While the quality of the cuisine might be No. 1, the location is still high on the list of factors that can make or break restaurants. As Harold Samuel famously stated in 1944 when founding the property company Land Securities, “Location, location, location.”

Whether your focus is fast food or fine dining, identifying the ideal spot for your establishment is vital to ensure lasting success. If you’re wondering how to find restaurant space in Florida, here are some recommendations from commercial real estate and culinary industry experts to help you find a site that makes sense for your burgeoning business.

1. Calculate your budget.

Before you start your search, it’s essential to understand your expected expenditures. Restaurant Real Estate Advisors state that your total occupancy spending (including rent, insurance, property taxes and other fees) shouldn’t exceed 6 to 10 percent of your projected gross sales.

2. Consider traffic (both vehicular and pedestrian).

When evaluating potential spots for your dining establishment, it’s vital to assess traffic levels before committing to a lease. You’ll have a much easier time bringing in business if a substantial number of people drive or walk past the location every day, according to the Lightspeed article “10 Best Practices for Picking the Perfect Restaurant Location for your QSR.”

3. Confirm that the area is zoned for restaurants.

Prior to renting or leasing space for an eatery, you must verify the proper zoning, according to the Chron article “How to Find a Building to Open Up a Restaurant.” If the site isn’t zoned for restaurants, you might be able to obtain a variance; however, there’s no guarantee.

4. Research the competition.

Before committing to a commercial property, you must also consider the competition, according to the Chron. For example, you don’t want to open a falafel shop in a shopping center that already has a Mediterranean restaurant.  

5. Avoid areas with high turnover rates.

There are some locations where restaurants tend to fail at high rates. Ask residents and business owners about the property to find out if it has a high turnover rate, as Lightspeed recommends. If the neighbors confirm many have struggled to succeed in that spot, it’s best to look elsewhere.

6. Conduct demographic research.

To determine your odds of success in the area, you’ll want to dig into demographics such as age, income level and family structure, according to the Chron. For example, if you dream of opening a family-friendly restaurant, you don’t want to set up shop in a region inhabited mainly by childless individuals.  

If you want to find restaurant space in Florida, the Avalon Suncoast team would be happy to help with our commercial real estate services. Our real estate brokers can handle everything from needs assessments to closing.

Start today by calling 941-235-7474 or emailing sales@avalonsuncoast.com to chat with our team of real estate experts.

The post How to Find the Perfect Spot for Your Florida Restaurant: 6 Essential Tips    appeared first on Southwest FL Real Estate.

There are plenty of strategies you can deploy as a property owner to make the space more appealing and pique the interest of prospective renters. Based on our team’s process for filling vacancies and other expert sources, here are some ways to boost the popularity of your Southwest Florida commercial property.

1. Spread the word.

Determine your target market and utilize digital channels and direct mail to notify people who might be interested in the vacancy. If you work with a real estate firm like Avalon Suncoast, we can also raise your property’s profile by featuring it on our website.

2. Identify your key selling points.

What makes your commercial property stand out? Maybe it has tons of convenient parking or is adjacent to other popular local businesses. You can even work with local gyms, cafes, and restaurants to see if they’re willing to offer discounts to your tenants, as suggested in the PropertyTalk article “4 ways landlords can attract new tenants to their commercial property.”

3. Ensure your property looks its best.

A well-maintained and attractive-looking property will attract more tenants, PropertyTalk states. Our team can help with property management and development services, such as construction, renovation, parking area maintenance, and landscaping.

4. Add security and reception services.

Depending on the area and your tenants’ hours, features like a security system, bright lights, and reception services where entrants must sign in could make your property much more attractive, according to the article “Top Building Improvements to Attract Tenants to Your Commercial Property In 2022” from the workplace technology provider Booqed.

5. Prioritize energy efficiency.

Environmental friendliness is a factor for many tenants today, so going green can significantly up your odds of filling vacancies. Our team has experience with green techniques like retrofitting buildings with LED lights that will not only make your property more marketable but also contain costs by reducing energy consumption.

If you’d like assistance attracting tenants to your Southwest Florida commercial property, the Avalon Suncoast Realty team can assist you. We have experience turning vacancies into opportunities. Explore our services today by calling 941-235-7474 or emailing sales@avalonsuncoast.com.

The post How to Attract Tenants to Your Vacant Southwest Florida Commercial Property appeared first on Southwest FL Real Estate.