DEFINITION: A space you lease for the selling of goods to consumers

When it comes to business, retailers have one overall goal: to sell merchandise. That's why they focus on sales floor space, adequate parking for customers, and an overall image that draws in customers. Of secondary interest to many retail operations are office space and storage requirements, since most inventory is on the sales floor.

A retail operation's space is usually subdivided among display, office, and storage. As a rule of thumb, office and storage spaces take up 10 to 25 percent of the total floor area. While the storage and office spaces are important parts of any retail operation--to handle shipping and receiving and related chores, to take care of paperwork, and to store extra inventory--you want to get the most out of all space that's not used for display and sales. Here's where good organizational skills come in handy, along with shelves and cabinets and anything else that helps you maximize your space.