As a retailer interested in expanding your business channel, opening an airport store has become an attractive opportunity to reach more customers. However, there are challenges and obstacles you need to be ready for. Running a shop in an airport environment is often different from running a regular convenience store.
Before starting an airport shop, it’s important to be knowledgeable about the airport environment and various standards required to be met by shops in the area. Many airports in the United States design their minimum standards to meet with the Federal Aviation Administration. This is to ensure that all businesses in the airport location receive fair and equal treatment.
Performing research and making inquiries about the market and competitors are important steps to begin with.
Here are some important information you need to know before opening a shop in an airport location:
Ownership: Most major airports in the United States are operated and funded by the government. Therefore, retail stores in these airport locations must conform to certain standards, security regulations, and certain requirements. Stores are made available to retailers through lease.
Location: The location of an airport gift shop is very important in attracting customers. Ensure that your retail shop is located in a visible area where customers can easily access it. Many retail shops are typically located near the airport terminal which is usually very busy with travelers or around airport checkpoints.
These areas are flooded with travelers, who are may be interested in purchasing your product. Therefore, before setting up your gift shop, location is, indeed, key!
Be prepared: Airport stores are owned by the U.S. government and are provided to retail traders on lease upon agreement and signing of a contract. However, there are other stakeholders such as, large corporations involved in the running of these retail spaces.
Most times the U.S government leases large spaces in the airport locations to these corporations who in turn sub-lease these spaces to retail traders. In an occurrence when a stakeholder is faced with a challenge in the course of its lease, this may require retail traders to relocate from their initial space.
Knowledge of Appropriate Procedures: Airport location has strict security procedures retail store owners must strictly adhere to in the course of product supply and sales. Any retailer interested in running an airport shop must be well acquainted with security regulations governing the airport setting and how they affect product purchase and sales.
Business structure: The airport environment offers lots of opportunities for growth. Businesses structure their operations and strategies to effectively harness these opportunities. Introducing new products that meet consumer demands and are likely to do well in the airport setting are steps important in achieving success.