Factors of retail location

Population and Your Customer

If you are choosing a city or state to locate your retail store, research the area thoroughly before making a 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 should have information on the area's population, income and age. You know who your customers are, so make sure you find a location where your customers live, work and shop.

Accessibility, Visibility and Traffic

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·         How many people walk or drive past the location.

·         Is the area served by public transportation?

·         Can customers and delivery trucks easily get in and out of the parking lot?

·         Is there adequate parking?

Location Costs

Besides the base rent, consider all costs involved when choosing a retail store location.

·         Who pays for lawn care, building maintenance, utilities and security?

·         Who pays for the upkeep and repair of the heating/air units?

·         If the location is remote, how much additional marketing will it take for customers to find you?

·         Will the retailer be responsible for property taxes?

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Personal Factors

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Special Considerations

Your retail shop may require special considerations. Make a list of any unique characteristic of your business that may need to be addressed.

·         Will the store require special lighting, fixtures or other hardware installed?

·         Are restrooms for staff and customers available?

·         Is there adequate fire and police protection for the area?

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