For many new businesses there are a range of factors to take
into consideration when it comes to finding the right location, and
low rent is often a major one. Whilst finding a place that's
affordable is important, if something seems to be too good to be
true it usually is. If a retail unit is significantly cheaper than
all the others you've seen it could mean you'll come into trouble
further down the line, so do your homework.  Ask businesses in
adjoining units whether they know of any issues, visit the site
later in the evening to see if there are problems with crime and
vandalism and check everything is all in working order. It could
just be that you've landed yourself a goldmine- but if in doubt,
investigate!

Cost aside, you'll need to ask yourself a few key questions
before committing to a new retail unit:

Does it fit my customers' needs?

Visualise your average customer and think about where they live,
what they do and how much time they have. Choosing a space that's
easy for them to get to and accommodates all their needs (room for
pushchairs and prams, wheelchair ramps, baby changing facilities)
is essential if you want customers to spend their money and keep
coming back.

How will people find me?

If your business relies on passing trade it stands to reason
that you'll need to be visible. Choosing a unit in a busy walkway
with lots of footfall is essential if you want people to notice
you, and having clear signage is equally important. Find out about
parking restrictions and prices and anything else that may prevent
customers getting through the door- no matter how great you are,
it's pointless if people can't get to you!

How close is the competition?

If your business specialises in fine leather handbags you're
going to struggle setting up shop next door to an established bag
retailer with a loyal following of customers. Occasionally it can
work in your favour if shoppers are open to persuasion and have the
time to explore, but in the most part it's best if you can find a
spot where you won't have to work too hard to be the number one
choice.

How close is everyone else?

Choosing a spot that's close to a wide range of other retail
outlets will really help your business flourish. Serious shoppers
like to make a day of it, wandering in and out of all the different
units and mooching around to see what they have on offer, so even
if your products are a little more niche you're far more likely to
get passing customers if you're near to some of their favourite
stores. Being close to coffee shops, cafes and restaurants is even
better- shoppers need fuel so a unit near a popular eatery puts you
in prime location.

For information on our huge range of retail units up and down
the country, visit /retail/

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