The Broad Strokes
How important is “location, location, location”? Well, 50 years ago, it was very important – but today, it depends. In today’s world of mobility, technology, and communication, location is a factor, but site selection should take into account so much more.
The Basics to Consider
What is the demographic of your proposed location? Does the demographic of your surrounding community match up with the concept and theme of your venue? Is the space you’re looking at a first- or second-generation space? How much will you need to spend in infrastructure? What other spaces are available in the area and at what rent relative to the amount of work to be done to bring your business to fruition? How much of your monthly gross revenue, will the rent make up. Are you working with a broker who specializes in the business you are trying to open?
How We Can Help
There are many variables to consider (and weigh), when it comes to selecting a site for your business – and it is more than just location and rent. We have extensive experience in renovating second-generation spaces, as well as building out entirely new space, and doing extensive research to determine how a location can impact the concept and theme of your business. We walk our clients through the pros and cons of almost every scenario related to each location you have in mind, and figuring out how to make a particular location to fit the concept and theme of your venue.