Four Tips When Shopping For the Perfect Retail Space

October 15, 2015

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Whether you have decided to open your first retail store or your tenth, you know that it is important to find the perfect space! You want to make sure that your customers can easily find your store. You also want a store that is appealing to your customers so that they are happy and they keep coming back.

Here are some tips when shopping for the perfect retail space for your store.

  • Know what you can afford. Before you even start looking, you have to know what you can afford each month. However, that does not just mean the rent. You also have to think about electricity, telephone, internet, and all of your other monthly fees so you can figure out what you can afford to pay each month for your rent.
  • Know what kind of space you really need. It is important to know what you need in a retail space. How much square footage do you think you need? You also need to think about growth. How much are you planning on growing in the future? It is much cheaper to get a little bigger now than to break a lease because you have to get a bigger space in a few months (or years).
  • Know Your Vision. The vision that you have for your business will lead you to the perfect location and knowing what you need from your location and space will help you in finding the right needs before you begin the process. Any planning that you can accomplish before searching for you perfect space will make you more ready for the negotiation phase and sharing that vision with the landlord.
  • Location. It is true that location is really and truly important. You need to be where your customers are going to find you. That may be in a busy mall or an established shopping center where you people are already coming and going. Maybe your customers are only in certain states and locations. You need to be wherever they are!

It can be hard to find the perfect retail space but you really need to figure out what you can afford and what kind of space you need before you even start looking. Next, really think about what type of location you need. Where are your customers going to be? That is where your store needs to be!

Contact us to help you find the perfect space for your retail store.

 

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