It’s no secret that shops on the high street are struggling. All over the UK they’re shutting their doors at alarming rates. Major chains are struggling under the stresses of e-retail behemoth Amazon, a company that seems to go from strength to strength despite its ethically dubious working practices.
There’s no doubt that this is one of the reasons for so many startups slinging their wares online. A physical presence has, arguably, become a luxury expense when all you need is a decent website and a niche customer base to stay afloat.
But when it finally comes to making the leap into a brick-and-mortar premises, many new entrepreneurs are left scratching their heads at lease agreements and wondering how their globalised (and, therefore, disparate) customer base will benefit from a shop on a high street in one city.
The reticence of these businesspeople is understandable. After all, the world of retail outlets is hardly in rude health.
Taking a gamble on a shop for sale is, however, a wise choice, and will help you expand your business in the long term.
If you’re still reluctant, then let us give you a helping hand. Here are a few tips for any businessperson looking to jump into the physical retail world for the first time.
The right helping hand
Everyone knows that most letting agents are about as trustworthy as a snake trying to sell you apples. They’ll most likely stretch the truth of a property until its paper thin, just to make a sale. Every one of your questions will be met with a politician’s answer, and the idea of a soft sell isn’t in their vocabulary.
They aren’t all bad, however. Some letting agents are straight down the line, providing you with the information you need in a no-fuss manner. Shop around for an agent you can trust and stick with them.
Look to your customers
If you’ve already got a robust customer base, then finding a location for your new shop shouldn’t be too difficult. All you have to do is ask your core clients where they’d most like to find you. But that’s not the only factor you’ll have to put into consideration.
You’ll also have to think about your price range, the likelihood of ensnaring more customers and the amount of space you need to house your stock.
This will become easier once you’ve found a letting agent you can work with, so liaise with them at every opportunity until you’ve figured out your ideal specifications.
Our small article is only the tip of the iceberg when it comes to letting advice. If you’ve got any more tips, let us know in the comments section!