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‘Forbes’ offers overview on how to find/decide on the right retail space for lease.

Maybe you’ve decided it’s time to expand your business, and you need to start searching for new retail space for lease. The Forbes’ website offers an overview on steps you should consider following as you make your business plan.

It’s about ‘comparing.’

Even though looking for retail space can be an energy-sapping experience, don’t settle for that first place you look at. In fact, it’s best to compare at least “two or three places that work.” Doing so may give you better negotiating leverage when it’s time to decide.

Don’t look at just the monthly lease payment…

Before signing any lease, be sure you’ve looked closely at all the expenses that will be associated with the retail space. Are there maintenance costs involved, for example? What utilities are included?

Don’t fall in love with the space…

Save that for your customers: try to see it from their viewpoint and keep your “emotional attachment” at bay until after you’ve signed the lease:

“…the only emotion that should enter into your decision is whether customers will get excited about the location. Love is for lovers—this is business.”

Ask to see the lease…

You should be able to receive a “pro forma copy” of the lease. Don’t assume that all leases are standard…each one can vary considerably.

Time for the ‘spreadsheet’ comparisons…

Once you’ve narrowed your choices down to two or three, then it’s time to really look closely at all of the details: leased square footage, unit lease price and all of what’s called incremental expenses—including maintenance.

A rule-of-thumb…

It’s a best to ask your lease agent for the ‘unit lease price. That’s the price per square foot of the space calculated annually: $18, $24, and so on.

Looking for that perfect retail spot in the Clarksville area? Contact us and let our professional leasing team start working with you today.