You’ve just conceived an idea for your new business. You know why product you want to sell, you have employees lined up. All that’s left is finding an adequate building to be able to advertise and sell your entire product line. retail spaceisn’t easy to come by because of how many businesses succeed and fail each year. The one’s that tend to exceed have an office leasingand the ability to advertise their product in a way that makes them separate from their competition.
You need to look for space that able to provide you enough shelf space to advertise the product as well as enough space for your customers to conveniently and comfortably walk through the aisles to view them. Not a lot of people like to be crowded together trying to find the product they were searching for. They become claustrophobic and feel a need to get out of the store before buying anything. The importance in the amount of space you allow in unparallel to the amount inventory you have displayed. It won’t matter how much product you have out if everyone’s fleeing the store because of how uncomfortable they are.
The amount of space you decide to buy is of course proportionate to the amount of money you want to spend. If you spend all of your money on the largest space available with nothing to fall back on in case business is slow at first, you will find yourself closing the store down before it even began and your dream lost. No business started out a success. If you believe the product you’re selling will sell immediately than ask yourself, “How will people know about the product”?
The internet is vast but there are millions of other businesses trying to get their product out there and selling just like you. You can advertise in your local area, but that’s a very small portion considering the amount of people living in the United States. What you’re going to be relying is a marketing campaign savvy to those consumers you wish to target and service that carries over word of mouth. People can get a certain product anywhere, but they come to your store for the service and the atmosphere. Don’t forget this crucial fact when shopping for retail space.
As business begins to grow you will find yourself needing more space to hold the amount of customers foaming for your product. It is at this time where you don’t need to worry so much about how much space you have and how much it will cost because of how much money you’ve made. Expanding your business practice elsewhere may be a more beneficial venture than expanding your space. You can make a little more profit with small chains around the nation than a few large retail store. Unless your Wal-Mart.
Jason Ausmus writes for Innuity. For more information regarding retail space or office leasing, please visit Royal Commercial.
Posts Tagged ‘office leasing’
Inhabiting Retail Space: Don’t Be the Clueless Captain
Monday, July 6th, 2009Spaced Out: The Dangers of Overspending on Retail Space
Monday, June 22nd, 2009When you look for a new location to set up shop for your new or expanding business, assessing the amount of Retail space you need is crucial to saving money on the move. You want to leave room to expand, but buying so much space that you can’t utilize it all within a few months of moving in is a waste of money. This is also an important thing to consider when looking into leasing an office for your business.
Office leasingis essential to any retailer wanting to present themselves professionally in an office as well as a retail store. Just like with retail space, you want to make sure you don’t lease an office with space that you will not use. Office leases are calculated by the amount of space is in the office. You’ll want to look into leasing an office that is inside a building with different offices of other retailers. These offices save you money and are generally small enough for you to create a professional look for your business while saving yourself money.
If you’re a new business you want to evaluate the amount of inventory you will be selling as a retailer. If you’re not selling a ton of items, it is more cost efficient to share the space with another retailer. If you’re looking for a building that can be your own with only your inventory, make sure that the amount of inventory matches with the amount of space the building has. Wasting money on space that you don’t need will hurt your business in the long run.
For larger corporations that can afford a lot of retail space and offices will still need to take into consideration how much space they are willing to keep gray. It’s important to remember that even large companies are not invincible to the falls of the economy. Many large companies have declared bankruptcy in the past few months, and there’s no reason to think that your company is immune. Look at all the angles and make sure that you are not overspending. The money overspent could be money that keeps your business afloat during economic depression.
While it is important to make sure you’re not overspending on space, it’s also important to not under spend as well. If you only buy enough space for the shelves that hold your product, how our customers going to be able to browse the product? One of the most common phobias existing is claustrophobia. People who are in close quarters between the product and other people are less likely to buy the product. They just want to get out of the store and find one that is a little more consumer friendly. Make sure you find the right balance between the two.
About the author: Jason Ausmus is a web content producer for Innuity. For more information regarding Retail space and Office leasing, look to Royal Commerical.
Retail Space: The Final Frontier
Tuesday, June 16th, 2009In our corporate and retail space, the amount of space that you need to feel comfortable is vital to you and your employee’s environment. In closed spaces our productivity goes down. We are all independent creatures, and our space needs to be enough so that we can express ourselves without feeling trapped.
More space and room means a bigger office and building. Reports for office leasingwill become a tired process that is essential. As we begin to grow and add more staff, the more it becomes necessary to add more room and space. The desks and work areas will need to be widened, and the breathing room expanded. The productivity of your workers is essential to success. If they are comfortable, so will the customers they speak to.
When we talk about retail space, we focus on the amount of space it takes to make you feel comfortable, and the customer that comes into your office. If the customer feels quarantined in your office, they are likely not to buy anything from you. The feeling of being trapped brings a wave of claustrophobia over a lot of people and will want to get out of your office as soon as they can.
Finding adequate room for your office can be tricky. On the one hand we want enough space to be comfortable, but we do not want to pay for space that we are not going to use. There are companies out there that specialize in office leasing to help you make this decision. They know that you want to have enough space to expand. Constantly needing to move and get a larger or smaller office is not what we’re going for here.
Once you find the right amount of office space, and then come the questions of how you will decorate the office. You want to look professional. Choices like what color of paint you want on the walls, what kind of carpeting you want come into play. It’s important not to be too flashy when you want to give off the appearance that you are a professional company with something to offer. We are all different and want to show people our individual ideas, but conforming to a monotone office is necessary in the way of professionalism. Once you get your name out there and you become popular, you can begin to be flashier with your office space.
So when thinking about the office you want to build, be sure to keep these things in mind. You want enough space to be able to expand, but you don’t want too much that you can’t utilize it all and pay for nothing. The happier your employees are, the happier your customers will be. The phone presence is about as close a lot of businesses get to interacting with customers.
About the author: Jason Ausmus is a web content producer for Innuity. For more information regarding retail space or office leasing, please go to Royal Commercial.
What Help a Corporate Real Estate Agent Can Provide to a Small Business
Monday, June 1st, 2009We are in a time where dreams are scarcely able to become a reality because of the turn in the economy that has held as back. As it comes time, being positive about your finances when reviewing your office leasing can be a process that you cannot afford. A corporate real estate agent can help relieve you of the stress that may come when trying to communicate with the people that you need to in order to negotiate or move your business entirely to better convenient the turn of the economy. It is a gift that we must act upon, the ability to create an image and turn it into a living and breathing reality. As important as it is to be cost effective, the more we stray from the visualization, the more it becomes diluted to the eye that focuses upon it. We all strive to be independent and original so that our names will be remembered for something that we can all connect and share, but something that requires so much effort can seldom be done by only one person.
As time passes, our dreams begin to whiter and we start losing sight of the image we posses of them, the strength of the business may become lost in political ethics. When it comes time to renew the image of our dream, we may become biased by what our new political ethics determine. A corporate real estate agent can become the outside, looking in when trying your hand at office leasing. We create a business because we feel that we believe that the product we sell is revolutionizing an industry that has begun to fade as technology advances. As we think of our dreams, fantasies of wealth and pride befall us and we are delighted to feel this way. However, when we become too ignorant of the cost that comes with realizing your dreams, you may feel overwhelmed.
It is in this feeling of overwhelmed fear that there are companies out there that are driven to help you with this fear. Corporate real estate agents focus their business around helping you with this fear to turn it into the image that you’ve dreamed since its inception. As we progress, the cost of the location may become an issue with office leasing, which can be handled as long as we remain calm and believe that we can succeed no matter the situation. Every business has had its trouble when starting. When Microsoft started they were three people in a small building trying to come up with a marketable product just as every business does when they start. Back then, a lot of companies did not have the financial backing that you can have now. Nor were there a lot of companies that centered their business on helping smaller business manage costs and attain prominent affordability.
About the author: Jason Ausmus is a web content producer for Innuity. For more information regarding a corporate real estate agent or office leasing visit Royal Commercial
Considering the Location for your Office Space
Tuesday, May 12th, 2009So, the question is: where is the best location for your office space. When you are considering office leasing you will need to make a lot of choices. Before the economy took a turn for the worst, companies could consider location above all else. However, now, while location is still essential, cost seems to be taking over as the major deciding factor.
There are two major choices when considering location. Will you choose the downtown, in the hub of the activity, or in the outskirts? Which is right for your office? It may be that your company is not that type of company that would thrive in a downtown environment – do you need the luxury and the ease of being in the mix? There are some companies that may decide the higher cost is worth it because they need to be right in the middle of the action or near their competitors.
For example, many law firms may locate in a downtown area because they want to be close to the courthouses. Many also feel that they can conduct business more casually if they run into people when they are out for lunch or stepping out of the office for a brief period of time. Image might also be a considering factor for companies as those with downtown addresses may have a higher image.
Consider also the effect it could have on your employees. Will this location attract the type of employees you are looking to hire? Is the parking sufficient? Will everyone have to pay for parking or will you have a lot available? If employees are going to end up paying a bunch of their paycheck for parking you are going to need to take into consideration an incentive package that makes it more affordable or cost effective.
For some the benefits of moving away from a city hub might be a great way to save money. The business parks outside of the city can offer companies plenty of advantages, including a great way to entice local employees. By being more affordable, companies might be able to offer their employees higher pay or better parking options, including discounts to area restaurants or health clubs, as the case may be.
Traffic can be a concern for companies in a downtown area as well. Employees may be more likely to be on time if they don’t have to sit in traffic each day and hope for the best. This will also help employees save gas and make a positive impact on the environment as well. Employees that live close to work will really appreciate the extra time they have in the morning and after work that they wouldn’t have if they were stuck in the daily grime of traffic.
While there are many options that must be considered when searching for the best office space, consider the location as well. Carefully look into working both in a downtown area and outside in order to make the best, most affordable choice for your company. Not all companies need what a downtown location has to offer while others do – What does your company need? Answer this question and it will help you determine where to lease.
About the Author: Rebecca Beckett is a freelance writer for Innuity. If you would like more information about office space or office leasing go to Royal Commercial
Creating the Perfect Office Space
Monday, March 30th, 2009Whether you are moving into a new office space or rearranging the space you already have, make sure that you do it right.. During the tough economy we can’t seem to talk about enough, it is important to save money where and when you can while also being prepared for whatever the future may bring. The office leasing choices you make can make a huge difference in budget and the future of your company.
Take a minute to walk around your office environment making a mental note of things you see that could be consolidated. Do you have a filing system that is out of control? Maybe you haven’t purged the files in years or perhaps it is a matter of putting in place a better system or getting some better organizational tools like fixed shelving or larger cabinets. There are also companies that can help you get all your paperwork online as well. Storing all the paperwork electronically can be a great way to save space.
Do you have a central space in your office that is overcrowded with extra office supplies – one of those storage rooms that just seem to hold everything? Make sure it is organized and make sure you are not ordering supplies that are not needed. Creating a central place for all supplies can make it much easier to track everything on hand. And, if you have one central person to take charge of the ordering it can really help.
Cubicles can be utilized as opposed to offices in order to fit more people into one area. Take a look at the different types of cubicles available. There are cubicles with varying wall levels and in various shapes and sizes that can be perfect to accommodate all your space needs. Make sure that your employees are comfortable but use your space wisely when it comes to offices or cubicles. It can be especially useful to use furniture that can grow with your organization. Use furniture that might be easy to move or restructure if you are going to be adding or subtracting employees or simply rearranging the office.
If you are thinking about ways you can possibly downsize the office, perhaps having your employees work from a remote location is an option. Many times there are simple ways that employees can get access to all the information they need to do their job from home. This can not only be a space saver in the office but it also keeps some folks off the road as well, providing an environmentally friendly solution.
Take the time to plan out your office space so that you can make the most out of it. Walk around so you can find areas in which space is not being used wisely. Also, take a look at the furniture that you can add to make better use of organization and space. Whether you decide on offices or cubicles, there are ways to accommodate everyone in an organized way. In this economy we are all looking toward ways to make a difference in our budgets. Companies especially need to find ways they can organize and cut costs to make the most out of their office space. Make your office space perfect!
About the Author: Rebecca Beckett is a freelance writer for Innuity. If you would like more information about office space or office leasing go to Royal Commercial
Great Deals in the Market on Office Leasing in Today’s Economy
Tuesday, February 24th, 2009The economy is indeed bleak, but that doesn’t mean it’s bleak for everyone. Business is booming for auto mechanics, cobblers and other people in repair businesses but for millions of people, it means closing up shop and applying for unemployment or perhaps down-sizing. Either way, there is movement in office leasing and openings in both retail space and office space and that means great deals for people who are looking for space. Great deals on office leasing rates too: According to Grubb & Ellis, the average retail rental rate was up 1.7% in 2007, but is showing a big decline in rental rates- some instances as low as 10%, with a forecast for even lower rates. This is good news for new businesses looking for great deals on retail space or office space.
Landlords are Adjusting to the Times
Landlords are concerned with the decline in tenant sales- everyone is affected and owners are doing their best to keep their retailers and businesses there. New tenants will no doubt have the upper hand in negotiations with landlords and with commercial real estate agents, which can result in rent reductions and other perks for new businesses. With more attractive options becoming available all the time, forecasters believe that overtime, the market will reverse itself and with so many people taking advantage of attractive lease terms, potential tenants will correct the supply and demand discrepancy.
New Tenants Take Advantage of Other Move-In Deals
Commercial realtors can sweeten the deals on many office spaces by enticing tenants with move-in specials like:
- Fresh coats of pain
- New carpet
- Deals on cubicles
- First month free rent
- Deals on cleaning services
It’s a tough time for so many people who are losing their business or jobs but the silver lining for a lot of other people is the golden opportunity to start a business and take advantage of great rates, or downsize into a less expensive office space as well as take advantage of first rate deals on move-in specials. As with everything in life, what goes up must come down, so too will the economy and commercial real estate options.
About the author: Melissa Peterman is a web content specialist for Innuity for more information regarding office space or  office leasing Go to Royal Commercial.
Negotiating in Office Leasing, the Perfect Office Space
Monday, February 9th, 2009The office space that you work in every day is one of the largest expenses for your company. One way to control this cost is to shop around and utilize some simple negotiating skills to get the best  office leasing option. If you can take some time to get yourself into a good lease you could save your company enough money to make a very big difference.
No office lease is standard so you need to negotiate with each one. The term of the lease is one of the first concessions when you are negotiating. Your needs may change over time so keep this in mind when thinking about how long you want to stay in the same location. Also think about how much space your office has available. Make sure that you have enough room to grow if necessary. You may also want to consider getting the option to renew your rent at a fixed predetermined price. Think about the time you will need in the space but also about the time you may want when your lease is up.
Look into what the landlord charges for the extras. Some of these items may be maintenance, HVAC, general operating costs, repairs, improvements or replacements. Some leases may require that you return the office to the condition it was in when you first moved in. It could be to your benefit to get a cap on the amount you are charged for all the extras because they can add up rather quickly. Improvements in the space may also require their buyoff so make sure that you understand what the lease says regarding their approval to change the space.
Unfortunately, you can’t generally negotiate a lease with a fixed rate over a long period of time. Usually there are annual increases based on a specific percentage. Perhaps you can negotiate how many years it is before this kicks in or think about asking if you can get a cap on the amount of the increase or maybe a set amount each year rather than a percentage.
Think also about the flexibility you may need in your space if you think you may need to undergo a merger, reorganization or subletting. There are so many things that could change in the years to come and it is important to consider all the options when signing your company up for a new lease. This can really make a difference in the future.
Negotiation will be the key to success when getting locked into a lease for your company. Take the time to study up on some of the areas that you can ask questions. Study the fine print so that you know all the options you have in the building and with your office space. If you are locked into a lease for 5-years you never know what might happen in that time. Plan ahead – project where you think you might be in that amount of time. Look into how you might grow and change so that you can predict the best lease possible. Don’t be afraid to ask for what you want – you might just get it.
About the Author: Rebecca Beckett is a freelance writer for Innuity. If you would like more information about office space or office leasing go to Royal Commercial.