In retail location really is everything. Whether you're on the high street, in a retail park or in the suburbs your location determines not only how many customers you get but it also helps define the image of your business. This guide helps you work out exactly what you want from your retail space and how to find the right location for your business.
Before you start to search for retail property you need to work out exactly what you want from your retail space. Make sure you think about the following areas:
Make sure you thoroughly research any potential locations. Spend time in the location and find out for yourself who visits the area and what kind of traffic local businesses are getting. For example, i you're looking at an outlet in a retail park you have to balance the benefits of guaranteed foot traffic against the premium rents.
It might sound a bit odd, but sometimes it pays to be situated near your competitors. Clusters of shops selling specific types of products can work well to bring in customers who know that they're likely to find what they're after simply because there's so much choice. This approach has worked well for sectors such as bookshops, antique shops and jewellery stores.
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