OPENING A RETAIL STORE - 3 Things to Know about Site Selection

Julie Baudhuin | March 8, 2017

The construction side of opening a retail location, whether a store, spa or doctor’s office, can be a daunting task.  There are literally thousands of details that have to be attended to in order to ensure a smooth and on-time opening. 

However, with a knowledgeable and experienced partner the construction process can be relatively painless, and can allow you to concentrate on all your other to-dos before grand opening.

With this in mind, below is a list of a few things to be aware of during the site selection process.

  1. COLLECTING EXISTING SITE CONDITIONS IS REALLY IMPORTANT

Actually, this is probably the most important part of the entire construction process.  This information sets the stage for negotiating a favorable lease, and identifying a comprehensive list of site improvements needed will help you stay within budget and avoid cost over-runs and delays.  Armed with a list of improvements, you can negotiate Tenant Improvement (“TI”) money from the property owner.

  1. YOU MAY NEED AN ENGINEERED SITE SURVEY

An Engineered Site Survey is an onsite inspection to measure your location for design and layout, and to verify the plumbing, electrical, HVAC (heating, ventilation, and air conditioning), and structural elements.  This information is important, because designing around these items can save considerable cost.  Also, architects use this information to verify any obstacles and make sure the builder has accurate information.  For these reasons, if detailed mechanical or “as built” drawings are unavailable, or the site is second generation or older, we recommend an Engineered Site Survey.

  1. USE THE SITE INFORMATION TO NEGOTIATE A BETTER LEASE

On the basis of site inspection and surveys, you may find that the site requires demolition work, re-wiring, or other modifications.  Once you have this information, you can negotiate with the property owner for site preparation and Tenant Improvement (“TI”) funds.  Getting this part right before you sign a Letter of Intent (LOI) can save you lots of time, money, and hassle.

Next Up: Using an Architect and Acquiring Permits