5 Things to Consider Before Building a New Retail Location
Whether your business is opening a shop for the first time or expanding to additional locations, the prospect of building a new retail location is an exciting one! At the same time, this planning stage comes with various important questions and considerations that will be key to your new location’s success. Think through these five factors as you prepare to build a new retail location.
The first factor to consider when it comes to building a new retail location is the location itself! Start with a wide lens and narrow down to more and more detail. If you already have an existing location, how far away would you like your new retail location to be? Do you have a part of town or an established area in mind? How large of a lot will your retail space require?
Two important details that will play a role in choosing your new retail location are budget and target clientele. Different areas will come with varying price tags, and it will be important to balance your budget needs and constraints with the process of creating a convenient location for the people you hope to serve through your business. For example, if you sell boutique upscale clothing, you may seek to buy a lot in a more affluent area of town near other shopping opportunities. On the other hand, if you sell home furnishings, your priority in finding the best location will likely be scoping out a large enough lot to house your inventory.
2. Exterior Design
In addition to finding a location that’s convenient for your ideal customers, making exterior design choices that speak to your brand and your intended clients will be crucial for the visibility and success of your business. Consider the tone of your brand overall. This will help you determine the right balance of attention-grabbing design and classic, beautiful material choices. Keep the appearance of surrounding businesses in mind in order to mesh well with your new neighborhood.
3. Interior Design
Inside your new retail location, you’ll have the space to showcase your brand personality to your customers. As you design the layout and features of your new location, consider the way you’ll display your inventory, where you’ll greet incoming customers, and where your point of sale will be located. Consider lighting fixtures as well as natural lighting, and think through the materials for your building’s interior. Are you looking to achieve a rustic style with wood accents and exposed brick? A modern feel with a sleek design?
If you’re expanding an existing brand, keeping some continuity between your locations can help you maintain brand loyalty and keep your current customers coming back. This can alleviate some of the decision fatigue that can occur when designing a new interior from scratch. On the other hand, the creative freedom of mapping out the interior design of a space for a brand-new retail location can be liberating and exciting.
4. Location of the Entrance
As you design the interior and exterior of your new retail location, one of the most important details to consider is where the entrance will be located. From the exterior, you want the entrance to fall somewhere convenient and obvious. Eliminate any chance of confusion for people who want to enter your store! This might require working up mockups of the parking lot or the street surrounding the new location in order to appropriately accommodate any obstacles or natural walking paths outside.
From the interior, take time to picture the way your entrance will interact with the rest of your space. Do you want a roomy entryway where associates can easily greet incoming customers? Do you need space for an extravagant display of your newest inventory? Think about the first impression you hope to give customers as soon as they enter your store, and plan the location of your entrance and the surrounding design from there.
5. Functionality of the Building
Finally, consider the features you need your new building to have. Basic features such as a restroom and plenty of electrical outlets are more obvious, but what else will your building need to be equipped with in order to afford you stress-free days in business while appropriately catering to your customers? Think about loading docks, hardware, spaces for large equipment, heating and cooling systems, elevators, and more. This is also the time to think through add-ons like sound systems, smart features, and security solutions.
Get Started Today!
Building a new retail location can be a fun and exciting phase of business! Partnering with the right construction team can help ensure the process goes smoothly and the final product satisfies your every goal. DeLeers Construction is ready to help! Get in touch today.