The current pandemic is slowly transforming the retail economy. With shops closing daily in Brooklyn, big chains moving out of the city centre – it’s hard to imagine how brick and mortar stores can be a profitable venture.
However, with flexible leases, government funding as well as severely reduced rents – if you are considering renting a commercial property for your business now could be a better time than ever before.
Here are tips to help you start your journey to renting a commercial property successfully:
Define your goals
By setting up a store, you need to be sure what journey your customers will take. Is the store there to sell a product, or is it so customers can ‘touch and feel’ your products before going home to purchase online?
Knowing the actions, you want your customers to take can guide you into carefully selecting the right premises and location before the opening.
Find the right location
Location is critical to the success of your store. The choice of your location is linked to your overall goal, and in Brooklyn, it’s even more important. There are many options when choosing an ideal location. From retail space for rent in a shopping centre to unused retail space in the premium area of Grand Street, Brooklyn is a diverse and immense shopping region.
You could also partner with an existing business so that you tap into an existing customer base. Make sure the store attracts reasonable foot traffic as this is key to the success of your store.
Get your paperwork right
Make sure you take care of all the paperwork before you proceed to set up your store. The reason for this is to avoid inconveniences like having the fire marshals pull the plug on you.
Read the terms of the pop-up shop lease and where possible check with the landlord to be sure what’s allowed and what isn’t. If you’re doing a mobile pop up check with the local authorities to make sure you have all the required permits.
Create an experience
The ultimate goal of setting up a store is to sell more. However, customers come to you looking forward to an experience like never before.
Therefore, make sure your store will offer them an unforgettable and unique experience that customers will not only be excited about but also rave about it. This means leaning more towards a social event than retail display. You could have a photo opportunity, contests or refreshments.
Provide good Wi-Fi
Social media is the engine of your shop. Make sure you’re setting up in retail space for rent Brooklyn in a location with fast WiFi access for your customers. This makes it easy for them to take photos and share on their social media accounts, thus creating a buzz around your store and product and brand.
Build a Buzz in before opening
It will be disappointing if you set up a shop and nobody came around. Yet this is a possibility if you set a shop but don’t invest in marketing. You’ll do well to begin by informing your best customers about your upcoming pop-up event.
It would help if you also had to contact local members of the media and social media influencers in your space. Focus on spreading the word using social media channels so that your store goes viral.
Connect with customers
Once you have opened your shop to the public, do not only focus on selling your brand. People love making connections so strive to make connections with your customers.
The general trend is that your store will often attract many first time visitors. You can engage them and get them to sign up to your mailing list so that they begin receiving marketing messages. You could also ask them to follow you on your social media platforms.
However, this will require you to have enough staff to interact with customers and collect vital information.
Remember, the idea is to create meaningful relationships you can build on.
High street stores help businesses to focus on the moment. That is, being in the right place at the right time, offering customers an unmatched experience.
Even then, there’s a lot that goes into making sure your retail space for rent Brooklyn a success. You must be willing to invest time and resources in planning so that you achieve the results you desire.