HOW TO GET THE BEST COMMERCIAL SPACE?
Choosing a commercial space like a bank or a place to eat is not an easy task. Unlike what people may think, do not just go and get whatever you find. There is a scientific approach to this process and unfortunately, this approach is not applied more often in Egypt. It is not just the space area and you have to be aware Of the type Of and know Which d ass they belong to aware of the type of customers and know exactly which class they belong to.
There are many steps to be followed. First: identifying the places and locations that are possible for a chain of large branches to open for the first year like Mohandeseen, Zamalek, Heliopolis, or Maadi. If we started in the Mohandeseen for example, you have to know the streets and select one based on the customers you target. You will want a fancy street or a crowded street so that people can see try to choose a place in the corner, as they are always visible to one’s eyes, the standards that you work on are Visibility and Accessibility to Customer and Capacity.
- First of all, the visibility, it has to be visible from every angle and preferably on ground level, so that the sign can be visible.
- Secondly, is accessibility, which means being easy to reach and to find. Being on a Corner has been easy to accomplish before, but now it has become a difficulty, as it is impossible to find a free corner in Egypt.
- Then, comes the capacity or the space area. Unfortunately, we are a bit ignorant when it comes to this point. You might want to buy a 300 meter area, but someone tells you he can get you a 600 meter area for the same price of 300 meters.This might sound like a good deal, but you have to take consideration that you will have to construct, finish and air conditioning an extra 300 meters. You will find extra space that will cost you more than you planned and you will not benefit from. If the space area is smaller, especially if it is a restaurant, everything will be clustered and you will not have enough space to move.
Now that you have chosen the street, say you have two corners. To compare between them you have to think which one has better shops and location. Also, think of the traffic flow, to calculate: there is something called “Decision logic & Decision criteria.”
Decision logic is to see the visibility, accessibility, and capacity of each property and then start grading them. When you choose the place, you have to have Someone who knows how to deal With districts well to review the authorizations; so that you do not choose a place then be left with incomplete papers. Next, you talk to the owner of the place. The most important thing that you have to know about before buying or renting is not saying your company’s name because of the “New York Strategy”, which means if the owner finds out that you are from a big company, he will raise the price.
When you ask yourself “Why am I taking this place?’ Here Comes the decision logic that is what has convinced you to take this place. DO not forget to think of the place and its merits, shortcomings, the percentage of the population overcrowding in this area, and the number of companies or banks that can come to your place. Then, you go to the location and calculate the number of cars and pedestrians passing by on weekdays and weekends. The commercial space you are buying is a project, so you have to study it thoroughly before you decide. You also have to weigh up your cost and profit!