Aspiring UK retailers have the chance to set up shop for the first time this year, thanks to a unique programme and new contest from global wholesale marketplace Faire which has helped 500 independent retailers open stores across the country since 2022.
Faire – which connects hundreds of thousands of independent retailers with 100,000 independent brands across the world – is planning to expand its Open with Faire programme in the UK over the next 12 months.
More than a third of Britons (38%) told Faire that they dream of running their own shop, but a lack of financial support and a fear of failure were the biggest barriers to making that dream a reality. In response, Faire is launching its first UK contest to help two aspiring retailers open their dream store.
The winners will be awarded £5,000 to spend towards inventory on Faire, to stock their stores ahead of opening day. After completing an application, a shortlist of five retailers will be selected by judges: Rebecca Morter, founder and ceo at Lone Design Club; Andrew Goodacre, ceo at British Independent Retailers Association (BIRA); Wilfred Emmanuel Jones MBE; and Charlotte Broadbent, Faire’s country lead for the UK.
Each finalist will be featured on Faire’s Instagram account, to over 750,000 followers. Every like they receive on their feature post will count as a vote, and the two retailers with the highest number of votes will win (£)5,000 in inventory funds.
Designed to bolster the growth of the independent retail community and make opening a retail business easier than ever before, Open With Faire offers new shop owners up to £20,000 in credit to stock their shelves ahead of opening day, with no added interest or fees and net 60-day payment terms.
“We are all about levelling the playing field for customers and making opening a retail business as seamless as possible,” commented Ami Vora, chief product officer at Faire. “Open with Faire is an extension of our core business model and by providing access to the inventory our customers need to get started, we’re not just offering financial support, we’re investing in the dreams and ambitions of future business owners.”
You can find out more about Open with Faire by clicking here.
