If you opt for a city or state to locate your retail store, research the region thoroughly before making your final decision. Read local papers and speak to other small businesses in the area. Obtain location demographics from the local library, chamber of commerce or the Census Bureau. Any of these sources must have information on the area’s people, income and age.
You know who your customers are, so make sure you find a location where your customers live, work, and shop. Don’t confuse a lot of traffic for a number of customers. Retailers desire to be located where there are many shoppers but only when that shopper satisfies the definition of their marketplace. Small retail stores may benefit from the traffic of close by larger stores. · Just how many people walk or drive at night location.
· May be the area served by public transportation? · Can customers and delivery vehicles easily enter and out of the car parking lot? · Will there be adequate parking? Based on the type of business, it would be wise to have somewhere between 5 to 8 car parking spaces per 1,000 square ft of retail space.
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When considering presence, look at the location from the customer’s viewpoint. Can the store be observed from the primary stream of traffic? Will your … Read the rest