Expanding Your Retail Business? Important Points To Discuss With Your Commercial Realtor

While growth is the goal for every business, expanding customer and client bases is sure to present a few challenges, one of the most pressing of which is space. In retail businesses, having sufficient space is critical for creating attractive display options for products, housing extra inventory, maintaining a safe, comfortable working environment for employees, and hosting an enjoyable customer shopping experience. 

Because of the particular challenges faced during the expansion of a retail business, it can be beneficial for owners to discuss the following points with their commercial real estate professional well before signing a lease or making a purchase offer on a future business location. 

Will the new space provide room for future growth? 

Moving an existing retail business to a new location will surely involve some level of disruption in the flow of customers and clients, even though the move was necessary to provide better service or make more products available. Business owners can help to minimize future disruptions by choosing their new location with long-range goals in mind. 

Taking time to meet with a commercial real estate professional before beginning to search for possible locations can give business owners valuable insight that will help them narrow their search and more quickly find a well-suited location to lease or purchase. 

Can the new space provide adequate parking? 

Having convenient, safe parking options for customers and clients is a necessity, even in areas where pedestrian traffic is good. Making sure to discuss each property's available parking options with your commercial Realtor can help business owners quickly eliminate those with little or no private or public parking spaces in the immediate area. 

Does the property offer space for deliveries and storage?

Keeping the shelves and displays filled with attractive, well-priced merchandise is the key to offering customers a shopping experience that will make them want to return often. In a busy retail environment, it may be necessary to restock shelves several times each day. Having on-site space for merchandise storage, as well as docks and room for delivery vehicles will make the restocking process much more cost-efficient than it would be if an off-site storage facility were used.  

In addition to the points mentioned above, working closely with your commercial Realtor can also provide key information about the area, such as current and future zoning plans, tax information, and any perks that may be offered by community development or other programs designed to attract new or growing businesses. 

Contact an agency like Weichert, Realtors® - Good Life to learn more.