Whether you’ve been operating online for some time or you’re opening a brand new store in an urban center, throwing open your doors to the public for the first time is deeply exciting. Before that moment, though, there are some important considerations to bear in mind. With legal hoops to jump through and logistical responsibilities to get on top of, there’s plenty on your to-do list before you actually open your store. This short guide details the most important of them and how you can go about them in an organized and timely manner.
Throughout the process of getting yourself set up in a new store, you should always consult an attorney who is familiar with lease law. Find a commercial lease attorney online who can walk you through the legal and financial steps that you’ll be taking when you open a store. It might feel daunting, but a legal professional will be able to break everything down for you, showing you your liabilities while also highlighting where the site’s owner should be held to account. With this help, you can open your store in full confidence that there will be no nasty surprises lurking down the road.
Next up, now you have an attorney handling some aspects, it’s time to find the perfect site for your store. Now, this is a complicated process. You, of course, want to be situated in an accessible place where members of the public will easily be able to seek you out, park their vehicles, and trade with your business. You want deliveries to be made easily to your store too, without blocking any roads. Plus, you’ll want footfall to be consistent around your premises. All this means that there are only a few vacant plots available that you might be interested in leasing. Work out over time which is ideal for you, before taking the plunge and negotiating with the landowner.
It’s fair to say that there is profound economic uncertainty. It’s unclear whether there’s a global recession on the way, whether the housing market will continue rising or is due to crash, or whether the economy will get rosier over time. All this is to say that you should bear in mind instability when you’re negotiating for your premises. Bear in mind that you have some bargaining chips on your side, seeing as the longer the plot is vacant, the longer the owner is going without monthly rent. Work with your attorney to squeeze the very best out of them so that you’re delighted with the deal you eventually strike.
Now that you have your site leased, it’ll be time to sort that other overhead cost: the utilities that you cannot run your business without. As businesses tend to use a great deal more energy and water than domestic premises, you’ll be charged a premium for your use of these utilities. Again, though, you will be able to take advantage of competition in the market to try to uncover and secure the best deal for your business. Don’t be afraid to negotiate here and try to strike a deal that you can always renegotiate when global energy prices begin to fall. Fixed-rate prices at a time when energy prices are high should be avoided.
Transforming Your Store
With all of the administration dealt with, the exciting work begins. It’s time to kit out your store, putting your brand front and center in the window, on the wall outside, and in signage around your store. It’s also time to make your store fabulous on the inside, whether that means putting up shelves or bringing in your own unique idea of what your store should look like. See this process as a work in progress. In general, most stores reorganize at least four times a year. You can always change elements later, but this is about getting your stock into the store and your brand out there onto the street outside.
It might not be the biggest event in town, but for you, the opening of your store will be a momentous occasion. Don’t be afraid to make a little party out of it. You should consider inviting store owners from around your area, local officials, those who have helped you in your journey up until now, and of course, customers. This is a chance to celebrate and to introduce your new store to your locality.
By following the tips outlined above, you can open a new store with confidence and excitement heading into 2023.
Originally posted 2022-12-20 11:40:02.