(Average National Rent: Varies by location)
The flagship store is a retailers’ signature store known to host the most visitors and carry the highest volume of merchandise. Flagship stores are often opened on a prominent street in a major metropolitan area. It is one of the most expensive location choices, but if planned effectively it can increase your brand’s visibility. Businesses in these locations should have already built a stable brand that has been tested and approved by a loyal customer base.
High exposure to foot traffic and tourists is the main advantage of opening a store in a high-profile location, but as a result this store will always need to be fully stocked and prepared to sell far more product than sister stores in malls or store fronts. Morgan advises businesses to consider whether they have enough resources to meet the demand of a flagship location before entering into a lease.