Why Choose UsChoosing the Right Location for Your Retail, Office, Warehouse, Tech, Warehouse Business. Before even looking at spaces online or on the street, establish a price range and do not allow yourself to go above it no matter how much you desire the amenities and offerings or how much another party pressures you to select a more expensive space when considering retail for lease. Exceeding your budget will greatly limit your profit margins and potentially the success of your business.
Evaluating your reasons for having a Minnesota commercial real estate space will greatly assist in the often daunting process of choosing an ideal location. Selecting the appropriate and ideal location of a retail company requires great consideration for your end goal.
While employee satisfaction is always important, a commercial real estate renter should also equally consider the needs of the desired target consumer when deciding upon the most ideal retail location. A strictly retail business in an incorrect location is far less likely to succeed than a business possessing prime real estate.
Location is essential to the success of a bricks and mortar business. Without easy access for foot traffic, your business may struggle to bring in additional business. Even if you have the best marketing team, businesses that are too difficult to find or reach, will be negatively impacted by the location.
You should determine your ideal target market and determine their shopping and daily habits. If you are seeking to attract a younger clientele, a mall location may be ideal for your needs. If you are seeking individuals who are concerned about their health, look for retail space near doctors’ offices or fitness centers. You should also consider your indirect competition and where they are located. These businesses may provide you with a built-in client base without even having to do any marketing simply by your location proximity.
Do not forget to ensure ample parking is available for all clientele in the area. You should also consider retail spaces located on the busiest streets, intersections, and freeways to increase foot traffic and for increased visibility. If your store is easier to access than the store of your competition, you will gain their business. Selecting the ideal location in retail is one of the most important and challenging aspects to successfully accomplish, so take the time to consider all of your options.
General Tips When Leasing Warehouse, Office, Tech, or Medical Space. Leasing a commercial office, warehouse, retail, medical, or tech space is not about what is convenient for you, but rather what is best for the company. Do not select a location based on the proximity to your home. Always consider the needs of the business before your personal wants.
To save money, seek out warehouse space that has already undergone the transition to becoming green. If you find a space that has not yet made the conversion, make it a requirement of the landlord in your negotiation process. You should also incorporate green practices into your daily operations.
When you look at a commercial space, look at it as a blank canvas rather than its current state. Most warehouses have the ability to transform into anything you desire with very little work. As you tour a space, keep an open mind and try to envision your dream space to determine if it is feasible. This could save you thousands of dollars a year.
Do not forget to consider growth. Review your 5-year plan before you begin looking at locations to determine whether or not it is conducive to the vision of your company.
If people will be working in the warehouse, consider the needs of your employees. A happy employee is a productive employee. A productive employee makes for a healthy bottom line.