Should I or Shouldn't I? Business location question?

I am currently in a lease of a commercial building until January. The rent is $2k per month for 530 square feet. It has good foot traffic but I have only grossed $97k this year. I should be grossing $300k with the amount of inventory, etc that I have. The community it's in is a fake town made up by a real estate developer. There are 5 vacant locations and another two opening up this year that they can't fill. There are 15 storefronts total. There is a lot of new money in the "town" but the people who own houses here don't shop here in the clothing stores-- they are too concerned with being "seen" in it, or having something someone else has. I have the opportunity to rent a 2000 square foot building for $2600 per month. This building is 10x nicer than the one I'm in, is in an actual town that is considered the Aspen of the midwest. One business that would be our most similar competitor grossed $750k last year. The residents of the town (summer and winter) both work to support the businesses in town. This is a known fact. I've heard I'd do better there than in my current location, but I'm not sure if I should make the move. Would the risk be worth it just from the facts I've presented?

1 year ago - 1 answers