The Games are set to kick off near the start of April, meaning there's little more than a month to go until the streets of the Gold Coast are graced with athletes from around the world.
As the biggest event to happen in Australia since the Sydney Games in 2000, this international sporting competition is expected to bring 6,600 athletes and team officials, 1.5 million spectators and a huge economic impact.
So, how can you ensure your business will be ready to tackle the challenges and opportunities the Games will present?
It's time to ask yourself if demand for your business will rise or fall under the spotlight the Games will place over Queensland businesses.
In preparation for a massive change to the economic climate on the Gold Coast, your business may either need to expand, downsize or simply restrategise. Consider altering your product range, service offerings and business hours to meet the demand of tourists.
If your space is looking outdated or too small, you could miss out on business booms simply due to capacity restrictions. That's why, when opportunity strikes, you can't go wrong by moving to a better suited retail space on the Gold Coast.
As the Gold Coast appears on the global stage, there might be no better time to get your business noticed.
With the Games right around the corner, time is running out to position yourself as a supporter of the Games. Consider how your business can engage with the Games – you might advertise screenings in your hospitality venue, or host sporting competitions to get involved with the community.
Remember, however, that there are strict rules dictating what properties of the Games you can use and in which ways. For example, feel free to use relevant flags in your window dressing, decorate using official celebration packs or use the 'Share the Dream' tag line, but don't produce merchandise or promotional material containing any IP such as logos or names.
If you're running a customer-facing business in one of the Gold Coast's competitive retail spaces, you might be in a position to hire more staff over the Games period. Due to a huge influx of tourists, if your business is located near popular competition venues or accommodation, your revenue could benefit from having extra hands on deck.
While more staff requires greater spending on your part, having well-distributed workload among your employees may improve their job satisfaction during a potentially stressful time. With happier staff, your customers will likely receive better service and will be left with a lasting impression – boosting your business' reputation.
Here at Ray White Commercial Gold Coast, we want to see your business thrive through this exciting time. Get in touch with us today to talk about growing your business with new real estate ventures.