’re spending on getting the air conditioner serviced as part of your grand opening budget, even though you’ll be using the a/c during the event. 

Depending on how much money you have and what type of business you’re opening, your budget for your grand opening will vary. However, Nicky LaMarco, a contributor to Chron Small Business, recommends that you don’t spend more than 20 percent of your overall marketing budget on this single event. 

Get The Word Out

Part of what you’ll be spending your budgeted money on is the marketing for your event. In order to have a successful grand opening, you have to have people there to experience it. And since you’re a brand new business, or at least a brand new business location, you’ve got to pull out all the stops to get the word out about your business.

To help with this, Marc Prosser, a contributor to FitSmallBusiness.com, recommends that you reach out to people on social media, talk to people in your local press, put up signs and posters around your area, take out radio ads, and marketing online to reach the maximum amount of people prior to your grand opening. While this can be a lot of work and take a decent amount of money, it could be well worth it for you if your grand opening is a hit. 

Consider A Soft Opening Beforehand

The day of your grand opening can bring a lot of pressure. To reduce some of this pressure, Marc Prosser, a contributor to AllBusiness.com, shares that you might want to consider a soft opening before your official grand opening. 

At a soft opening, you’ll be able to have a smaller amount of people there while still being able to see how your business would function in real-time. This can give you the opportunity to spot any issues before you allow the general public into your location. 

If you’re going to be having a grand opening for your business soon, consider using the tips mentioned above to help ensure that this event is a success.