9. Prepare for Retail Development
Execute retail leasing and construction.
Modules:
Lesson:
IX.a. Introduction to Retail Development
Get the tools to grow your startup into a brick-and-mortar operation.
Lessons covered in this module:
Retail Leasing: Sections IX.b.1. - IX.b.9.
Retail Construction: Sections IX.c.1. - IX.c.9.
Lesson:
IX.b. Retail Leasing Overview
Prepare for the leasing process and secure a commercial space that provides an equitable value exchange for your investment.
Lesson:
IX.b.1. Outline General Retail Specifications
Define how you want your business to look and feel in a retail location.
Lesson:
IX.b.2. Outline Technical Retail Specifications
Define the use, zoning, size, and costs appropriate for your business to serve as a good fit in a commercial location.
Lesson:
IX.b.3. Identifying and Selecting Properties
Identify prospective commercial homes
Lesson:
IX.b.4. Preparing for Site Tours
Arm yourself with a professional portfolio. Get proactive tips about conditions that could present a problem for your business later.
Lesson:
IX.b.5. Execute Property Tours and Analyze
Assess properties and compare lease agreements.
Lesson:
IX.b.7. Consult with Licensed Professionals
Building assessments and commercial leasing can get tricky. Always seek help from certified and licensed individuals to navigate the process.
Use the RFP Letter Template below to contact a Tenant/Buyer Agent who can support your process. Need help understanding RFP's? Visit Module 6 on Professional Services to learn more.
Lesson:
IX.b.8. Reconcile Plans and Budgets
Include retail leasing costs in your budgets and projections. Assess your intended investment to ensure your selected space is in alignment with your goals, plans, and budgets.
Lesson:
IX.b.9. Next Steps
Let's get ready for your commercial buildout.
Lesson:
IX.c. Commercial Construction Overview
Procure general contractors and execute a commercial construction project in a retail space
Lesson:
IX.c.1. Identify Commercial Construction Needs
Envision the final look and feel of your retail space. What is needed to take your space from its current condition to retail-ready?
Lesson:
IX.c.2. Scope the Construction Work to be Completed
Help your contractors get a head start on your build-out project by providing an overview of your construction needs.
Lesson:
IX.c.3. Locate Contractors and Request Proposals
Search for certified and licensed contractors who can help you execute your construction project.
Lesson:
IX.c.4. Evaluate Proposals from Contractors
Evaluate your contractor's expertise and capacity to see your project through.
Lesson:
IX.c.5. Consult an Attorney
Hire the legal help you need to review proposals and negotiate
Lesson:
IX.c.6. Reconcile Plans and Budgets
Revisit your budgets and projections to ensure alignment with your spending goals and vision
Lesson:
IX.c.7. Next Steps
Get going with an action plan. Get the resources you need to execute your development plans.
