Retailers Forum August 2021 EMAG

forumworkshop
FORUM WORKSHOP
You could starve because of the inconvenience
it causes shoppers. Leasing allows you the luxury
of relocating your business should something
about the location you select not live up
to your expectations.
That said, recognize that your lease, or mortgage
if you choose to purchase your site, will
likely represent the single greatest fixed cost in
running your business. For many retailers, location
is the make-or-break factor in their business.
You want the best possible location, and
you need a landlord or seller who will work
with you and share some of the financial burden
and risk, with the promise of being paid
back during the first year while you grow your
business. In the process you also want to make
sure your interests are fully protected, should
you ever need to sell or close the store.
DETERMINING WHAT YOU NEED
IN A STORE LOCATION
Your responses to the following questions
will help you narrow your search for a
location to places that best match your needs.
• Store name or type:
• Products sold:
• Planned days & hours of operation:
• Required utility connections:
• Store departments:
• Types of displays you will use
on the sales floor:
• Estimated total space needs,
in square footage:
• Amount used for: sales floor; warehouse;
office; employee area
continued...
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Page 40 AUGUST 2021 | RETAILERS FORUM MAGAZINE
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