Is this the right time to open a business?
Las Vegas, NV (PRWEB) November 22, 2016
In 2016, DRSS is scheduled to open at least 120 new retail stores by the end of year, and is forecasting that it will open nearly 250 new retail stores in 2017 due to changes the President-Elect has promised to keep. DRSS has opened close to 4000 stores since 1993.
So, the general election is over, and individuals interested in opening a retail store are asking themselves:
"Is this the right time to open a business?"
James Wichert, owner of DRSS, North America's largest developer of independent retail store services, believes that it is. "Trump's policies towards business owners will foster a major increase in the number of people going into business, and will help current business owners’ profits as well," said Wichert.
Furthermore, Wichert highlights the benefit of retailers in several of President-Elect Donald Trump’s talking points, including:
- Lowering taxes on businesses and individuals, which will keep working capital in the already tight pockets of new retail business-owners, rather than paying it out in taxes
- Stimulating the economy through the provision of Federal Funds to support infrastructure (e.g. road and bridge repairs, and new construction projects), which will in turn stimulate employment and, by extension, consumer spending, rewarding retailers in particular
- Allowing corporations to bring money back into the country from overseas bank accounts, which could potentially infuse U.S. banks with upwards of $2 trillion, which in turn could allow for a return to conventional lending
- Making material changes to Obamacare, which could potentially drive down the cost of insurance, creating more disposable income, which would also stimulate consumer spending
One final benefit to President-Elect Trump’s proposals is something to monitor closely: although retail rents are reasonable today and good locations are abundant, that could change quickly once unemployment levels drop and disposable incomes rise. Once investors feel comfortable with the direction of the economy they will be more willing to open their own retail store, which over time will drive up rental rates and reduce location options.
“So,” Wichert adds, “If you are interested in opening a retail store, make sure you are comfortable with the direction of the economy, but also do not wait too long to open your retail business."