So you have an idea for a business, and you can’t wait to start. You’ve daydreamed about your Grand Opening, you’ve told your family and friends what you want to do, and you’ve already thought of the perfect name for your new venture.

There’s one problem though. You can’t decide whether you should be opening your business in a store front or limiting your business to the internet.

Before you go throwing thousands of dollars on a lease for a retail space, you should fully understand the commitment you’re about to make AND the alternatives you have to going that route.

To really give your decision thorough consideration, here are a few of the questions you should ask yourself.

1. Is your business the type of business that absolutely needs a storefront? Are you offering a product or service that can only be delivered to the customer with a physical space—like a hair salon, a car wash, or a restaurant?
2. Can you afford the retail space?...