There are many areas of finance needed in a retail business, and let’s start with your premises.
You may be entering into a lease agreement with your Commercial Landlord which requires an upfront lease premium to be paid, or you may be purchasing your premises and need a Commercial Mortgage to finance your property.
Whether you own or lease your property, you will also need to fit out or maintain the premises to accommodate your business, and this can take a significant proportion of your capital to undertake this work.
The requirement to create a welcoming and attractive shopping experience for your customers will mean that you will need to hold and display sufficient stock to meet demand, as well as having well trained and sufficient staff to serve your customers professionally.
Stock funding can tie up a significant amount of your working capital, and this will be an ongoing commitment. Understanding how quickly your stock sells, and how quickly products can be received from your suppliers after ordering are the key to successfully managing this funding gap whilst providing a great environment for your customers to visit.
Orders for stock may also need to be committed well in advance of your sales periods, especially for seasonal items across a range of products from clothing, gifts to furniture and outdoor goods to ensure availability when you need it.
Here at Hornby Commercial, we can help you finance your established retail business from a range of the following options and will be happy to discuss your needs.
We can also help you to save money on your energy bills, by working with our partners at Inspired Energy plc.