There are many who think that the best place to open a retail business is in the biggest metropolis in the US, which is most likely New York City. They are of the opinion that NYC is where the big money is because of all the tourists, businessmen, and residents themselves that all come to shop.
However, it is important to note that there are a few tremendous downsides in renting business space in New York City.
The first thing that comes to mind is the rent. In order to have a retail store in Manhattan, NYC the one has to pay an astronomical price for rent. The average cost of rent on an average avenue in Manhattan is anywhere between ten to twenty thousand dollars a month, depending on size.
A major cost that also needs to be factored into the equation is the cost of electricity. Most likely, the cost of electricity will be anywhere from two to five thousand dollars every month. Con Edison makes you think twice about renting retail space.
In summation, this practically means that before even a single purchase is made, the first month already demands at least twenty thousand dollars just for mere existence. Such a figure is a bit scary and should get every retail owner thinking, is this 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 has plenty of tourists that come to visit every year, and there are also a large number of businessmen that come to Florida, South Carolina, and Georgia as well, and when combined together with the citizens that live there, the southeast can be a fantastic retail business location.
Moreover, besides for the incredible traffic that will flow through the store, the rent is significantly cheaper than New York City. The same store in New York that would cost twenty thousand a month would cost five thousand a month in the southeast.
Electricity is also significantly cheaper and will therefore relieve a large burden from the store owner. While it is true, that the products sold will be for less as well, it is important to factor in all of these possibilities and to weigh the equation regarding moving your business to the southeast.
Carlton Affeck is an experienced southeast retail space real estate authority. For more details about the amazing opportunities in Florida retail space view the Century Retail website online. Carlton is an SEO specialist based with SEO services group ClickResponse.
categories: Atlanta retail space,Florida retail space,Orlando retail space,commercial real estate,real estate
