Trying to successfully run a small business can be a nearly impossible task, especially if you don’t have the right location. At Tomarchio Enterprises, we work with a lot of small business owners from a variety of industries and wanted to take some time today to talk about a few different factors that can influence the success of local retail stores.

Cater To Local Consumers

When setting up a shop, you need to consider the community you’re doing it in and should cater to what goods and services you provide to that community. The worst feeling in the world is setting up your shop and having everything ready, only for no customers to come in. We recommend you take a deep look at the demographics of an area and ensure they line up with the demographics of your business.

Find a Space That’s the Right Size

Retail spaces come in many different sizes and shapes, and when selecting one, it’s important that you pick the space that’s right for your business. Do you need a lot of space to set up a lot of inventory? Or would a small space better suit your needs? Failing to choose the right space could leave you paying too much rent, or leave you without enough space to set things up. Don’t let this happen to you.

Advertising and Displays

Marketing is a big part of running a small business, and advertising is a big part of marketing. Do you plan on regularly setting up displays outside your shop? If so, you’ll need to ensure that’s something allowed in the space you rent. You should also take into consideration what local advertising opportunities are available.

What Utilities Will You Need?

Depending on the kind of business you operate, your utility needs may be very different. How many sinks will you need? Will you require a kitchen? Do you require a higher than normal wattage of power? No matter what your specific needs are, be sure to discuss them with the Maryland commercial real estate agent you’re working with.

Will Your Business Be Able to Grow?

Any business that isn’t growing is in trouble, and while growth within a business doesn’t always mean physical growth, sometimes it does. When choosing a retail space, you should consider how you plan to grow your business with that space. Is there enough space for you to expand? Believe us, there’s nothing worse than getting into a location, only to discover it’s not big enough a few years down the line.

Consult with an Experienced and Professional Commercial Real Estate Company

Looking for your next commercial location? Then you’ve come to the right place! At Tomarchio Enterprises, we’ve been helping small business owners in Maryland for decades. We have dozens of spaces available for rent across Maryland – perfect for your new business venture. Reach out to us today to learn about what we have to offer. We look forward to helping you and your business!