For most kinds of business, your location is very important. At Tomarchio Enterprises, we’ve been helping business owners find their perfect retail spaces in Maryland for a long time, and we can help you too. We wanted to take some time today to talk about just why choosing the correct location can make or break your business.
What Other Businesses Are Nearby?
When choosing a location for your business, you need to think about what other businesses surround it. Are there any competitors? Unless your goal is to hurt your competitor’s sales, you likely want a location far enough away from them, or else you could see your own sales driven down. Any complimentary businesses? You’ll want as many complimentary businesses nearby as possible.
Is The Space Move-In Ready?
Are you looking for a spot that’s ready to move-in? Or do you want to design the layout yourself? This is something else you need to think about when scouting a location. This can also be something you discuss with a realtor, and will help them find your perfect location!
What’s The Level of Traffic?
Usually, a location’s rent is at least largely based off the number of people that naturally pass by it. The more people, the higher the rent. This will need to be a trade-off where you decide what the correct ratio is for your business; how much traffic will you need and how much can you afford in rent.
Is the Area Safe?
Unfortunately, some communities in Maryland are safer than others, and this is a factor you need to take into account. Businesses that operate in “unsafe” areas have higher operational and insurance costs, and always run the risk of being robbed. However, your rent will probably be lower in an “unsafe” area, making this another trade-off.
Work with a Professional Commercial Real Estate Company in Maryland
Looking for your next commercial location? At Tomarchio Enterprises, we lease some of Maryland’s most premier commercial locations. No matter the kind of commercial location you need for your business, get in contact with us and learn how our team of realtors can help you!