Five London areas where starting a commercial activity is extremely profitable
25th Jul 2022 Life
Everybody knows that London is one of the world capitals of trading, commerce and retail.
The enormous number of residents (more than 9.500.000 at the beginning of 2022), combined with the continuous inflow of tourists (about 7.400.000 visits, waiting to re-establish the same amounts of the pre-pandemic era), make the British capital a highly wanted hub for every kind of commercial activity.
Clearly, everyone – whether he/she is a British citizen or a foreigner investor – who wants to start a business in London must detect first the most profitable area among the ones available in the city’s urban tissue. And when it comes with a megalopolis like London, getting mislead or even deceived is very simple. That’s why having clear ideas about the location of our future business is crucial. Especially if we're talking about the retail sector.
Let’s try to put it in other words. Do you want to open a shop in London? First: you must be aware that, as of today, running a local independent shop is anything but simple. Second: you must know which is the most responsive area of the city for what concerns your specific business. Or as an alternative, you must gain full knowledge of which areas have proved to be remunerative basically for any kind of business. The latter are not that much: the five most enticing ones are listed below.
- Covent Garden. Opening a commercial space in Covent Garden, or in the West End in general, is always a winning idea. This area represents the perfect balance between luxury and sustainability. A combo that never ceases to entangle both clients and new investors.
- Notting Hill. Accurately portrayed by the homonymous film (even if with a few artistic licenses), this is the shopping area for intellectuals, academics or those who are simply looking for a different, less conventional way of shopping. By the way, do not expect to find just old-fashioned bookshops: the area is packed with any kind of commercial establishment. Which means also a fierce competition.
- Carnaby. For over sixty years, Carnaby Street and the other surrounding secondary roads have represented an authentic oasis for those who want to go shopping in London. First, the Swinging London vibe, then the punk rock revolution: everything – especially in terms of fashion – has been created or passed through there. And even in the Third Millennium, it remains a landmark for everything related to fashion and new trends.
- Mayfair. Are you planning to open a luxury shop? Then Mayfair is undoubtedly your spot. Renting a place here is highly expensive, but it’s a risk worth taking. If you play your cards wisely, profits will not be long in coming. The only question is: have you got enough funds to start a business in such an exclusive area?
- Bond Street. Another luxury area, maybe the most sophisticated one. To the point that it is recommended only to those investors who aim to start a real top-notch business. Consider that many small entrepreneurs work a lifetime in order to gain the privilege of upgrading their business in this area.
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