MINOT, N.D. (KXNET) — Retail is important for the economy of every city and in Minot, it could take anywhere from 18 months to a few years for a company to open a shop in the area, even after they express interest.

There are different types of retail in Minot including strip mall-oriented, mall-oriented, and downtown-oriented development.

Some companies that have expressed interest in recent months include a national membership-based retail club, a sit-down restaurant, and a Chinese restaurant.

However, there are a number of things that could keep companies from opening businesses in the market.

“The one thing is that they need the right site and we do have some limitations. We can’t make land that doesn’t exist. And the other issue is getting the kind of potential owners, in some cases because of franchise. And so there are some franchise opportunities if people want to open up local franchises,” said Jonathan Rosenthal, the economic development administrator for the City of Minot.

He says if people are interested in franchising opportunities, they can reach out to the City of Minot’s Economic Development Office.

The office can be reached by phone at (701)-420-4524.