This post is Part 4 of our How To Pop Up Series.
Check out the full series below:
Part 1 – What is a popup store?
Part 2 – 4 reasons why you should consider a popup store
Part 3 – How to find the right space for your popup store
Part 4 – What budget do I need for a popup store?
Part 5 – How to find complementary brands for a popup collaboration
Part 6 – How to promote your popup store
Part 7 – How to create a memorable popup launch event
Part 8 – How to turn popup visitors into loyal customers
What costs should I expect?
We’ve established that a popup store can be a great option for various reasons, but one of the scariest questions must be “What’s it all going to cost?”
Let’s break it down:
Major shopping centres including Westfield are encouraging smaller stall setups in dedicated areas within their centres. With a quick turnaround after enquiry (usually 2 weeks) once a booking is confirmed, you can rent a kiosk-style stall with pricing ranging from $2,000-5,000 per week (if you are supplying your own displays).
Perhaps you’ve had your eye on an event space for a while. And if that’s the case, reach out to the property manager directly to inquire about availability. Tip: Drop by and ask the current tenants for feedback on the location.
You will need to make sure that you’re’ covered by a sufficient insurance policy for your store and any events you might be holding (e.g. launch party or VIP nights). Have a chat to an insurance broker (e.g. our trusted partner Vinny) and check with the property manager whether your lease agreement includes commercial insurance.
2. The fit-out
Perhaps your space already comes with a basic fit-out, or you have a lot of things at home that you can use.
You might decide to hire everything you need, search Gumtree or make a trip to IKEA.