No matter the reason or type of property you're renting, it's always important to make sure the premises, facilities, location and terms suit your needs. However, a pop-up shop presents a unique set of requirements. A short-term arrangement in a central location with space for stock is key to ensure you get the maximum benefit.
What should you bear in mind when considering Gold Coast commercial property that is suitable for a pop-up shop?
One option you have when looking for a pop-up space is making use of an area within an existing business so that you can benefit from the customers they attract. Larger shops may have space to welcome a guest, especially if what you sell complements their product. Shopping malls are often keen to allow small stalls to set up in the middle of wide walkways or in temporarily vacant shops that don't let as quickly as their other spaces. Meanwhile, public places like museums and galleries are sometimes interested if your shop is relevant to the customer base and in-line with their values.
These types of locations already have a customer base and naturally attract visitors, which makes it much easier for you to start trading and making a name for yourself from day one.
By the very nature of a pop-up shop, whatever space you organise is going to be on a short-term arrangement. Bear this in mind when searching for a property, and make sure the facilities and amenities are what you need. You don't want to spend money on decorating and installing fixtures, only to have to pay to return it to its original state in a few weeks or months.
Somewhere that already has Wi-Fi installed, as well as bathroom and kitchen facilities if required, means you can start trading almost as soon as you move in, maximising your profit.
When picking your pop-up venue, give some thought to whether you need exclusive access to the premises. If you don't, a license might be an alternative option. Where a short-term lease grants you exclusive use of the property, an occupation license allows you and others to enter for agreed purposes.
A short-term lease provides more stability while an occupation license grants flexibility for you and the landlord – great if you know you can roll with any changes as they occur without detriment to your business.
For help finding a Gold Coast commercial property that suits your short-term business goals, talk to the experts at Ray White Surfers Paradise today.