If you only read one article before you start your search for retail space for lease, read this one. It not only will save you money, but it will give you important knowledge which will translate into increased sales in the near future.
We are Fort Worth Design District, a brand-new commercial and industrial enclave in the Alliance Area of North Fort Worth. Call us at 817-439-3224 for more information about our business park.
Location is crucial
When talking about retail space for rent, location is just about everything. You need customers, so your retail space must be where the customers are, or where they will be in the very near future.
Walk-up traffic is highly-desired. A location with good traffic flow is desirable. Being located near a business which is related to yours but not in direct competition with yours would be optimal. The ultimate goal is to find retail space where customers will naturally flow by your place of business, thus bringing your potential customers without you having to advertise.
In the old days of retail, the best place for a retail business would be in the downtown corridor. That is not, however, necessarily true today, especially in large cities like Fort Worth. The 2000’s have seen a rise in funky neighborhoods. They have shown a resurgence in strip malls and themed-shopping malls, with the downtown corridor now specializing in industry and commerce, banking and investments.
Yes, location is important, but probably a more pressing question for most small retail businesses is this: what can they afford?
Commercial property for rent is priced based on location, and a particular location is priced according to the median income of residents in that area plus square footage plus overall popularity of that area. The problem many small business owners have is they have a $1,000 appetite on a $100 income. In other words, they want much more than they can afford.
Which brings us to the all-important question: what can you afford? Put together a realistic budget, find out what you can safely and comfortably afford for retail space, and then find retail space for lease which fits into that budget.
Make a list of your needs for your retail business and the retail shop for rent you seek. Can you find such a property in the location you desire?
What about future sales projections? If you plan on your business showing a 30% increase in sales, shouldn’t you be renting a slightly larger retail shop for rent now so you don’t have to move in five years? Can you afford a slightly larger retail space on your budget?
Follow the flow
We have given you a lot of questions which need answers, and quite possibly we have darkened your mood a bit. But we do have an answer in the Fort Worth area, and that answer is the Alliance Area, and in particular the Fort Worth Design District.
The District is located in the absolute hottest and fastest-growing industrial and commercial area in all of Tarrant County; in fact, it is the third-fastest growing in the State of Texas. Prices are lower in the district for now; that won’t be said in five years. Now is when the bargains can be found. Now is when the smart business person will look to The District for answers.
The Fort Worth Design District consists of Box Office Warehouse Suites, Paddock Place Office Suites, and the Golden Triangle Business Park. Call us for more information and to arrange for a tour of our quality and affordable retail space for lease.