This question about retail space for lease might seem a bit silly at first, but it is a crucial question to answer before you begin searching for the new home of your business. Rent too large and you are bleeding dollars in rent you don’t want to bleed. Rent too small and you will quickly outgrow the space and need to move once again.
We are the Fort Worth Design District, and we have it all when it comes to retail space for rent. Call us at 817-439-3224 for more information and to arrange for a tour of some quality and affordable retail space.
How much retail space for lease do you need?
For an established retail business, moving to a new location, answering this question is a bit easier. You have already had a retail location, you know what your sales are, approximately what they are forecast to be next year, and you can make an educated decision on the amount of space you will be needing.
It is not so easy for a starter retail business. The hard truth for starters is this: There really is no way to predict what your sales will be that first year, or the first couple of years. So many factors play into the success, or failure, of a retail business, and we would be doing you a disservice to say anything other than that.
Our professional opinion is to plan for modest sales and prepare for better than modest. You will want to keep the rental cost down that first year; you do not want to strain your operating budget those first few crucial months of operation.
Hope for the best and prepare for the worst. That may not be an uplifting statement, but it is realistic.
How much retail space for lease will you need?
What are your sales projections for the following years? This is an important question. Although exceeding your projections is a great thing, it also may mean moving your retail business two or three years after opening, and that could be catastrophic for sales. In a perfect world, the retail space you choose now will be the space you occupy ten years from now.
So carefully plan ahead and try to be prepared for future growth.
Can you have both easily with spending too much?
If you were paying attention, you will have noticed that we have basically told you two different things. We have told you to plan for growth but to also be wary in case growth doesn’t happen. How can you do both?
At the Fort Worth Design District, one of our business parks is Box Office Warehouse Suites. There you will find rental units which are 320-square feet in size, and those units are also constructed from used shipping containers. This means they can easily be added to one another, as they were designed to do on cargo ships. What this means to you, the shop owner, is you can rent one when you start out, and if sales boom you can easily add another unit to expand your store . . . and this means you can stay at the same location no matter how successful you become.
A final word about the Fort Worth Design District.
The Fort Worth Design District consists of the aforementioned Box Office Warehouse Suites, Paddock Place Office Suites, and the Golden Triangle Business Park. Our properties range from 320-square feet in size to 50,000 square-feet. Call us today for a tour of this truly unique business enclave . . . and bring your dog. We have a dog park because, well, dogs and man’s best friends.