Basics of Property Management: Screening Potential Tenants

Tips For Choosing A Retail Space For A Toy Store

6 October 2016

Jesse Obrien

Shopping for real estate that will be the perfect retail space for a toy store can get overwhelming at times. After all, many factors must be considered before making that final decision. You want to appeal to kids and adults alike with your toy store, and that also means it needs to have a convenient location where parents will want to bring their children. The following tips can help ensure that you are selecting the ideal space that brings your target consumers of parents and kids right to your front door.

Choose an Untried Space

Never try to set up a new toy store in the same space where one just failed. Keep in mind that it probably failed there for very good reasons. While some of that may be blamed on the old store or how its management conducted itself, you still wouldn't want to be associated with a store that treated parents or kids with anything less than respect. Instead, try to choose a new space that hasn't yet been used as a toy store before.

Choose a Space with Heavy Foot Traffic

Retail space at malls used to be expensive because they brought a steady stream of customers right to the individual shops each day. Now that malls are dwindling in popularity, most retail space is more independent or set up as part of an outdoor shopping center. That can do the same trick of bringing customers right to your door as long as you choose a strategically placed retail space that is in easy view of customers you're hoping to attract. For example, a shop that's in view of a miniature golf business or another kid-friendly company can help business, but keep in mind that other companies can close at any time. Don't base your decision for a retail space entirely on its proximity to other businesses.

Choose a Space with Plenty of Parking

Unless you are in a place with a plethora of public transportation options that are frequently utilized by a healthy percentage of the population, you need to make sure that your retail space is near plenty of parking. A parking lot that's shared with other businesses who service your target audience can be a win-win situation for all parties.

Finally, keep in mind that the ideal choice won't be perfect. It just needs to fulfill all your needs and also offer that extra quality that makes you spark to the space. When you have that and are prepared to do the work to make your retail place stand out for consumers, you are setting your shop up for success.

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