Many are of the opinion that the best place to open up a retail store is in the biggest metropolis in the US, which would most likely be New York City. They figure, that the big money is there because that is where the most tourists, out of town business visitors, and the citizens themselves come to shop.
However, it is important to make note of the fact that there are quite a few downsides to owning a retail store in New York City.
One of the first and most important things that comes to mind is the price of rent in NYC. If one needs to rent a retail space, the price range will most likely be anywhere in between ten to twenty thousand dollars a month, depending on the size of the store.
Another major cost that needs to be factored in is the cost of electricity. Con Edison, the NYC electricity company will make sure that you consider very will before you move in, because the average electric bill for such a store is another two thousand dollars a month, approximately.
This means, that before a single sale was even made in the store, it probably costs the average store around eighteen thousand dollars a month to even be in existence. These figures are astronomical, and even for a businessman who can afford it, is it really worth it?
This question is the kind of question that every business owner must answer himself. Perhaps another option is a valid possibility as well for a retail business.
The southeastern part of the US can be a fantastic place for a retail business location. Plenty of tourists visit every year together with business people who come in for numerous conventions and the like, and when combined with the citizens that live there, it is very likely that a retail store will have a fantastic clientele.
Besides for the heavy traffic that will fill up the store, the cost of rent is significantly less than that of New York City. In fact, it is very possible to find a decent retail store location in a tourist area for around five thousand dollars per month, depending on size, of course.
Electricity is also far cheaper in the southeast than in NYC. Even though products sold will probably be for less as well, the products will not be that much cheaper. It is important to weigh out the equation and to consider moving the retail business to the southeast.
Carlton Affeck is a professional southeast retail space real estate agent. For more details about the amazing possibilities in Florida retail space view the Century Retail website online. Carlton is an SEO consultant working with SEO services group ClickResponse.
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