Definition: A space you lease for the selling of goods to consumers
When it comes to business, retailers have one overall goal: to
sell merchandise. That's why they focus on sales floor space,
adequate parking for customers, and an overall image that draws in
customers. Of secondary interest to many retail operations are
office space and storage requirements, since most inventory is on
the sales floor.
A retail operation's space is usually subdivided among display,
office, and storage. As a rule of thumb, office and storage spaces
take up 10 to 25 percent of the total floor area. While the storage
and office spaces are important parts of any retail operation--to
handle shipping and receiving and related chores, to take care of
paperwork, and to store extra inventory--you want to get the most
out of all space that's not used for display and sales. Here's
where good organizational skills come in handy, along with shelves
and cabinets and anything else that helps you maximize your space.
If you're not an organizer by nature, hire someone who is. Look in
the Yellow Pages under "Organizing Services--Household and
Business."
Retail space comes in a variety of shapes and sizes and may be
located in free-standing buildings, enclosed malls, strip shopping
centers, downtown shopping districts, or mixed-use facilities. You
will also find retail space in airports and other transportation
facilities, hotel lobbies, sports stadiums, and temporary or
special-event venues.
Got a retail location? Ask yourself these questions to make sure
your store has the "eye appeal" it needs to keep customers coming
back:
- Are your shelves clean and neat? Is merchandise displayed so
people can see it easily?
- Is the area around your cash registers or terminals clean and
orderly?
- Can you find forms, packaging and related materials quickly and
easily?
- Are light fixtures clean, bright and working properly?
- Is there plenty of room between counters and shelves so that
aisles are wide and free of barriers?
- Are glass surfaces clean and floors vacuumed or swept and
scrubbed regularly?
Keeping an eye on these factors will help create a welcome
environment for your customers.