What to look for in a retail commercial lease
When you set out to start up your own business, there are many factors you must consider before ...
When you set out to start up your own business, there are many factors you must consider before taking on any major financial risks.
Deciding where to invest in a commercial retail property is one of the most important decisions you will have to make, as it involves both the location and the budget of your venture - two critical factors that can affect profitability.
Where you decide to set up your commercial property directly relates to the demographic you are targeting. For example, if your product is a confectionery shop, there is a good chance that most of your customers will be children.
Having a store near schools can increase the possibility of being visited by your target market on a daily basis and therefore increase your chances of making money.
However, a great spot for a retail lease loses all benefits if it is too expensive. High rental fees could eat away at your income and make any advantage gained by a great location moot.
It is very important to choose a commercial retail lease that suits your needs.