If you’re looking for the perfect place to build your new retail store, then you’ve come to the right place. With so many factors to keep in mind, it’s important to get advice and help from professional general contractors in the area. At MattBeth Construction LLC, we can offer support and guidance when you’re unsure where the best location for your new business is. Keep reading to learn some tips on what to look for when choosing the right location for your new retail place.
1. Traffic
When choosing a location for your new retail store, it’s important to keep the traffic around the area in mind. Is there a lot of foot traffic on the sidewalks passing by your desired location? Is there a lot of vehicle traffic? What other stores are around your location that may bring your target audience into your business? Keeping these considerations in mind will allow you to understand if your company can make a profit. If the traffic or visibility isn’t great, then it may be best to find another potential spot to build your new place.
2. Competition and Neighbors
Before choosing to sign off on a commercial lease, look at the neighboring businesses. Are there any competitive brands already stationed there? Your business could be helped or hurt depending on your neighbors, so it’s important to know what kind of stores are within close distance to yours and how much their target audience overlaps with yours.
3. Accessibility and Parking
Is the location you’re interested in accessible for the number of customers you think are going to be stopping by each day? Is there enough parking for your employees? The parking situation is a very important aspect to keep in mind because many people will find your establishment more accessible if they are able to park close to your front door. Having your own parking lot makes your property one of high value for you and your customers.
4. Location Costs
When planning to construct a new retail store, it’s important to keep your budget in mind. This project is such a huge investment, so you may be spending a lot of money already. To ensure you’re financially stable before opening the doors, think of your budget. With so many different types of construction materials to use and aspects you can add or remove from the project, you can feasibly keep this investment within your financial limitations. You should also keep every part of the leasing agreement in mind if you’re planning on leasing out a building. According to Business News Daily, it’s normal for the commercial lease deposit to include a security deposit and two months of rent. Making sure you have these fees ready to pay upfront can make a huge difference in the way you start your business.
5. Permits
When planning any kind of construction project, you should think about the permits that may be needed. When you work with a certified commercial construction consultant, they’ll be able to give you all the information you need about the location you’re interested in. They can ensure your project has all the permits and paperwork you need to keep it legal and safe in your town. Construction monitoring can also ensure the project runs smoothly and that everything is legal in accordance with the city’s laws. Don’t get in trouble for not following the city’s permit codes. Get help from a professional today and ensure they understand how important construction monitoring is.
According to Business News Daily, commercial leases are typically three to five years long. Choosing the right location is very important, especially since you’ll be locked in the lease for a few years once you sign. With our construction monitoring skills, you can rest assured everything goes smoothly with our crew. With over 17 years of experience helping commercial business owners in Florida with their construction needs, MattBeth Construction LLC would be happy to provide our professional advice and help you decide on your retail business location. Get in touch with us today to start planning a construction project with our certified team. Once it’s fully constructed and you’re looking for commercial building renovation services, then we’re the team to call as well.