Atlanta, GA : One of the first steps to take when you are looking to take advantage of your retail space is to engage a Retail Gap Analysis or Retail Void Analysis.
A Retail Void Analysis is a professional assessment of your retail space, one that will be able to inform you about your obligations as a landlord and your ability to continue to meet those obligations. A complete analysis of your property can help to ensure that you get the most out of your leasehold and can also work to strengthen your position if a dispute should arise. Here we will go through a few points about Retail Void Analysis and how they can help you.
Retail Void Analysis assess all aspects of your retail space. They look at tenant health and wellness, access to facilities, parking and much more. They then combine all this information into a report that gives you a comprehensive overview of what your retail site is like. The report then identifies all of your obligations as a landlord to your tenants, including those that relate to issues like the Tenant’s Responsibility code and the Retail Access code. All of this then creates a map of liability and responsibility that can prove to be very useful in future negotiations.
Retail Void Analysis are often a part of your real estate brokers responsibility. It is therefore a good idea to contact a broker to find out whether or not their service can also offer you a Retail Void Analysis. If not, always ask your broker if they can offer one, so you can truly understand the overall view of your property and location which can help you to better understand what it is you need to do to improve your prospects. Retail brokers are often particularly good at spotting good locations and often know the upside of your property that they wouldn’t share. They can also provide advice on how you can maintain a good retail value for your business while also providing access to some of the latest technology and amenities.
Your Retail Void Analysis should identify any areas that may prove to be problematic. These might include foot traffic, retail units or even retail spaces that will be too small for your prospective tenants. You may find that you have to scale down certain parts of your property, or that there are too many potential hazards for prospective tenants to safely occupy your retail space. An advanced Void Analysis tool such as RetailerPro from Atlanta based Mapzot may identify a long list of your potential retail tenants based on multiple factors. Software can easily identify gaps that would make your property ten times more valuable.
The majority of retailers who use Retail Void Analysis services close ten times more services than their other counterparts. If you are in the market for a Retail Void Analysis, you should get in touch with Mapzot directly as soon as possible. By doing so, you will ensure that the analysis is undertaken as quickly and thoroughly as possible. This will improve your chances of success, and in turn improve your profits.
There are many reasons why property owners would want to carry out a Retail Void Analysis. Some of those reasons revolve around the need to make the best business decisions possible, and improve profitability. Other factors might include the need to remain competitive within their industry, or simply trying to stay ahead of the competition. Regardless of what your reasons are for initiating a Retail Void Analysis, it is always a good idea to get started. As with all business decisions, it is important to put some thought into it beforehand.
One of the things that a Retail Void Analysis will also tell you is whether or not there are any issues with your retail space that could be causing it to become overcrowded, less desirable, or unsafe for customers. These reports can also tell you about any future trends that might be present. If there are any weak demands in your retail space, your retailing operation could suffer as a result. Retailers and property owners are increasingly relying on data-driven decision making and those who do not adopt technology could quickly find that they are unable to stay in business. It doesn’t take a lot of money or effort to run a Void Analysis report, so it makes sense to get professional help right from the start.
A Retail Void Analysis will go a long way towards helping you understand what is going on with your business. You can use the information that you gather to improve the way that you manage your retailing operations. The analysis that you receive will help to ensure that you are doing everything that you can to keep your customers happy and coming back to purchase merchandise. It is true that retailing is a complicated field, but it is never too early to start considering ways that you can improve your operation.