Posts Tagged ‘retail space’

Inhabiting Retail Space: Don’t Be the Clueless Captain

Monday, July 6th, 2009

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.

Spaced Out: The Dangers of Overspending on Retail Space

Monday, June 22nd, 2009

When 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, 2009

In 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.

Maximizing Empty Office Space and Retail Space

Monday, June 1st, 2009

These days it is difficult to find a business park that is filled. Even most offices have some empty office space. Retailers are closing their doors and leaving a lot of empty retail space. Those large buildings you see left behind when a company closes – what happens to them? When corporate real estate companies build up the business park only to leave it empty, what can be done to utilize the space? Can these spaces be used in any way?

You can bet that office landlords and developers are working on ways that they can still make money even when their office spaces are not being leased out, especially in high-traffic areas. Well, the answer is clear – those big empty windows can be filled with ads. What better way to take advantage of those high traffic areas then by using advertising to reach out.

Most areas of advertising are suffering as a result of the economy; however store front windows seem to be staying consistent. Billboards are not as costly and they are reaching a high volume of people. By offering these windows for sale as an advertising billboard the landlord will be able to continue to pay its bills while offering a unique offering to people.

While it won’t cover the same costs as a retailer would or a company leasing the building, advertising can help pay the bills and they are a great way for companies to get creative too. In the past, most companies thought of advertising as just a cheap way to reach people. Cheap as in looked down upon. However, now when they think about advertising they are looking for ways to save money. Cheap as in frugal. The mindset of advertisers has really changed with the changing economic climate.

As we all struggle to make our way in a difficult economy it becomes apparent that we all need to get creative; companies are no exception. By finding ways that they can use what they have they are going to be able to successfully weather the storm. Retailers and corporate real estate owners are going to find that if they hope to succeed at all they are going to need to consider alternatives. While they can lower the rates and offer more incentives to companies, at some point, even that won’t be enough.

Enticing people to buy or lease office space is going to be difficult when most companies are still fighting fear and are doing everything they can to cut costs. However, by offering them a lower cost alternative to advertising they might be doing, a solution can be reached for everyone.

Ah, we all love pinching pennies and watching closely what we are spending and where we are spending it. However, there are some things that are necessary and for companies the necessity of getting the word out is always going to be there. However, the choices they have are going to change. By being given the option of window space advertising, the way companies look at advertising may really change. As more and more companies go online and begin to utilize more cost-effective ways of advertising, this type of advertising can really reach people. Drivers beware – soon you may be driving by those empty retail and office spaces and see much more than an empty window.

About the Author: Rebecca Beckett is a freelance writer for Innuity. If you would like more information about office space or retail space go to Royal Commercial

Politically Correct Easter and Passover Celebrations in Your Office

Monday, April 13th, 2009

When it comes to celebrating in your office space, school or even in your retail space if you are a business owner, where do you draw the line on celebrating or offending during religious holidays?

Over the years America has seen a radical switch in how holidays are celebrated in every public place. The term, politically correct in some people’s eyes has gone way too far but for others, the politically correct movement has helped Americans realize there are other people out there who have different beliefs and every right to celebrate how they choose. The double edge sword of being too politically correct or overly sensitive to everyone’s needs means that instead of accepting every culture and religion, public society has decided to not celebrate any of them openly. This can make things far more confusing than how it may have been long before the term politically correct made it so.

Here are Some Ways Your Office or Retail Space Can Still Celebrate The Time of Year Without Offending Anyone

  • Think spring! No one can be offended by the seasons
  • Pastels and polka dots are very spring and non-offensive
  • Decorate with weather, no one can deny that April showers happen, and no one can be offended with umbrella and raindrop decorations
  • Baby farm animals are born in the spring. Choosing to decorate your retail space with baby chicks and bunnies is perfectly acceptable
  • Go green! Decorate with the colors of spring. This means light greens, cherry blossoms, pink and yellows and lilac. Bring in flower pots of silk tulips or blossoms or even small pots of grass to place as displays in your retail space window or in the waiting room of your office space
  • Outdoor exercise- once the weather gets nicer, that means people are going to the park, riding bikes and even going to the beach. Think of outdoor activities as a means to decorate your office, like setting up an old fashioned bike with a basket filled with spring tulips in the window or colorful kites strung up in your office space.

You can play it safe by celebrating the weather, nature, pastel colors and outdoor activities or you could divide up the week and celebrate every day by recognizing a different religious celebration or during the holy week, create a mosaic of religious icons, spring flowers and Easter bunnies all together, displaying that your office or retail space celebrates everyone and everything about this time of year.

About the author: Melissa Peterman is a web content specialist for Innuity. For more information regarding office space or retail space go to Royal Commercial.

Making the Most of Your Retail Space

Tuesday, April 7th, 2009

Look around, are you making the most of your retail space? Where do you currently have your merchandise placed? Are you taking advantage of every little piece of room in a balanced way or could your inventory be suffocating when you don’t even realize it? Even if you have the smallest table at a craft fair or a space the size of a closet at your local mall, there are great ways to make sure you are utilizing all of your retail space in a balanced and attractive way to buyers.

Reinventing Your Space

If you are bored with your retail space, likely others who see it will be too. It’s so important in sales to act like your retail space is new and exciting every day, even though you know every square inch of it very well.  Here are some ways to reinvent your space.

  • Don’t pack it so full that shoppers cannot find what they are looking for, like being in a spice market; it’s hard to even know where to begin. It can be overwhelming to each of your senses and make you want to turn on your heel and walk out from system overload. If you make it hard for your customers to find what they are looking for, or really see what it is that you are selling, you will turn people away instead of drawing them in.
  • Are you still trying to sell certain items year after year and the same ones never seem to move? They are obviously not selling and you need to a)move them to a new location in your store, b)stop selling them or c)reinvent their image with signs, fresh packaging or sell them at an extreme discount.
  • Customers are far more likely to purchase something if they know the price right then and there, instead of you hoping they will love your product so much that they will buy it regardless of the price, or perhaps you think if advertise the price on the item it will scare people away. There are a lot of products out there and a lot of stores, customers will just move on if they have to work too hard to purchase something. The real trick is making it easy to purchase your product.
  • Clean white space is always appreciated. It looks bad to have empty shelves, but it can look really nice to have balanced white space. For example, it’s great to have plenty of open space between racks of clothes and minimal amounts of each item of clothing on each rack, with the other sizes in the back storage room, not everything crammed into one area.
  • Don’t spend more than you can to make it look good. Your retail shop doesn’t need fancy, expensive dĂ©cor and fixtures to make your products look great. Some of the best shelves and decorations are made by hand or found in the Goodwill.

Get creative and re-think your space! Once you start making the most of your retail space, you will find that you will like what you are selling a lot more and and so will your customers.

About the author: Melissa Peterman is a web content specialist for Innuity For more information about retail space Go to Royal Commercial.

You’ve got a Great Product- Now Where do You Sell it?

Tuesday, February 17th, 2009

You have designed a great product, you have a business license and all your ducks are in a row.  Besides your online store, you need to get a retail space to store inventory as well as sell your product. Before you make that move to rent a retail space, there is a lot to know.

Before You Open up Your Retail Space- Do Your Homework

Before you sign the dotted line on just any retail space, make sure you do your homework or better yet, hire someone to do the homework for you! Think realistically, if you over-commit, you could be in over your head before you even open the doors.

  • Make a list. What size space do you think you will need to start with currently?
  • How much space will you need in the future? What is your business’s projected growth?

Think About retail space Location

Many people say that location is everything. Before you settle on one particular location make sure you research each retail space you are thinking about. Here are a few things to look for:

  • What is amount of car and foot traffic in front of each retail space?
  • Find out who the previous renter was, did they do any unseen damage to the place? Why did they leave?
  • Does the rent match up with other retail spaces in the area?
  • Where is your closest competitor? If they are going to be a neighbor, perhaps it’s not the ideal location

Think About Your Audience- Where are They Located?

  • Does your location get local area traffic or just tourists or both? Depending on your product, you may want to be in a neighborhood or near a busy tourist destination.

Depending on Your Product, Could Your Share Space?

  • If you have large furniture to sell, you won’t likely want to share your space with anyone else, but if you are looking to sell your handmade scarves, you may want to look into a smaller retail space, like a kiosk or a shared space with someone else who is looking to share.

Research Restrictions Before it’s Too Late

Some retail spaces say what you can and cannot do in regards to signs, flower boxes and other décor. Be sure and find out what types of restrictions come with the retail space. Other things to consider:

  • Is there ample parking? Or bus service near your business?
  • Are you allowed to have a large sign above your business?
  • What is the maximum occupancy?

If all this seems like way to much to think about, while you are trying to work on other aspects of your business, you can hire a commercial real estate agent who helps small businesses find what they are looking for in regards to retail space.  Hiring a professional to help you find a retail space could save you money in the long run- they know where to look, what to avoid and how to talk terms. Plus, with someone who knows about commercial property, once you have decided on a place, you’ll have a connection to painters, movers and handy men once you close on a deal- and what is not to like about that?

About the author: Melissa Peterman is a web content specialist for Innuity for more information regarding retail space go to Royal Commercial.

Does Your Current Office Space Allow For Company Growth?

Monday, January 26th, 2009

Businesses move around a lot. Whether for expansion or downsizing, businesses can move a whole floor up in a building due to remodeling or take over an entire block of a downtown street. Besides your bottom line, have you considered the outcome of where you decide to relocate or the results regarding your remodeling decisions? There are several issues that will come up and should come up along the way regarding an office move or remodel.

Whether you are looking to lease or remodel one  office space, a large piece of  corporate real estate, or just a small retail space, you might want to consider a few things. The decisions you make today, will no doubt affect your business tomorrow.

5 Things Your Business Should Remember When Moving to a New Space

  • Does your new office location leave room for expansion?
  • Do you plan to hire or let go employees in the future? Depending on what your long term goals are, could affect the space you will need in the future.
  • Is location really important for your business? Otherwise, you could pay less for office space in a less obvious location.
  • Could you save money by merely getting new cubicles and desks and a fresh coat of paint and carpet inside of signing a new lease elsewhere?
  • Never underestimate parking spaces. Whether for employees or for customers, besides great location, without parking, how can people come to your business?

Know that what ever big or small plans you decide to make, an office move is time consuming, disruptive and sometimes expensive. Do your research and you may find that a corporate real estate agent you are looking into also knows movers and possibly a good deal on used office furniture. Looking for the right agencies out there that are experienced and fast at moving offices and have remodeling connections will save you and your company money as well as headache in the long run.

About the author: Melissa Peterman is a web content specialist for Innuity For more information regarding  corporate real estate, office space or retail space