There are a lot of factors that go into finding the perfect retail space for lease. We’ll explore just a few to help you get the most out of your investment.
Size
When you are looking at potential retail spaces, make sure you consider the usable square feet in the space. Two different landlords may claim to have 10,000 square feet of space, but one might have 20% taken up by elevators, stairs and lobbies, while the other only has 10% of his space taken up by those things. Make sure you understand the minimum amount of square feet you need to display your products, and determine if your prospective retail space for lease has that much usable space.
You should also consider the space that is available for storage and backstock. Not having the appropriate amount of storage space can reduce your efficiency and affect your retail area when your stock overflows into customer facing areas.
Location
The location in which your store is located says a lot about your brand. Are you selling custom suits? You need to be located in a relatively hip, middle to upper class area. You should also consider the kind of foot traffic that comes through the location. Custom suits might not sell well in a college town but they’d probably do pretty well in an area frequented by businessmen and lawyers.
You should also consider the amount of parking that is available and where it is located. While some locations may be frequented by people used to walking to stores in the area, others may require customers to drive, and you don’t want them walking in frustrated with the parking situation.
Take into account the products you are selling and how easy it will be for your customers to load them into their cars. Most won’t have a problem carrying bags of clothes to their car two blocks away but they aren’t likely to want to carry a canoe or coffee table that far.
Consider the display area in the retail space for lease.
Many retailers want or need to be able to display their products in windows that face passing shoppers. Make sure you consider a retail space for lease that has enough space in its displays and that you will be able to get the store fixtures you need and modify the area to properly show off your products. This will be one of the first impressions your customers get of your store, and you want to make sure it properly reflects you and your brand.
Special Requirements
Depending on your business, you might have special requirements for your space. You might need an industrial kitchen, or a loading dock protection to safely accept new shipments of product. Do you have specific requirements for water or gas? What about the weight limit on the floors? Make sure you understand what you require in a space and that your prospective retail space for lease meets all of your requirements.
The perfect retail space for lease should reflect your brand.
The most important thing when you are choosing a retail space for lease is that you choose something that reflects your brand. If it doesn’t fit with your business and how you want to appear to your customers, then it isn’t the right space.
