Whether you’re a start-up retailer looking to set up shop, or an established franchise expanding into a new branch, there’s a lot to think about to give your business the best advantage in a competitive market.

When choosing a retail store location, there are a few key considerations to make, from customer base and footfall to the facilities and leasing terms of the retail space you’re looking to rent.

Here are our top tips to consider when retail store location planning:

Location

The obvious place to start, where are you going to rent retail space? Since the advent and growth of online retail, high street shopping has had to adapt to the change in customer behaviour – yet many astute retailers are finding great success by locating their brands near key transport hubs in major cities around the UK.

Retail businesses taking space within our managed train stations, particularly those with food and drink offerings, are experiencing significantly higher growth compared to those on the high street or in shopping centres.

Footfall & Visibility

Another clear consideration when choosing a retail store location is how well situated your business is for high footfall. It’s easy for pedestrians to pass straight by retailers on the high street, yet transport hubs act as a first and last port of call for many city visitors, often serving as a key location to grab a morning coffee, a midday bite to eat or even a last-minute gift.

Train stations boast an impressively high footfall year-round, whether it’s people commuting for work during the week or those visiting the city for leisure over the weekend. In our 19 stations alone, over 750 million passengers pass through each year, every day, from dawn til dusk.

Surrounding Tenants & Competition

Businesses should carefully consider the mix of other retailers in the vicinity of where they’re looking for retail space to rent. How many competitors with similar offerings are located nearby? Is there an unmet opportunity for the products you offer? Are there adjacent shops or services that might even complement your business? A café may be well served to rent retail space next to a bookshop, for example.

At Network Rail, we conscientiously evaluate market conditions to avoid oversaturation and focus on finding the most strategic locations to help retailers who choose to partner with us position themselves for success.

Facilities

Beyond what the retail store location has to offer in trade potential, it’s also important to think about the practical amenities and facilities included. Essentials such as water and electricity are crucial for daily operations, so you’ll want to ensure that the capacity required to run your business is readily available to you. In terms of accessibility, you should also be mindful that some high-street locations might require costly reasonable adjustments.

All of the retail spaces within our stations come fully equipped with the utilities your business needs and are already fully accessible – so there’s no need to worry about a thing.

Ease of Access & Parking

You’ll also no doubt want to locate your retail store somewhere that’s easily accessible for your employees, and there are few places better connected than major city train stations. Staff – as well as customers of course – have readily available access to public transport and convenient car parking across all of our managed sites.

Terms & Incentives

Another key consideration is the service and support that comes with your retail store location. At Network Rail, we offer flexible leasing terms and are always happy to discuss scalability options as your business grows and becomes more established in the station environment.

We believe that the key to business success is working collaboratively. All retailers in our stations receive dedicated support from a Category Manager and a Retail Business Partner, providing you with unique access to in-depth market insights and decades of expertise to maximise your performance.

Ultimately, when choosing a retail store location, it comes down to fully understanding the needs of your customers, your staff and your business. Ticking all these boxes is the key to finding your ideal retail space and setting up for success!