Why Location Matters for Your Retail Project in Singapore – 7 tips to locate your store
Location, location, location. It’s one of the most important factors when it comes to retail. Are you planning on opening up a store in Singapore and want to be successful? Then you need to make sure that your storefront is located in an area where there are high amounts of foot traffic. This blog post discusses 8 reasons why location matters for your retail project. And what types of locations are suited for different businesses!
Why location matters to commercial real estate?
When it comes to retail, location matters. Location is everything! It’s one of the most important factors when it comes to commercial real estate and can make or break a business. Where exactly your storefront is located in Singapore will determine how successful you are going to be with customers and sales figures.
This blog post discusses why location matters for your retail project and what types of locations are suited for different businesses.
Why does foot traffic matter?
Foot traffic in places such as Boon Keng MRT or Punggol interchange is an important factor when it comes to retail or marketing. It’s no secret that foot traffic can make or break a company. It determines how successful you’re going to be with customers and sales figures. The amount of people who walk by your store on any given day determines how many potential customers you have walking into your business every single hour. Which in turn will affect the success of your business or marketing activity!
Targeting the right audience for your business
When it comes to retail, location matters. You need to make sure that your company is targeting the right audience and choosing a storefront in Singapore. Where your target users will be walking past often! Choosing an area with high amounts of foot traffic is always going to help boost sales figures. Indeed there are more potential customers who can walk into your business every single hour.
Decide on a business location type
The right types of locations are essential for different companies as each one requires something unique from their retail space such as visibility, area size, or even parking options. Your storefront needs to reflect exactly what makes up your business. So that potential consumers understand why they should spend money at your place over another company. This blog post discusses different types of retail locations and how to choose the perfect one for your business!
Malls are one of the most popular places where people go every single day so they’re constantly surrounded by potential customers who could walk into their stores or kiosks at any time. Malls also tend to be located in areas with high amounts of population density. It makes them even more attractive because you’ll always have an audience walking past your storefronts on a daily basis and explore your services. It’s all about maximizing visibility when it comes to malls!
Downtown Area and CDB
Downtown areas are ideal for retailers who want to get the most visibility possible. This is because these locations tend to be surrounded by high population density which ensures that your target audience will always have a chance of walking past your storefronts on a daily basis. Downtown retail spaces also tend to have excellent transport links. Everyone in Singapore can easily reach them using public transportation or their own vehicles!
Bus Interchanges commercial spaces
Bus Interchanges are some of the most popular retail spaces in Singapore. They tend to have excellent transport links which allow everyone in Singapore to access them using public transportation such as MRT or buses or their own vehicles. It makes it easier for potential customers to visit your business every single hour even with covid 19 restrictions! You can focus on your marketing strategy and your service without having too many issues with the demand. This is also an area with high population density so you’ll always have a large audience walking past your storefronts on a daily basis.
If you’re looking for real estate opportunities, then it’s best not to look any further than corner shops and streetside stores. They provide an excellent opportunity for businesses without large budgets. But you will need to be proactive on social media to create traction. These types of commercial properties are perfect for small-scale companies. They usually want to limit their operating cost since there are no elevators, air conditioning systems, restrooms, etc…
If you’re looking to save money on rent, then home-based shops are the perfect retail spaces for new entrepreneurs. Home-based shop owners can use this opportunity to maximize their profits and expand their business across Singapore without needing to worry about paying rents every month! These types of opportunities allow retailers more flexibility with what they can offer online since there is no need for large store layouts or storage space. It makes them excellent options for small-scale businesses who want a low-risk way into real estate. Nonetheless at one point if you want to grow your venture going for a physical store is always beneficial. Even the biggest online store Amazon acquired a retail franchise Whole Food Markets.
7 Helpful Questions before renting a store in Singapore
Before you go shopping for retail space in Singapore, there are some important questions that need to be addressed first. The location of the store is incredibly important because it needs to attract your target audience and ensure they visit regularly! This blog post discusses key things businesses should know before renting any commercial property in this beautiful country.
Accessibility of the commercial space
One of the most important things to consider when renting a retail space is whether or not it can be accessed by your target customers. You need to make sure that potential consumers have easy access using public transportation, their own vehicles, etc… This means you’ll want to avoid secluded areas where people wouldn’t typically go. Because they don’t offer much exposure and limited foot traffic which makes this location less than ideal for retail businesses
The size of the commercial property plays an incredibly important role in determining how successful your business will end up being once you’ve fully moved into your new premises. Too large and you won’t fill up all available floor space with inventory which could lead to wasted costs. Too small and you’ll spend all your time running back-and-forth across the store to fetch items for customers! It’s important that a retailer knows exactly what they want before looking at any available retail space in Singapore. At Ideal Connection we believe that 20sqm in average makes a perfect size for multiple retailers.
Another thing retailers should be aware of is how accessible their rented commercial property will be once they open up shop there. Do potential consumers have easy access using public transportation or by using their own vehicles? Is it close to bus stops, train stations, highways, etc… This information about transport options can help retailers plan out which areas are well suited for them. So they and the company employees don’t waste too much time commuting on a daily basis! Without good transport connections nearby it might not make sense to open up a business here since you’ll waste too much time just getting to work!
One of the most important things for retailers to consider is whether or not there will be enough foot traffic in their area. If you’re looking at a location with little interest from people passing by, then it might not make sense to open up shop since this means low exposure which could have an incredibly negative impact on your business! You want retail locations where consumers are frequently walking past so they can become familiar faces and potential customers. They will come back regularly when needed. This makes these types of commercial properties excellent options for new entrepreneurs because they provide great opportunities without breaking the bank! There’s no need for large store layouts or storage space which makes them perfect spaces for small-scale businesses who want to try their hand in commercial real estate without too much risk!
Understanding your local competition’s strengths and weaknesses
When it comes to choosing an area in Singapore where your target audience will be passing by often, it’s important that you know exactly how many competitors are around you so that you don’t end up leaving yourself exposed to your competition. What makes them special? Are they selling something similar to what you’re offering or are their target audiences different from yours? Are you competitive?
What is visibility and why does it matter?
Visibility reflects how visible a storefront or building will be from both on-foot traffic as well as driving past. When people see your store, this could result in them walking into your shop which would increase sales by having more potential customers walk through the door every hour! Before you sign an agreement with any real estate agency, make sure that they’re showing you stores that are highly visible so that there’s no doubt that anyone who walks past can easily spot what makes up your brand! Keep reading to find out more about visibility and other factors when choosing a location for commercial real estate.
Is it safe?
When it comes to choosing a location for your business, safety is another important factor that you need to consider. The area should be well-lit and monitored by cameras as well as security guards who patrol the streets regularly just in case anything goes wrong. It can help if there are plenty of other stores nearby so potential criminals will think twice before attempting any thefts since they know they’ll easily be caught!
Final Thoughts on Why location matters for any retailer in Singapore
When you’re looking for suitable retail locations, it’s important to consider the factors mentioned above so that you can make an informed decision about where your store should be. Remember not every location is good for every business which means knowing how each area differs will help you determine whether or not they are worth pursuing! Once you know this information and take a closer look at all of these things we’ve discussed in detail, then there’ll be no doubt left in your mind when choosing rental space with commercial real estate agencies because everything will fall into place effortlessly! The most important thing is doing the research before jumping headfirst and signing any agreements since sometimes thinking twice would have prevented other types of problems from occurring later down the road which could lead to even more money being spent unnecessarily.
That’s it for now! Thanks for reading our blog post. We hope these tips help you choose the perfect retail locations in Singapore! Bye bye…