A good business point can be decisive in the results of your business. In this by park view city article you will discover that a poorly located spot can highlight negative aspects, cover up your establishment and even reduce the flow of people entering your store. To avoid these setbacks, see tips for defining which stores to rent are ideal.
Business point: the first step, rent or buy?
Before choosing between stores to rent, it is necessary to define whether it will be rented or not. For that you need to have a precise budget at the tip of the pencil and know the conditions of your business well. This is because, buying a property involves most of the time a long and expensive financing, that is, a long-term investment. Thus, this may not be the best option for someone who has just started in the business world and has little time in business.
Stores for rent, on the other hand, are a less bureaucratic investment and ideal for young businesses. In addition, renting a commercial point is not as definitive as buying one, so although it is not ideal, it is possible that you move if you have problems with the point in question.
However, if you already have years in the market and your business is mature and stabilized, investing in a point of your own can be a great option. Already knowing the best location for your business, look for points that are for sale and work for your activities.
Choosing the ideal business point: tips for not making mistakes
After deciding the type of contract that best suits you, it’s time to choose the commercial point. In it you will carry out your activities and as each business demands a need, it is not possible to create a recipe to affirm which is the best location for your business. But by following a few tips, you can reduce the risks of this venture.
This is a key point before deciding which stores to rent. A well-located store guarantees the flow of customers and the safety of their employees. However, as we have already stated, it is necessary to pay attention to the type of activity you will perform and which audience you want to reach. That’s the rule of thumb: go where your customer is.
If your business has a more popular segmentation, the ideal is to rent a store in locations with a large flow of people. Busy places like the city center, for example, are always the favorites of those who choose this type of business. However, here it is necessary to remember that these locations tend to have a more expensive rent than in other regions.
In contrast, if your goal is to offer a premium service, opting for a location in upscale neighborhoods may be a better choice. In addition, it is possible to study the possibility of stores to rent in a mall. Although the rent is a little higher, the environment offers security and guarantees a large flow of people.
Another very important issue is when it comes to defining the size of your business point. The larger the space available, the higher the rent will be. There are some calculations that can be done to define how much of your budget can be allocated to the business point, but they are not a rule. For franchises, for example, the advice is not to commit more than 15% of the budget, but depending on the business this number may drop to 7%.
Also, remember that the larger the space, the greater the expense for furnishing and decorating. So, pay attention to your needs and the demands of your business. If your company is young, don’t look for big, luxurious places. The ideal is to start small, opting for stores to rent smaller ones and, as your business grows, expand the point.
Finding the ideal business location will take time. Don’t think about closing the first deal you find. Look in different locations, try to negotiate the values with the owners and pay attention to some important points during the visits:
- The condition of the walls:check whether the walls are moldy or peeling. In addition, it is important to check for infiltration problems. All of this can take time, but it will save you a lot of money and a headache.
- The neighborhood: whenever you visit a possible commercial point, check the surroundings and the neighborhood. Do commercial establishments have a target audience similar to yours? This is very important as they can become competitors. Also, check to see if these business points are empty. This may mean that it is not a good location for your trade.
- Security:ensuring the security of your business and your employees is essential. One of the great advantages of renting a commercial point located in a mall is precisely the security service that these places offer. However, if this is not a possibility for you, see if the point has security sensors, cameras and alarms. Finding locations that already have this equipment can save you a lot of money.
The importance of a good location
A good location can be the key to the success of your business, but it is not limited to that. According to Sebrae, it is necessary that your commercial point offers accessibility and favors impulse selling. This is because it is necessary for your customers to access your store without problems and that even without the intention to buy it is possible to sell your product.
To do this, ask yourself questions like “what is the flow of pedestrians on the site?” or “does the area in question have parking facilities close by or is it possible to park on the streets?”. In some cases it is important to study the possibility of offering exclusive parking for those who frequent your establishment.
In short, to choose a good commercial point it is possible to use the 4 P’s of marketing: point, product, price and advertisement. Thus, to guarantee a good commercial point some steps can be followed:
- Define the consumer profile
- Analyze the contract and its payment terms
- Pay attention to aspects such as ease of access, visibility, volume of traffic, place to park, noiseand security.
In addition, it is important to ensure that the location you choose allows easy access to your suppliers and raw materials. If you have a restaurant, for example, it is interesting to have establishments that sell food such as supermarkets, sales and greengrocers close by. Also avoid stores in front of bus stops as crowding can compromise visibility.
Choosing a good business point avoiding mistakes
As we said, the commercial point can be very important for the success of your business. Some tips can help you find the sweet spot and increase your chances of success. Choosing a good location and ensuring that your choice matches your reality is essential. Many people let anxiety about opening a business get in the way of choosing and negotiating, and end up renting the wrong place or paying more than they should.