Njgirl, Other/Just Looking in Williamsburg, Brooklyn...

My partners and I are planning to rent space to open a store on Kent St, under one of the new highrises. Good idea?

Asked by Njgirl, Williamsburg, Brooklyn, NY Thu Oct 1, 2009

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HiNJgirl,
I do not know the highrise or the town, but feel I like to mention something, which has little to do with the location and building itself, for that a local Real Estate Agent, may have some more specific and detailed answers for you.

But just generally speaking, when opening a store (And I have done that myself in my area at one point in my life, so I know a little about it!) there are several items that are very important....

Traffic, i.e. how many people pass by the store (high rise you may think plenty, as they are living right there and in that respect you may be right)

What are you selling? Explore the neighborhood, look if there is competition in what you are offering as
product!

Can you be competitive? In other words look at the rent, insurance etc. that this particular location requires, and then look how you have to price your product or services in order to come out with a profit at the end, and once you have determined that test your pricing with surrounding similar stores' pricings, in other words will you be able to be competitive....

I know this is just general information, and hopefully some one from your town who knows not only the building but also the area will be of help with further input!

Good Luck to you! Hooray for entrepreneurs and the courage to start something new!
Edith Karoline - YourRealtor4Life!
Working always in the very BEST interest of her clients
Your Chicago/Northern Illinois Connection and worldwide real estate services
EdithSellsHomes@gmail.com
0 votes Thank Flag Link Fri Oct 2, 2009
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