It really is quite amazing how many business people do not know how to shop for retail space for rent. These are bright people, successful people, people who run their businesses with creativity and savvy, but when it comes to looking for retail space for rent, they log on to Craigslist and pick out a couple listings to go look at.
There is a better and smarter way to approach this important business decision. Call us at (817) 439-3224 and ask us your questions about retail space for lease.
There are two crucial considerations when looking for retail lease properties: cost and needs. They are interconnected, they are vitally important in making a decision, and they can make, or break, a business if they are not looked at. Let’s begin with cost.
What can you afford for retail lease space?
Only you know what your budget is, and only you know what your projected sales figures are. What can you afford now, and what will you be able to afford in the near future, because you are not only renting retail space for today but also for a year or two or three in advance. Retail space leases by the square foot, so your first step is to determine how much retail space you will need for your business. If you are a small business just starting out, perhaps all you will need is room for a counter and a small display room; perhaps something in the 300-1000 square foot range will do nicely. Most home businesses which expand into the outside world can certainly get by on retail space no larger than 500 square feet, which is a space approximately twenty feet by twenty-five feet in size.
What else besides size for a retail space search?
Next you need to do some research to find out a good price for retail space. What is the average commercial price for retail space for rent in your area, and this will lead you to research about location. What is the best location for your retail business? You will want to find a location with good traffic flow, but also a location which is near your prospective customers, and be prepared for the real estate truth that certain locations will raise the price of commercial property for rent than other locations.
And finally you must decide on your specific needs. Do you need a small office? Do you need a storage room and a loading dock out back? What are your specific needs for the actual retail display room? What kind of wiring do you need? What kind of security do you need.
Once you answer all of those questions you can begin your retail space for rent search.
But we suggest you find a commercial property for rent real estate firm you can trust to help you with that search. The commercial property world is no place for amateurs and the uninitiated, so find a real estate company you can count on.
RDS Real Estate is one of the leading commercial real estate companies in the Fort Worth area, with over one-million square feet of small, multi-use commercial properties in Tarrant County. Locally owned and operated, RDS Real Estate is the place to call for commercial property for lease in the Greater Fort Worth area.