We recommend that our customers conduct a competitive analysis of the surrounding area before renting a store. Our research and retail team will be happy to assist you with this. It is advisable to inquire about planned new openings in the surrounding area.
Even if direct competition within the same building can be ruled out by contractual clauses, there is still the possibility of competing businesses setting up in the immediate vicinity.
In addition, the retail property to be leased should be examined more closely. The previous owner or tenant is best placed to assess the advantages and disadvantages of the retail property in question. It may therefore be worthwhile to ask them about their experiences at this location—they may even be able to point out one or two aspects that were not considered in advance. If the previous operator is not available for a discussion, talking to neighboring retailers can reveal interesting information.
Since passers-by are so important for retail, scaffolding or difficult access can significantly reduce a business's success. Interested parties should therefore find out in good time about any construction work planned on the property itself, but also on surrounding buildings or streets. Nothing is worse than street or facade renovation work directly before or after the store opening.
