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What should you think about when choosing a retail location?

On Behalf of | Jun 11, 2018 | Commercial Real Estate Transactions |

If you’re trying to choose a retail store location, it’s a good idea to think about a few different things. You should consider your preferred customer base. Will the store be convenient to your target customers, and will the store’s exterior and interior be visually appealing to them? Also consider what you’ll be selling and how much space you need to do so.

The reason you need to consider these things is that not doing so can end up coming back to haunt you. You could choose a space too small for your needs or end up with a location that isn’t in the right part of a city or town to reach the customer base you wanted. For instance, if you were looking for a teen audience, then you might want to place your business near the school instead of near an area where there are primarily renters or college-aged adults.

Visibility matters, as does making sure people know what your store sells. You should consider a building with a window front or large signs that show what’s inside, so you catch the eye of those who pass.

Of course, before you sign any lease, you need to know the policies, rules and procedures for the location. Make sure it’s zoned correctly for your business, and ask about changes in traffic or the potential for roadwork in the area that could take away important business from your location. Also, will your desired signage comply with zoning and landlord restrictions?

With the right preparation, anyone can find the right retail location. Be patient, and remember to get the facility that’s going to work out best for your business and opportunities.

Source: The Balance Small Business, “Choosing a Retail Store Location,” Shari Waters, accessed May 30, 2018