Building a New Store: Top Tips to Get it Done

It is exciting and challenging to open your own retail store, but the construction phase is one of the most important parts of this process. When it’s well planned and well executed, you will end up with a retail store that is attractive to potential customers and is run well with a slew of employees who are happy to work with you.

If your construction project is well planned, you’ll be able to ensure that you have a functional space ready for customers to come in and shop around. 30% of new retail stores fail within the first year, and usually this comes down to poor planning, a lack of traffic engineering And issues when it comes to parking. To avoid this, you need to consider certain factors during that construction phase and these include the following.

1. Consider your location. Choosing a suitable location is the very first step in your retail store construction. You want to attract your customers, boost your sales and research neighborhoods where your target audience is shopping. You have to look for high foot traffic, areas with easy access and nearby competitors that you can compete with. The spot that you choose should align with the identity and the mission of your store, and once you’ve thought of a location, that’s when you need to speak to the experts in traffic engineering, parking and construction services.

2. Make sure that your design plan is a solid one. A design plan that is well thought out is an essential for your retail store. You have to work closely with professional architects or retail construction services to create layouts that maximize your space. The design should include customer flow and checkout areas, and you should consider the outdoor space too. Where are your customers going to park and how long will they have to do so? Consider how your customers are going to feel when they walk in the door and go through your store plan as if you were a customer.

3. Learn more about building regulations. Every city has specific building codes and regulations that you have to follow. These codes cover safety, accessibility, and structural integrity, and you have to follow them too. Work closely with a retail construction services company and ensure that you can navigate these requirements to make the construction process a smooth one.

4. Work to set a realistic budget. Budgeting is a must when you’re opening a new retail store. You have to cover all construction costs, including labour, permits and materials. Always be prepared for any unexpected expenses though, because these can arise during construction. Having a contingency fund is a smart idea, and you can work with a construction team to get the right estimates for your project.

It takes time to open a new retail store and there are many steps in the process, especially during the construction phase. When you choose the right location and create your design plan, you get your beginnings. Partnering with a reputable construction company is a good first step because then you won’t miss any pieces of the puzzle.