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tell us more Running a retail store in the digital age presents both opportunities and challenges. On one hand, digital technology has made it easier to reach customers, process transactions, and manage inventory. On the other hand, increased competition and changing consumer preferences require retailers to stay up to date with the latest digital trends and technologies. Leasing expert and Director of National Accounts Brian Sheehan share...
Finding the perfect retail space to lease can be a daunting undertaking. There are many questions: where are the good markets, how much space do I need, and how long will it take to open?
These are all valid concerns you may have. Leasing specialists at Phillips Edison & Company (“PECO”) have created this brief guide to help you find the perfect retail space that suits your business. Below we discuss 4 important points ...
What advice does a new business owner need to hear when considering leasing retail space? Here's our list of questions that any retail business owner should ask themselves in preparation of finding the perfect retail space.
Questions to ask when you are looking to open a new retail business:
Is your type of business missing in the area? Meaning, is there a need?
Is your type of business missing in the shopping center?
Who ...
Veteran business owners and new entrepreneurs alike know how important location can be to your success. Whether you are opening your first retail store, or expanding your business and looking for retail space to open additional locations, you should know the answers to these five fundamental questions BEFORE leasing retail space:
Business Plan - Do you have a business plan? This will be a good indication of your business acum...
Starting your own retail business can be scary and the wide variety of information and host of opinions and advice can get a
little overwhelming. To simplify, consider the 5 simple P’s:
Product - You need to figure out what your business is going to sell and make sure it is a quality product. Does your product provide more value than your closest competitor?
Price - Determine the right pricing for your product. You want to b...