5 of the Best Places to Open a Store

Brainstorming, check. Research, check.

It's game day: You've done the marketing, prepared your soft opening, and you're ready to swing those doors open to the public. Balloons in hand, you march outside to the flapping of banners and chatter of employees handing out flyers to curious passersby.

But before all that, you've got research to do. The key to finding an audience is opening your business where customers want you to. According to Shopify's 2023 The Future of Commerce report, 49% of North Americans are more likely to buy from brands with a local presence.

But who is doing the buying? And where?

Consider these five cities

We've dug into research by Clarify Capital to tell you five of the best places to open a store based on factors like search interest, demographics, and walkability.

1. Atlanta, Georgia: The top choice for the best place to open a brick-and-mortar store, Atlanta residents demonstrate incredibly high interest in "local businesses near me." Residents also appear interested in opening stores themselves, which indicates a healthy local economy.
2. Miami, Florida: Known as the world's cruise capital, Miami offers some of the best views and walkability scores in the nation, making it easy for tourists to browse shops. It also scores high on the "number of retail locations available for rent."
3. Minneapolis, Minnesota: Minneapolis crushes it in search interest -- it ranks second in terms of residents who search "stores open near me." It's plenty walkable, too, making it easier for folks to shop in store.
4. New York, New York: The City That Never Sleeps isn't sleeping on "number of retail spaces for rent." Remote work left plenty of spaces open for the taking, and New York City ranks first in this category. The city is very accessible on foot.
5. San Francisco, California: San Francisco residents are big spenders. The city ranks first for consumer spending per household. It's also scored as the most walkable city on the list.

Is opening a store affordable?

Potentially, yes -- if you have insight into your finances and know how much it costs to run a business.

Starting a business typically costs thousands of dollars. (You can lower the cost of opening a store by snagging a grant in counties that offer millions in grant money.) You'll probably want to start an online business to accompany your physical storefront. A digital footprint will increase your views and send customers to your store.

Location matters. Where you open a storefront will affect how many people visit and how much money you make. Clarify Capital measured local interest, rental availability, and accessibility. But there's more to running a business than just that.

Pair your location with great software

Even after renting a retail location, the work will continue. A physical store means employees, and employees mean management. Human resources software makes managing your staff quicker and easier than finagling things yourself.

Location definitely matters -- but thanks to the internet, businesses can combine an online presence with a physical footprint to get the best of both worlds. According to Shopify data, 54% percent of consumers are likely to look at a product online and buy it in store in 2023.

So consider propping up a digital twin of your business. You can lean on e-commerce software, which gives small business owners the superpower to sell their stuff online and scale.

Combined with a great location, great software makes running a store easier than ever. And if you're feeling overwhelmed, consider researching additional retail software to find everything you need to make your new shop run smoothly.