What commercial premises for rent is for you?
Finding a commercial space to rent is not a particularly challenging task. Empty buildings often surface in shopping malls, shopping malls, and along highways. Unfortunately, not all spaces are the same. It’s challenging to match your new business to the most advantageous of the many locations available. Site selection is crucial to success, so take the time to find the ideal environment for your business.
Where does your business need to live?
Bad locations can kill good companies. It is important to think about what type of space your company needs. A tractor supply company may be exemplary in its field, but it probably won’t experience its greatest potential return if it is located in a bustling mall dominated by fashion labels. Finding the appropriate cultural context for business is key. A freestanding building may be ideal for you if you need something bigger. For example, if your business completes multiple operations on site, you may need space to accommodate various work areas. If you are merging manufacturing and retail, you may need a spacious property.
Not all businesses are friendly to neighbors. This is another scenario where it is helpful to consider a separate space. Will the day-to-day operations of your business significantly interfere with the routine of pre-existing tenants at the establishment adjacent to you in a shopping center? On-site operations not only take up space, but also cause impractical noise problems. If you can see that this is a problem, a freestanding building is a viable option. If your store offers products that function as accessories to other items, it could be beneficial to position yourself alongside stores that sell complementary products. A mall location might be preferable in this type of setting.
There is a practical component of leasing that cannot be underestimated or ignored: rent. Find a space that is economically efficient without being culturally irrelevant. The hippest, hottest place may match your lofty ambitions, but it won’t be impressive if you can’t afford it. Make sure the lease is a budget commitment that can be sustained.
Know your people, know your place
Adopting your target demographic is essential to site selection when exploring commercial space for rent. Naturally, you can reasonably forecast who might be interested in buying from your inventory. Consider which location would attract the most attention of these buyers. If you’re looking to catch the eye of highway commuters when they leave town, a freestanding building next to a main road could be the perfect place to settle. A retail store that caters to teenage girls may find it just as favorable to snuggle up in a mall. Research area demographics and relevant statistics on your desired consumer base to predict where to grow your retail dreams.
Do the products match the space?
Practical logistics cannot be ignored in site selection. Consider the size and aesthetic properties of your inventory when selecting commercial space to rent. How big are your products? What is your ideal way of displaying them? Is there room for your retail vision? These are questions to ask yourself when viewing a potential location. Choose a location that reflects your goals, your budget, and your buyers.
