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Opening a retail store can be a quite formidable task when you don’t know where to begin. Well, the very first thing you should learn is what are the best places to open a retail store in NYC. Sometimes this can be complicated to know because people don’t know where to begin with their research. Luckily, we are here to help you out with your business plans. Today, Movers NYC will help you out and guide you with our list of the best places in NYC where you can open up your store. All you need to do is to follow our guide, and you will be ready.

Make sure to know what are the first steps when opening a retail store in NYC

Before you even begin looking for a perfect place to open your store, you need to know what steps you need to take. That includes making certain plans and finishing up important paperwork. So, what you need to have in mind is the following:

  • Make sure to have a proper plan – What you need to understand is that you can’t open up your store without knowing more about the industry, having a good business plan, marketing ideas, etc.
  • Registering your store – This is very important to remember because that way you won’t have any legal issues. This includes choosing a legal structure, business registration, applying for EIN (employee identification number, registering your store as a sales tax vendor, seeing insurance options, and others.
  • Make sure to know how to finance your business
  • Hiring a team of people who can work for/with you
a person signing papers before looking for the best places to open a retail store in NYC
Before you look for the best places to open a retail store in NYC, you need to finish important paperwork

These are just some of the things you need to know about opening a store in NYC. There are many details about store opening you need to know that can help you out with your research. Once you read that, you will be good to go.

Make a list of the best places in NYC that are perfect for you

When you are about to open up a store here, you would want to make a list of the places you are interested in. And that is where we come into play. We know NYC like the back of our hand, so we will tell you where you should start your retail business. Some of the best places include:

  • Manhattan
  • Chelsea
  • Astoria
  • Long Island
  • Brooklyn
  • Queens
  • Upper West Side

These are some of the best locations you can open up your business. And once you decide to move, make sure to rely on the help of our professional moving services. If you plan on moving fragile items, then our team is the perfect solution for you.

a woman browsing clothes in the shop
Take your time when looking for a place for your new retail store

Manhattan is one of the best places to open a retail store in NYC

Manhattan is a wonderful place where over 1,600,000 residents live. You will notice that there are people of all ages and interests here. That means that you can have a very diverse store here. It is a dense urban place, so you can adapt to a fast-paced way of life. In the meantime, you can enjoy some amazing parks, restaurants, shops, and other places where you can have a wonderful time. Moving here can be a good idea! And you can check what Manhattan moving services you can get from your movers. It will help you with your moving preparation for sure.

image of Manhattan
Manhattan is very diverse and you will surely have a lot of customers

When it comes to the prices of the retail spaces for rent, they can warry from $3,200 up to $110,000 a month. Depending on the location and the size of the retail store you are renting. This is a good thing to know because you will be able to properly plan your move and store opening. And who knows, if your business grows, you can easily change locations. And when you do that, make sure to do it with the help of the Manhattan moving company. They can properly move your stuff, so you don’t have to worry about anything.

People open stores in Chelsea

This is a lovely neighborhood in New York City. There are currently over 63,000 people of all ages and ethnicity. They come from different cultures and adore this place. The social life is filled with nice events, clubs, parties, parks, shops, and other places that can provide a lot of entertainment. That being said, moving here can be a great choice! Both for your business and your life as well. Contact Chelsea movers to help you out with your move. They can provide you with some of the best moving services that you might need.

Opening a store in Chelsea can be a great idea because it is a well-developed neighborhood. The public transportation is great, and the people are generally awesome. As far as the prices for retail spaces for rent, they warry from $15,000 to $45,000. As we mentioned before, location plays a huge role.

Astoria is a great place for a retail store

Astoria is one of those NYC neighborhoods that is teaming with life! There are many job opportunities, and people constantly move here from all corners of NY. With almost 83,000 residents here, they all enjoy living in Astoria. There are many places you can go out after the move, spend a day having a great meal, and plan your upcoming store opening. It is one of the biggest reasons why people decide to move here. And with the help of Astoria movers, you can too as well. And you will notice that there are many retail stores for rent.

a retail worker in Astoria
Opening up your store in Astoria could be a smart move

As for the price of retail spaces for rent, they can go from $2,300 up to $12,000. This is something that you should always have in mind. Astoria is fairly big and depending on who is your target group you will have to choose your location properly. And that can play a major factor in your work. Make sure to have a good plan before you move here to open up your business.

Long Island is one of the best places to open up your retail business in NYC

if you are looking for a vibrant place, has a lot of tourists, and people from all over the country come, then Long Island City is where you should open up your retail store. Long Island City boasts with very diverse culture. And that means that you will surely find your customers here. There are many places you can visit here because Long Island is filled with absolutely fantastic galleries and museums. Moving here to make a living is a great choice. Make sure to do it with the help of the moving companies Long IslandBecause with them, you will plan a safe, and efficient relocation. 

Now we are touching on the subject of the retail store lease. Since Long Island City is fairly big, you will have multiple choices. And as we mentioned before, depending on what you need you will have different prices. For instance, the most affordable space for lease costs around $2,700 while some of the most expensive can reach up to $108,000 per month. This will surely help you make a good plan for your upcoming business.

Check out Queen’s offers

Queens is one of those cities that are very family-friendly. This can mean a lot because you could focus your store on the needs of the families living here. And there are over 2,270,000 residents. They mostly rent their homes, and you will meet many young professionals, and skilled workers as well. Schools are great, and there are many job opportunities.
So, if you plan on expanding your business here and moving with your family, then you should always check with the moving companies Queens about the moving date. That way you will have more than enough time to organize everything else.
There are many places you can rent in Queens. And the prices can warry from $3,600 up to $120,000. It depends on what you need to do and where you want to open your store.

Opening a store in Brooklyn

This list wouldn’t be the same without mentioning Brooklyn. With its 2,570,000 residents, you will see that there are many opportunities and things you can do once you move. And most of the people who move to Brooklyn make sure to take them all. From jobs, fun, social life, and even love. It is a vibrant city that everyone loves. And as far as the prices of the leases go, they are going from $3,000 and to $55,000. This can give you a good idea about your budget, so you can then call moving companies Brooklyn to handle the rest of the move. We are certain that you will have a wonderful time working and staying here.

Brooklyn bridge
Brooklyn offers a lot of possibilities

Why do people open up retail stores on Upper West Side?

People tend to move to a place that is quiet, welcoming, and very nice. There are many such places in NYC, and one of those is surely the Upper West Side. This is a wonderful neighborhood that has over 212,000 residents. The majority of them rent their homes, so you can count on the constant influx of newcomers. This can mean a lot because your customers might always change. And you will notice that many retirees and young professionals live here.

As for the prices and leases, you should know that they begin at $52 per square foot and can go up to $250. This is something that can help you out with your planning. Many factors influence the price of the lease, and we will tell you more about them in a minute. In the meantime, if you have decided to make this your new home, then make sure to contact moving companies Upper West Side to help you out. Therefore, they will provide you with some of the best moving services that can make your relocation easier.

What are the factors that influence the price of the retail store lease?

Now that you know what are some of the best places you can go to and open up a store, you should know more about the factors that will determine the price of your lease. There are many things that you need to have in mind, and they include economic, property, and location factors:

  • Economic factors are some of the most important and they are: GDP growth, interest rates, wage growth, etc
  • Location – Better the location, the higher the price.
  • Property – What is the condition of the retail store for rent and how quickly can you open up
A map of New York you will use to look for the best places to open a retail store in NYC
Location plays a major role when you are looking for the best places to open a retail store in NYC

These are some of the most important factors that you need to have in mind when you want to open up a retail store in NYC. This will help you determine which places you are interested in, so you can properly narrow down the choices. And luckily, you will speed up the process along the way. It can be crucial if you are working on a timeline.

These are some of the best places to open a retail store in NYC. There are many things that you can add up to this, and that depends on where you open them. Make sure to research your market and target audience before you make a business plan. Therefore, it will help you up and you will begin working properly. If you are looking for more interesting tips about the moving process, make sure to read our blog. It is a perfect place where you can find a lot of good guidelines.

References:
https://www.nyc.gov/nycbusiness/startabusiness/generalretail

About Author

Born and raised in the upper east side of NYC. I consider myself an expert with anything moving or storage related aspects in New York City. Having been in the NYC relocation industry for almost two decades I found myself at a point that I am able to answer and help my clients on the first phone call. NYC is amazing and I love calling it my home. Feel free to email or call anytime! 212-244-4011