Are you seeking the perfect retail space for lease? This is an exciting time for you and your business. But how do you know a space is perfect for your needs? Here are a few things to consider as you get started:
How much space do you need?
Figure out exactly what your bare-minimum square footage needs are, and start your search from there. The amount of space you lease equals how much you’ll be paying in rent, so try not to lease more than you need.
How much are you able to spend on the perfect retail space for lease?
Know your budget before you even start to shop around. Don’t let yourself fall in love with a space that is far out of reach financially. Retail space is a big investment, but don’t stretch your funds too thin when a more reasonable property might meet your needs just as effectively.
Where is your ideal location?
Ask yourself these questions:
- Do I need a space with lots of foot traffic?
- Do I need a quiet location that’s off the beaten path?
- Do I want to be in an up-and-coming neighborhood?
- Do I need somewhere that already has a well-established retail presence?
- Do I need access to public transportation, shipping lanes, or railroads?
Take all of these things into consideration as you shop around.
What kind of tenant mix do you want to be a part of?
Consider how your business will gel with the other established tenants in a retail space. Keep in mind the types of retailers, dining, and services nearby that could draw in potential customers to your business. Examining the tenant mix of any space you’re considering is wise. Consider talking with other business owners in the retail space as well. Get to know how the landlord does business and how they treat their tenants before you make a final decision.
Take the leap.
If you feel great about a space and are ready to take your business to the next level, take the leap. There is no such thing as a perfect space, but there is a perfect space for you and your business. Once you’ve done your due diligence, rest assured that you’ve made the best decision possible for this season of your business.
