Opening a shop in a train station requires different considerations from a high street store. With business opportunities in over 230+ stations across the country, it’s an opportunity worth exploring. Discover what you need to know before opening a shop in a train station today.
Browse indoor retail spaces from Rail Estate
Why should you consider opening a train station shop?
From the initial thought of “I want to open my own shop in the UK” to actually opening the shop, there are a lot of factors to consider. You’ll need to think of the unique challenges that you’ll face. The idea of opening a shop in a train station is appealing to many, but is it the right decision for you?
You’ll need to assess many different areas, including the location, costs and budget, legal considerations, customers and footfall, the size you’ll need, and facilities available.
At Rail Estate, our expertise helps tenants open for business up to 60% faster, with more than 45+ types of businesses finding the perfect fit with us. Read on to learn what you need to consider before joining them.
Why location matters for your shop
The location of your shop can determine its success. High streets naturally have high foot traffic, but competition can be fierce. Quieter, more secluded areas tend to have less competition, but this might have additional challenges around getting customers through the door.
Accessibility
Access to the shop is vital. Some shops don’t offer easy access, which can restrict your customer base. Looking for a spot in easy-to-reach locations with accessible space will make your store more appealing.
Flexible spaces
Your space needs to suit your needs. Finding a venue that offers flexibility is excellent, as you can expand your store to accommodate greater demands. Outdoor mobile spaces are a great choice as they give amazing flexibility and create a unique store experience.
Browse outdoor mobile spaces with Rail Estate
What costs and budgets should you consider?
Opening a shop can be costly, especially if you don’t effectively plan. Having a clear outline of the costs involved and what this might mean for your business is essential to success. You’ll need to think about the following areas:
- Rental Fees: Prime locations, like train stations and high streets, may have higher rent, but the footfall justifies the investment.
- Fit-Out Costs: Costs such as shop fittings, décor, equipment, and signage should be a key part of your budget. You should also consider the cost of CCTV and other security features.
- Marketing and Launch: Allocate funds for promotions to generate buzz around your opening. How can you wow your target market? Are there any freebies you can offer ahead of launch to get people talking about your brand?
- Running Costs: Include utilities, insurance, and staff wages in your financial planning. Other costs, such as point-of-sale kiosks, should be considered.
Legal considerations when opening a shop
Successfully opening a shop requires a clear understanding of the legalities involved. The different legal requirements and necessary permits should be a part of your decision-making when it comes to choosing the location and setting up shop. These legal requirements will be made more clear during your discussions with the landlords but we always recommend researching what requirements are needed.
When setting up a shop in the UK, you’ll need to think about:
- Registering Your Business: All businesses must be registered with HMRC.
- Licenses and Permits: Some business types, like food or alcohol sales, require additional permissions.
- Public Liability Insurance: Protect your business and customers with appropriate coverage.
Failing to consider the legal requirements can result in fines, reputational loss, and significant financial costs. Factor in your legal expenses and the paperwork you’ll need before opening your business.
Customers and footfall
Location is important for numerous reasons, but a key one is the customer base you’ll access. Choosing a location with high footfall, such as train stations, will offer you a potential customer base in the millions.
Another benefit of train stations is that the customer base will be diverse. City and rural train stations in popular destinations can attract everyone from daily commuters to tourists. Perfect for growing your business and introducing you to new customers.
Size and facilities
The size of the shop you are considering is important. It must suit your needs, have adequate space for your stock, and allow you to grow as your business does. It is also helpful to consider facilities. Lifts and handrails can help customers move around the store, and having toilets nearby or in the store for customer use can be a huge plus.
How Rail Estate can help set up a shop
At Rail Estate, we specialise in finding the best retail spaces in high-footfall areas. Train stations offer you unique opportunities, and our team can help you. We offer:
- Detailed Listings: Clear information on size, rent, footfall, and station facilities.
- Expert Guidance: Personalised recommendations to match your business needs.
- Streamlined Process: From inquiry to move-in, we make the journey seamless.
Let Rail Estate help you on your journey
Opening a shop is more than just finding a location, it’s about creating a space where your business can thrive. At Rail Estate, our mission is to connect businesses with spaces that offer excellent visibility, footfall, and flexibility and that contribute positively to the station experience.
Whether you’re a small independent shop or a national brand, we’re here to guide you through every step of the process. Start your journey with us today and contact us to access 900 million passengers in the UK.
Get in touch about retail opportunities in 230+ railway stations
Leave a Reply
Want to join the discussion?Feel free to contribute!