The retail experience has changed considerably for most people over the last few years. Between lock-downs and the massive boom in online shopping, the role of bricks-and-mortar retail outlets is evolving at a fast pace. That’s not to say there isn’t still a market for in-person retail – there most certainly is – it’s just that shop owners need to put a little more thought into the kind of retail space that can work for them.
In this article, we’re going to look at the sort of questions you should be asking if you want to find the ideal storefront for your new retail venture.
One thing that hasn’t changed for shops of all sizes is making sure you’re in the right location. That doesn’t just mean finding a spot that gets loads of foot traffic, either. If your store sells impulse items, then being on a busy thoroughfare is key. However, if you sell more bespoke items or your business model involves people placing an order or booking an appointment to view, this isn’t so important. If your customer makes the first move, then they will come to find you, allowing you to save money with a more out-of-the-way address.
Does your retail outlet have enough space out front for your to display your wares, or does your shop model require people to ask for a certain item that you will recover from the back of the store? Speaking of the back-room storage, does your property have enough of that to hold your regular, rotating stock?
In addition to space for your products, you should also ensure there is sufficient room for security monitors, cleaning equipment, tagging and pricing machines, and any office equipment you want to store out of sight.
Depending on the type of shop you are opening, you may require certain equipment, so it's essential that you factor in the amount of space it will need. If you plan to take card payments, you will need enough counter space to accommodate the card readers and tills. If you offer product delivery through a third-party service, you need space for their tablets in a prominent position to ensure orders are processed quickly.
You should also consider equipment for customer facing spaces such as printers, personalisation machines, gift wrapping devices, and entertainment systems.
Does your location have suitable amenities for your staff? This includes a break area with seating, toilets, a refreshments station, somewhere for staff to store their personal belongings, and so on. If your team are working all day, they need a comfortable environment in which to do it.
This is the big one. You might find the perfect store in the ideal location, with everything that you need to run your retail business under one roof. However, if your projected income fails to meet the running costs, it’s probably not worth the risk. This is why it’s so important to shop around and find a retail location that balances features with affordability.
If you’re looking for shops to rent in Liverpool, Centaur Properties can help you out. Give the team a call today on 0151 525 5569 to see what our latest availability is, or to arrange a viewing with one of our agents.
info@centaurproperties.co.uk
Kent - 0845 872 6334 Liverpool - 0151 525 5569
