Choosing Business Location

In a business, location is a very important role in achieving success. Especially in the retail business. Before determining the location of the retail business there are some things you need to note that later can be a consideration in determining the location of your retail business. Consider the following questions:

1. Who are your customers?

2. How do you visualize your building?

3. Do you know what you want to sell and what the benefits of your business?

4. Area where your retail, storage, office, or the size you need?

If you do not know the answers to these questions, it will be difficult for you to find that perfect location to produce the maximum profit for your retail store.

Commodity

Identify what type of product you sell, because some products will require certain types of locations. You need to know whether you should consider a shop, store or shop the special shopping.

1. Comfort items require easy access, allowing customers to make quick purchases. A mall would not be a good location for convenience goods. These products are low price and bought by many customers.

2. Specialty goods are more unique than most products and customers generally will not mind traveling out of the way to purchase the product. A specialty shops can also do well near other shopping stores.

3. A shopping stores typically sell at higher prices are often carried by the customer. Furniture, cars and clothing are examples of high-end products found in a store shopping. Because prices of goods, customers usually want to compare prices before making a purchase. Therefore, retailers would do well to find their shop in similar stores.

Population and Your Customers

Regional research carefully before making a final decision. Read local newspapers and talking with other small businesses in the area. Get the demographic location of the local library, trade room from the Census Bureau. These resources will give you information about, income and age of local residents. If you know who your target market, make sure you find the location where they live, work and shop.

Accessibility, Visibility and Traffic

An area with a lot of traffic does not mean that it will also generate a lot of customers. Retailers want to be placed where there are many buyers but only if the purchaser meets the definition of their target market. small retail stores to take advantage of the traffic near the larger stores.

1. How many people walk or take a train through the site?

2. Is the area served by public transport?

3. Can customers and delivery trucks easily in and out of the parking lot?

4. Is there adequate parking?

Depending on your type of business, it is wise to have somewhere between 5 and 8 parking spaces at 1,000 square feet of retail space.

Signage, Zoning and Planning

Before signing the lease, make sure you understand all the laws, policies and procedures relating to the location of your grocery store. Contact the local city hall and the commission zones for information about the regulations regarding signage. Ask about any restrictions that may affect your retail operations and future plans that could change the traffic, such as road construction.

Competition and Neighbors

Other business areas in the candidate location you really can help or hurt your grocery store. Determins if your type of business that is compatible to your store. For example, a high-end fashion boutiques may not be successful in the various discount stores. Place next to the nail salon or hair and may be doing more business.