Retail and Business Spaces in Cambodia
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There is a lot of confusion when we talk about retail and business spaces. Both seem to be talking about a specific space for which one can conduct business activities. However, the clear distinction is in the amount of foot traffic needed for a particular space to be productive.
Retail Space is usually characterized as the spaces where a lot of foot traffic is required. These will include storefronts, shops that are directly adjacent to major roads, street-level spaces and areas where frontage boards can be easily displayed.
A Business space, on the other hand, is an area that business activity can be conducted. It is usually bigger in size, allowing enough room to more employees, has spaces where teams can conduct meetings or huddles, and even a break room where employees can rest or eat their lunch.
Characteristics of a Retail Space
Retail Space can be seen in almost all areas in Phnom Penh, Siem Reap and Sihanoukville. They share the same characteristics, regardless of the size or the type of retail being sold.
Types of Retail Spaces
This kind of commercial real estate can be seen everywhere. They vary depending on the type of goods they are offering and the size of the space that they occupy. Few examples of retail spaces are:
Characteristics of a Business Space
Compared to retail space, business spaces don’t need to be prominently seen by pedestrians and commuters. Spaces like this usually require a modicum of privacy for the owner conduct their business.
Types of Business Spaces
Business Spaces can be located inside commercial buildings or mixed-use residential properties.
They do not require a lot of foot traffic even though they are used for profit generating purposes.
Spaces like this are still considered commercial real estate and are usually located in city centers.
They do not require glass frontages or big marquees advertising their products.
Business spaces are generally bigger than retail spaces to conduct their activities.
Most of these spaces are used for “service-oriented” business wherein no item is being sold but services are offered.
They are significantly larger than the local retail stores.
They need to have enough room for customers who need to take their time to complete their business
Business spaces don’t need to be near busy streets because regardless of where they are located, clients visit the area for their specific needs. Some examples of business spaces are listed below:
Dental or Doctor’s or Veterinary Clinic - This type of business doesn’t need prominent space. Clients will visit these businesses on a need basis regardless of where they are located.
Spa, Gym and Wellness Centers - This business is usually located inside residential buildings, condominiums or commercial structures.
Coffee Shops - they are a type of business space because even though they sell items, customers visit their store and stay there for some time.
Bars and Restaurants - Sometimes they are located in areas where retail spaces are also found, but they have larger spaces and generally have additional spaces for restrooms and kitchen.
Retail and Business spaces generally share the same real estate sphere. The distinction is mostly on the type of goods they are offering, and the purpose with which space is being used. For most businesses, location is the key. It is important to find a place that would suit your specific needs.