Street shops have the highest footfall and signage exposure but the highest rent (Mong Kok Nathan Road can hit HK$300+/sqft). Mall shops gain from mall promotion and steady traffic but pay turnover rent or marketing fees. Upper-floor shops cost 40–60% less, ideal for beauty, clinics, education, studios — destination businesses.

Licensing, gas, and ventilation are trickiest: food licences need FEHD-compliant kitchen layout and fire safety; gas supply isn't available in every shop; extraction must be approved by building management; some buildings ban open flame; check whether an existing food licence transfers.

More complex than office: base monthly rent, turnover share (8–18%), promotion/marketing fee, management fee, A/C fee, signage fee, possibly bank guarantee. Get all add-ons listed before signing to avoid 'low headline rent, high real cost' surprises.

Five indicators: prior tenant lease tenure (3+ years suggests sustainable trade); foot traffic counted at morning/noon/evening; complementary nearby businesses (food street effects); MTR/bus distance and density of upper-floor residents/offices; ownership concentration. Visit at least three times across different days/times.

Shop fit-out usually 1–3 months (F&B 4–6 months); rent-free is typically 1 month for street shops, 2–3 months negotiable for F&B. Note reinstatement clauses and that drawings need landlord approval. Management and A/C fees still apply during the rent-free period.