Financial Resource

A grand opening is a very exciting time.  Those who are involved in the new business can’t wait to get started and show off their hard work.  And if they have and do advertise correctly, their community will be as excited as they are for their First Day.  But how can that be done?  Advertising requires money and money requires revenue, and since our business isn’t open yet, you’re likely on a shoe-string budget.  And with the current tough economy, starting a business can feel even more risky than in years past.  The bottom line is that you cannot start your business without a grand opening party, and to do so on a reasonable budget, you need a plan!

Overall, a grand opening celebration is planned with two over-arching goals in mind: A grand opening increases your product awareness in the community, which in turn and in time will bolster traffic to your new business and reach a higher number of potential customers.  Both these things start the brand building process that is so vital for companies to thrive.

1. How to Increase Product Awareness in Your Community
Product awareness simply means getting your product in front of as many people as possible.  Conversions are simply a matter of numbers: the more people who see your product, the higher number of conversions possible.  There are very few consumers who will turn down a higher quality item, or a more assessable item.  But in order for your potential customers to take advantage of your higher quality services, products, cheaper prices, or more convenience, they first need to know about it.  In order to do this effectively, the name, logo, location, and details of your coming business need to be everywhere around town.  All this advertising should be done in an exciting, inviting way.  That might mean offering very good coupons, teaming up with neighboring business, and taking advantage of all free advertising opportunities being active in your community.

2. The Rewards: A Healthy, Successful New Business
Grand openings and all the hype surrounding them are so important because it is a time everyone is expecting, watching, and waiting to hear about what your business is and what people think.  Think of your all the energy that goes into a grand opening celebration as the beginning of a wave.  Your first day as a new business is the breaking point, crest, of that wave, and how powerful and far that waves goes provides the momentum, health, and success of the future of your business.  Converting one customer successfully can translate into a whole family, and then community.  Working the success of the initial conversion, seeing it as a pebble being dropped into water.  The ripples that go out reaching far.  But if you can drop numerous pebbles into the same body of water, their ripples try to go out in concentric circles, but in actuality they just end up crashing into each other.  What a great marketing problem to have!  One great way to start this process is to have a “sneak preview” before your official grand opening party.  Have this be a more intimate, elite, elegant affair that will have those who are not officially invited jealous that they weren’t.

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