First, let me say congratulations to you! I am so thrilled to hear that your thoughts are of growth, forward momentum, and making your business better. You are a successful business owner, I can tell! Everyone else is talking recession - you are looking at how to make your business better, stronger, more effective. Excellent!
Your first step should be some research...
You mention that this is a new shopping center. You need to find out who the 'anchor' tenants will be. This refers to the largest space tenants - in a mall, it's typically a chain department store (Macy's, Nordstrom, etc.), and in a shopping center it's likely another version of that (Target, Kohls, etc.). Ask the leasing agent to give you the info on what tenants have already signed a lease, and what their occupancy date is. You should also ask what food services/restaurants will be included, as well as smaller shops & services (hair salons, etc.).
Do a 'drive-by' of the shopping center and the neighborhoods around it. Take a look at the size, age, and price range of the residences within a few blocks of the shopping center. With gas prices being what they are, people are shopping closer to home.
Once you have this information, you'll have a picture of the customer demographic that the shopping center will market to. Anchors that are discount stores (WalMart, TJ Maxx, Ross) and restaurants (Applebees, Red Robin, Olive Garden) generally denote marketing to lower to mid-level income customers. Designer Outlet Stores (Pottery Barn, Restoration Hardware), high end retailers (B&N, Borders), and restaurants (Claim Jumper, PF CHangs) indicate marketing to consumers with a higher income. And centers that are located in higher-end developments tend to be seeking tenants that are selling products & services to that demographic.
You'll need to take all of the information you've gathered and evaluate whether or not your store is a good fit with the other tenants and the area that the shopping center is located in. Be realistic in looking at your products & merchandise, and also the image your business projects. Now may be the perfect time to step it up and re-brand your shop in order to capture the attention of a new market segment, in order to benefit the most from a move.
Then it's on to evaluating the costs involved in a move...
