We could easily list fifteen tips for those looking at retail space for rent, and if you want more tips than you will find in this article, we invite you to call us for more information. We are RDS Real Estate, providing quality industrial and commercial property for rent in the Greater Fort Worth area. Call us at 817-439-3224 for more information and to arrange for a tour of retail space for lease within Tarrant County.
And now, three helpful tips when looking at retail space for rent.
Know your budget and stick with it
Nothing will sink a retail business faster than not staying true to the operational budget. Running a business should never be a matter of robbing Peter to pay Paul. You should never put yourself into a financial bind simply because you “want” to spend more money on a particular aspect of your business, despite the fact you don’t have that money to spend.
Set a budget for your business, and allocate a certain amount of that budget for property lease. And, if you cannot find a retail lease space for that budgeted amount, perhaps, and we say this strongly, perhaps you are not ready to lease a retail space.
Know which is the best location for your particular retail business
The best location for your business is not necessarily the best location for other businesses. This is an important point to hammer home. What works for a clothing store may not work for your mom & pop grocery store. What works for an auto parts store may not work for a beauty salon.
Put another way, the hot spot for retail in your city may not be the hot spot for your specific business. We know, this is counter-intuitive to most business owners, but it is the truth.
Take our city of Fort Worth for an example regarding retail lease properties. Most people think that the core area for a business, in Fort Worth, is the downtown core, but in truth the area with the most promise for future growth, in the Fort Worth Metro area, is the Alliance Area of North Fort Worth. That area is actually the fastest-growing commercial and industrial area in all of Tarrant County.
Would it be right for your business? That is a decision you would have to consider and make. What we are saying is don’t assume that one retail area is the best for your retail business.
Understand your business and your exact needs
What does your retail business need? Make a list of all of your needs. Make that list extensive. You are going to make a business decision, choosing the home of your business, that will affect your sales for years. It is crucial that you begin your search with a very clear idea of your needs.
A bonus tip: consider all of your options and don’t rush a decision
It is impossible to overemphasize this point. There is no rush. There are hundreds of retail spaces available in every major city. Take your time. Do your research. Make sure that when you do decide, it is a decision based on market research. This truly is a case of the tortoise beating the hare in a race which will decide the future of your retail business.
A word about RDS Real Estate
Commercial property for lease? Call RDS Real Estate, locally owned and operated, standing by the phone waiting for your call. Ask around the business community, gauge the overall feeling that community has for RDS Real Estate. We are confident what their answers will be.