Some entrepreneurs, when starting a business, opt to go with an online-only business. However, just because a company starts as online-only doesn’t mean it will always stay that way. A business owner may later decide to expand his or her business into having a brick-and-mortar presence.
For example, there has recently been a trend of online retailers opting to move into physical retail spaces.
There are many things that could lead online businesses to consider entering the brick-and-mortar arena. Examples include:
- A desire to grow or craft their brand in a way that having a physical store would be particularly helpful with
- A desire to expand their customer base
- The availability of better rent rates, improved options or upped incentives when it comes to brick-and-mortar sites
- A discovery that there is a preference among their target customers to be able to physically interact with products before making purchase decisions
When owners of online businesses decide that having a physical storefront would be a good fit for their evolving goals for their company, many things can impact how the transition to having a brick-and-mortar presence goes and how much the move ends up helping with their goals. One is what kind of lease agreement they end up signing to rent space for their business. Lease terms can have many major and lasting impacts on a business. So, when negotiating a lease agreement in connection to a planned move to a brick-and-mortar location, online business owners may want to have skilled business lawyers assist them with the negotiations.