What to Look for When Buying a Storefront

So you’ve decided to open your own business, congratulations! You’ve got your financing set, a great product line, and have lined up a solid group of suppliers. So what’s next? Finding the perfect place for your store. Before you start pouring through commercial listings, there are some things you should consider first. Have you conducted any market research? Do you know who your competitors are? This is very important when choosing a good location. If a competitor is already in the area and doing poorly, you must take that into consideration and try to figure out why. In order to maximize your chances of success you have to know what your competitors are doing right-and wrong.

You also want to choose an area that’s showing growth, is secure, and has lots of foot traffic. If applicable for your business and area, ample parking is also an important consideration. Make sure the space you choose gives you some room to grow. It’s a good idea to research the spaces you’re interested in. Run the addresses through Google and see what comes up. Have there been businesses there before? Why did they leave? The answers can tell you a lot.