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Best UK cities to launch a retail outlet revealed in new report

Retail-Start-Ups onbuy edit

Opening a new mobility retail outlet in any city is no easy task, but according to new data there are some urban areas where a retail start-up is more likely to succeed than others.

Newcastle is one of the kindest places when it comes to opening a physical outlet, according to OnBuy.com’s research, which compared which cities enjoy the highest average spend, where rents are lowest and manager salaries are highest.

Newcastle is among the top three cities when it comes to most retail spend per individual per year (£303) and the cheapest retail rent (£62 per square foot).

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Unsurprisingly, the highest average wage for a retail store manager was in London, at nearly £27,000, but the capital has a vastly higher rent rate of £127.14 per square foot.

Cardiff has some of the cheapest rentable properties in the UK and a relatively high salary rate for retail managers, but has one of the lowest average retail spends. The full list can be seen below.

In spite of the disparities across the country, the number of start-ups are constantly increasing and it is showing no sign of stopping, said Cas Paton, managing director of online marketplace OnBuy.com.

“According to StartUp Britain, in January alone, almost 50,000 start-ups were established – that means, in effect, that around 1,500 businesses were being created each day. This number will only continue to grow as the year progresses.”

“However, the sad truth is, not all of these businesses will succeed. It is important to find your niche, take your time, plan it out and keep evolving. When your plan inspires you, take it with two hands and run with it.”

What city in the UK spends the most in retail?

  1. Birmingham – £313
  2. Newcastle – £303
  3. Leeds – £282
  4. Edinburgh – £272
  5. London – £262
  6. Glasgow – £257
  7. Liverpool – £229
  8. Manchester – £225
  9. Cardiff – £219
  10. Bristol – £184

Which city has the cheapest retail premises (per square foot)?

  1. Liverpool – £55.31
  2. Cardiff – £61.13
  3. Newcastle – £61.89
  4. Leeds – £67.46
  5. Bristol – £70.49
  6. Glasgow – £71.02
  7. Birmingham – £71.18
  8. Manchester – £71.20
  9. Edinburgh – £75.99
  10. London – £127.14

What is the average wage of a ‘Retail Store Manager’ per city?

  1. London – £26,858
  2. Glasgow – £25,685
  3. Cardiff – £25,025
  4. Liverpool – £24,990
  5. Birmingham – £24,566
  6. Edinburgh – £23,945
  7. Newcastle – £23,596
  8. Manchester – £23,131
  9. Leeds – £20,961
  10. Bristol – £20,038

Tags : birminghamcardifflondonnewcastleonbuyonbuy.comrentretail
Joe Peskett

The author Joe Peskett

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