Hoe to choose commercial premises in Costa Rica

We spoke with our specialized advisor of Nativu Comercial y Desarrollo, Lumberth Chacón, about how to choose commercial premises in Costa Rica.

There are several aspects to consider, but the most important is to know your business. It is necessary to ask some questions for example: in what niche market am I? how good is my product or what is my star product?, etc.

Opening a commercial premises implies new expenses and we must know that these expenses can be borne by the current operation or the capital contributions that are made; never of the sales that the premises could generate in the first month or quarter.

Here’s what you should know before choosing commercial premises in Costa Rica:

Questions prior to investing in commercial premises in Costa Rica

What is the current state of the business? You should know if you can currently cover operating costs. Analyze if you are selling all the units you need or want to sell or if on the contrary you need to make changes to improve the current operation.
What are my current sales? Current sales barely manage to contribute enough to break even or are exceeded by 10%, 20%, 30%, 40% …
What is my break-even point? To keep the business running, it must achieve a certain amount in monthly sales and these will provide the necessary money to cover all the current costs of the operation. If you notice that this break-even point has been exceeded:

Congratulations, profits are starting to happen!
Why do I think I need commercial premises? Do you think that if you have more stores the business will sell more (it does not always happen) or you want to expand the operation? (good point), or do you not like the one that you currently have (why?), do you want to expand the product portfolio and no longer had space (excellent).

Determined to invest in commercial premises in Costa Rica? It’s time to search!

The first thing you should do before choosing a commercial premises is to establish the maximum rental price you can pay. This allows you to clearly project all aspects of the business. Of course, you should keep in mind that the rental amount is doubled the first month by the security deposit, although this in some cases can be negotiated.

Lumberth Chacón, Nativu Comercial Advisor

What kind of customer do you hope to capture? The type of customer is directly related to the type of business and the products that are going to be offered. It could even suggest a refreshing of the business’s image.

What areas are attractive to locals in Costa Rica? In some cases by strategy, premises are located in the east and west of the capital so that, in a set period of time, the behavior of the business can be monitored. It is possible that the business in one of the areas strongly outperforms the other and this requires evaluating it.

Do I want it in a mall, plaza, shopping center or apart? At this point a tour is made through each of the areas that we find attractive, the competition is rated and how many competitors there are, evaluating the number of people present and the time at which the visit was made.

How long will it take to start the project? It is very important to define a maximum time to execute the project and to be able to analyze all the points in favor or against, ensuring with this not to make decisions by impulse or lightness that can weaken or liquidate the business.

Our specialized advisors can help you find the best options for commercial premises in Costa Rica. The Nativu Commercial and Development team is trained in real estate scouting to provide the best service and help you find the property that enhances your business to the maximum.