At Fort Worth Design District, we have retail space for lease costing as low as $875 per month, which sounds like, and really is, an outstanding monthly lease fee. But, in the spirit of honesty. The monthly lease payment is only a portion of the total cost of quality retail space for rent, and it is that total cost which we will talk about today.
We are Fort Wort Design District, offering outstanding commercial and industrial space for lease in the Alliance Area of North Fort Worth. Call us at 817-439-3224 for more information about retail space, an office for rent, a warehouse for rent, or any other space you may need for your business.
Monthly lease plus what? That is the question!
Start-up Operating costs for a retail space for lease
Licensing and permits
Starting a business, or relocating a business, will involve certain permits and licensing. These costs will differ depending upon the city, county, and state where you operate your business. Some will be one-time only; others will be renewable each year.
A retail business requires fixtures for displaying product. It will need other furniture to complete the interior and add to the ambiance. For those on a tight budget, most of these things can be rented monthly; for those with a nest egg, purchasing will be the best choice for the long-run.
No, this is not a huge expense, but every expense needs to be included, and our recommendation is to estimate high rather than low. You can always count on unforeseen costs, so estimating high will cover those unforeseen costs in most cases.
Yes, you need insurance. Yes, we recommend an accountant and a lawyer. Owning a retail business, no matter the size, is a gamble at best, and the Streets of Commerce are lined with business owners, gone bust, who were not adequately protected from lawsuits, government taxation, and the like.
Utilities and WiFi
You can easily be looking at $500+ monthly for utilities. It’s amazing how many first-time business-people fail to include utilities into their monthly expense sheet when they first start out. Don’t you be one of them.
What signage does your business need, interior and exterior? Your business needs a professional face; that face will be seen by drive-by traffic and walk-by traffic. It is the first thing potential customers will see, so make sure it is worth seeing.
Ouch! We might as well tell it like it is. If you are just starting out, this expense will hurt, quite possibly in the tens-of-thousands. Don’t scrimp on this. You want your retail store to appear full of merchandise just starting out. A full store appears to be a healthy store, and appearances mean a great deal to a retail business.
You can go light on advertising, or you can go heavy. It really depends on the nature of your retail shop, the location, and whether you have a ton of competition or you are unique in nature. The bottom line: you will need advertising of some sort, in some volume, so plan on it.
Again, our advice, budget on the high-end; that way you will plan for expenses you haven’t foreseen. You can always adjust your budget downward once you have a couple months under your belt.
A final word about Fort Worth Design District
The Fort Worth Design District consists of three separate business parks in North Fort Worth: Box Office Warehouse Suites, Paddock Place Office Suites, and the Golden Triangle Business Park. No matter what you need in commercial and industrial space for lease, you will find it at the Fort Worth Design District.