Finding retail space for lease is not difficult if you live in a city of reasonable size. Finding retail space for lease which meets your needs and your operating budget, that is a bit trickier, especially if you are a small business owner. This article will give you some strategies to consider, and better prepare you for the search ahead. Contact us if you have questions after reading this article. We are RDS Real Estate, in Fort Worth, Texas, and our number is (817) 439-3224. We are standing by to help.
Things to consider with retail lease space
Retail lease space,like a warehouse for rent, is priced by the square foot. This is a crucial point to understand as you begin your search. Paying $1 or $1.50 per square foot, per month, becomes expensive quickly. A 1,000 square foot retail space for lease can easily cost you $1,000 per month, and trust us when we say most retail lease space is at least 1,000 square feet in size. Do you need that much space? This is the first question you need to ask. How much space do you truly need? There is no reason to pay for space you do not need. On the other hand, you also have to plan for future growth. You don’t want to face moving to a larger retail space in six months because you have outgrown that space you just moved into.
For small businesses this is crucial. Five-hundred dollars can be make-or-break for a small business, so knowing exactly how much room you need is going to be one of the most important calculations you make as a business owner.
Location is crucial
You may find some inexpensive commercial property for rent, but is it in a good location? Nice retail space for rent in a rundown section of town will do you zero good. Retail space in an area of town rarely traveled by customers will do you no good. Retail space with poor accessibility will do you no good. A retail business needs good traffic flow. It needs commercial growth in the area, and it needs easy access. Finding a “good deal” for retail lease space in an area of poor growth will be like pouring good money after bad.
Keep looking until you find a solution which works for you
What is the number one expenditure for a small business? The actual physical building and the lease cost of that building. You cannot afford to make a mistake, so keep looking until you find the situation which perfectly fits your needs. If you can’t find it, don’t settle for second-best. A small business can go out of business in a matter of months if the overhead is too high, or if customers do not arrive. Make sure you also ask about average utilities associated with the retail lease space, and any other costs you may not be aware of. A good commercial property leasing agent can help you with this information.
About RDS Real Estate
RDS Real Estate is locally owned and operated, and has over one-million square feet of multi-use commercial properties for lease in Tarrant County, Texas, including the Fort Worth Design District, which includes Box Office Warehouse Suites, Paddock Place Office Suites, and the Golden Triangle Business Park. Contact us for more information about great properties for small businesses in the Fort Worth area.