You might have heard the terms “retail space” and “commercial space”, but do you know the difference? Before you enter the lease system, you need to know the difference and what each space can mean for your business and its value.
Retail Space
Retail spaces are recommended due to a large amount of foot traffic. Sometimes they are located near stores – such as grocery stores which help to increase your presence and visibility in the market.
While looking into retail spaces there are a few aspects that you should keep in mind:
Parking: Is there ample parking for clients and customers? Will there still be enough available spaces?
Accessibility of area: How customers and clients can access the parking lot and building? Is that located on a busy street, but how can they still enter easily? Or, is the traffic simply impossible to manage?
Visibility in Area: This is twofold. Where can you show your business name? Additionally, those passing by see your business? If the answer to either of these questions, even both, you should consider looking at other spaces as well.
Commercial Spaces
are good for businesses that need separate cubicles into a reception area, offices, and conference rooms. The businesses from the employees, don’t see a tremendous amount of traffic
They are typically centrally located, making it easier for employees who travel.
Before you lease commercial space, check the following
Clients and Customers: Does your business have frequent clients or customers coming in? If not, then a commercial space would be best for you.
Your Business: For your type of business, does space matter? Does your business grow when people coming in throughout the day and making a purchase, scheduling service, or is your business more of an office setting with clients sending you emails or calling throughout the day with their needs?
Now that they are equipped with knowledge, the decision should be easier to make.
