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Are you considering the purchasing of an existing store that's open and operational, the purchase of retail space to open your own store, or the purchase of retail space as an investment? "Buying a store" could mean several things, and the "right" answer requires the right interpretation.
For example, if you're talking about the purchase of an existing store related to the business in your profile (home theater systems), you might expect 40 percent of your annual sales to occur in the fourth quarter from holiday and pre-SuperBowl purchases. If it made sense to buy the store at all, sooner would seem better than later. On the other hand, if you're looking into the purchase of a commercial property as an investment, it may be better to wait.
If you could provide a little clarification, I think there are several people in this community who would offer you some good advice.
I like Lighthouse's answer to you. We need more input and infomation.
Like how soon will you be purchasing this business??
What are your backgrounds?? Have you ever owned or worked in retail??
Have you done your homework?? Are you familiar with the products you will be selling??
Did you write a BUSINESS PLAN?? Do you have the FUNDS??
It is always a good time to purchase if the price is right and or the location is right.
Will there be construction to the store?? or will you just take it over??
What will change in waiting a month or so??
Good luck, LUCKIEST
Buying a commercial retail store in a shopping Mall, strip Mall will not be effected tat much. The major effects will be on what type of store this is? If it is related to home related business. Then certainly it is not a good time to buy it. But if the store is about business need and other items then chances are it will not be effected as bad. The things to watch before you buy are:
- Type of lease if it is rented.
- Duration of the lease.
- Check from City the growth potential of the area.
- Sorrounding of the etail store( traffic, foot trafic, access, visibity)
- Good marketing, Finance and business pan
- Good management team.