So you are looking to either open up a new location or move from a previous one. Before making any big jumps, it is important to make sure that your new retail location and space will meet, and hopefully exceed, all of your business needs. It can help to take a step back and look at the move from a strategic standpoint to make sure that your new space aligns with your business goals. Here are some big picture considerations when it comes to commercial real estate for retail locations.
Location, Location, Location
You’ve heard that the three most important factors in retail are location, location and location. This one aspect of your new retail space could make the world of difference in the success or failure of your business. Take time to align your business, industry, and customers and know where your business stands the best chance.
Keep in mind, that if you are attempting to grow the business over time, it would be very beneficial to move to a location that can grow with your business. If you move into a small retail store and you can’t easily expand your customer base grows, you may miss opportunities.
Where is the Competition?
Competition studies can help you determine the best location for your retail business. Where are they located, and secondly in what specific areas do they prosper and where are they struggling. It only makes sense to gather this information and use your competitor’s mistakes and successes to your advantage.
These three items are very important to the success of your business after the big move. If you have questions about locations or are in need of a Boise commercial property, contact us today!
If you are considering moving into a new office space, there are a few things you will want to consider before doing so. The office of a business can say a lot about the values, quality and image of a company so be sure to make informed decisions about the move. Here are a few things to deeply consider before making any serious moves.
Firstly, you will want to review your business operations and what the requirements are for the new space. These requirements typically include the amount of space needed, the layout of the office, whether the office has ample access to utilities and a few other considerations.
Next, figure out how you want to move the office. Do you want to move all at once or move in a more step-by-step formation? The type of business you run and its specific requirements will impact how you decide to move.
Lastly, find a broker that will be able to assist you. Brokers are typically able to save the client a significant amount of money because they are able to negotiate preferable terms for your rent or purchase.
These considerations must all be thought through and acted on properly to have the best office acquisition for your business. If you have any questions about commercial real estate or want more information, call us today!