This may seem like a strange article for a commercial real estate company to write and post, but we feel that an honest, open-eyed approach to leasing retail lease space is the best way to go. There are far too many businesses failing in this post-pandemic world, and we don’t want to see yours added to the list.
We are RDS Real Estate, serving the Greater Fort Worth/Tarrant County area. Call us at 817-324-3224 for more information and helpful tips when looking to rent retail space for lease.
Now, let’s talk about some important considerations regarding retail lease space and your need for it.
Do you really need retail lease space?
There is a huge difference between needing something and wanting something. Our question to you is simply do you really need retail space for rent? If you are a home-based business looking for a retail location for your fledgling company, is this a “want” or is this a “need?” Will your business benefit from a retail location? And then, of course, more questions follow. How large a retail space would you need now? In five years? Which location is best for your business?
Is there an alternative you haven’t considered?
If you have been doing well prior to this moment, is it even necessary to stretch out into the retail world? Perhaps you would do better on Etsy or some other online marketplace. Perhaps you would do better at trade shows, farmers markets, or holiday shows? Here’s a radical idea? Would it be possible to partner up on the rental of some commercial property for rent? Take one retail space, partition it off into two shops, and split the cost.
Do you have the funds to cover overhead and incidental costs?
It’s time for a discussion about the nitty gritty of it all. Can you afford commercial property for lease? Not just the rental monthly cost, but the cost of utilities, signage, WiFi, marketing to announce the move, insurance, etc. . . . running a business from a retail location is not an inexpensive undertaking. Our suggestion is for you to make a detailed list of costs associated with such a move; does your business generate enough sales to comfortably pay that overhead each month?
Would it be better to delay this decision six months/one year?
Uncertain times we live in; make no mistake about that; it is virtually impossible to predict how a particular market will do in six months or a year? We don’t know how the economy is going to rebound. We don’t know what the new normal will look like. Perhaps you would benefit from waiting six months or a year before moving ahead with this plan?
What is the industry forecast for businesses in your field? What is the industry forecast for your area in general? Is it favorable for a move such as the one you are contemplating with a commercial property lease?
A word about RDS Real Estate
We know, it sounds like we are arguing against you making the move into a retail lease space, but in truth we are doing what any qualified commercial real estate company should do. We are asking you to take a realistic look at all factors. We are trying to help you to make the absolute best decision for your situation, and you should expect nothing less from RDS Real Estate. Call us to arrange to see some quality retail lease space in the Fort Worth area.