Leasing the right commercial property for your candy store's specific needs is important. It is important to make sure that you take the time to find out specific statistics for an area before you agree to lease a property. Use the following guide to learn what statistics can be essential for you to know when leasing a commercial property if you plan to open a candy store.
Number of Local School Age Children
Candy stores often thrive thanks to school age children that live in the area. Many children love candy and parents will often buy their children a sweet treat as a reward for doing something well. Candy is an affordable reward that families of just about any income can afford from time to time.
Average Annual Family Income
You want to be sure that you locate your business in an area where the average annual family income is above the poverty level. If you start your business in an area that is poverty stricken, not many people will be able to afford to buy your candy on a regular basis. In order to have a successful business, your company will rely on people buying candy every day. Choose a location that is situated in an area where the annual income is near the middle income bracket or higher.
Local Business Annual Income
Take the time to find out what the other businesses bring in each year. This will allow you to determine if they are succeeding or not. If many businesses have open and closed within the past year in the area where you are considering a lease, you may want to reconsider that decision. You want to open up shop in a business where other businesses have had great success to ensure that your business has a good chance of success, as well.
Number of Local Candy Sellers
Finally, you need to find out how many other candy sellers are located in the area where you are considering a commercial lease. You do not want to open a business in an area where there will be a lot of competition. Choose an area where there are no or just a few local candy sellers with which you may have to compete.
Once you take the time to find out this information, you can rest assured that you (and your agent, like those at Goodnow Real Estate Services) are able to find the right location for your business. You want to have a business that thrives and being sure that there are plenty of children and successful businesses in the area will better your chances of having a successful business.