1.) Always remember to check your local area for competitors when buying a shop. If there are competitors nearby, find out why people buy from them and which store they prefer. This will give you an idea of which store is most popular.

2.) Before you buy a shop, consider its location and how easy it is for your customers to reach you. If your shop is near to the high street try to determine what level of foot traffic is present and whether this is enough to sustain your business. You should also be mindful of what parking is available to your customers, especially if your premises is away from the high street or if customers are likely to visit you to collect goods or benefit from your services.

3.) Try to determine the number of staff required to run your shop. You may find that the store is managed by a family which could leave you short staffed when you buy the place. Determine how many staff will remain when the business is bought. Do you need to recruit staff with specific skills?

4.) If you decide to take on a leasehold property, make sure an inventory of the shop is conducted before you move in. This will help you avoid any disputes in the future with your landlord about the contents of your shop.