Tuesday, April 4, 2017

The Location of Your Business Makes a Big Difference

If you are considering opening a business you need to consider the location as one of the most important aspects of where you plan to lease space. Demographic information is important because this will tell you how much people within your community are willing to pay and what type of products they desire. 

A retail store has a range of around 3-5 miles of customer interest. Unless you are a limited "big box" retailer that can draw people from a wide geographic area you will need to attract people near your location.

Seek out busy streets that get a plenty of foot traffic. As a brick-n-mortar business sells by attractive physical visits this type of exposure is important. 

You will also want to locate your business around other business that are in retail as well. People frequent areas that have lots of options for shopping. Business located together will draw more than they can alone.

You may also want to make sure people in your area like what your selling. Check on income, purchase habits and education. These will make a big difference in what type people are willing to frequent your store.

You may also want to consider the parking problem. Shoppers want convenience in parking that allows for quick access. If you walk a few blocks with heavy items you will understand why you might lose customers if their cars are not nearby. 

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