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Friday, June 09, 2006

Answering these 22 questions for each of the sites you're considering can help you decide on the best retail location for your business:

  • Is the facility located in an area zoned for your type of business?
  • Is the facility large enough for your business?
  • Does it offer room for all the retail, office, storage or workroom space you need? Does it meet your layout requirements?
  • Does the building need any repairs?
  • Do the existing utilities—lighting, heating and cooling—meet your needs or will you have to do any rewiring or plumbing work? Is ventilation adequate?
  • Are the lease terms and rent favorable? Is the location convenient to where you live?
  • Can you find a number of qualified employees in the area in which the facility is located?
  • Do people you want for customers live nearby? Is the population density of the area sufficient for your sales needs?
  • Is the trade area heavily dependent on seasonal business?
  • If you choose a location that's relatively remote from your customer base, will you be able to afford the higher advertising expenses?
  • Is the facility consistent with the image you'd like to maintain?
  • Is the facility located in a safe neighborhood with a low crime rate?
  • Is exterior lighting in the area adequate to attract evening shoppers and make them feel safe?
  • Will crime insurance be prohibitively expensive?
  • Are neighboring businesses likely to attract customers who will also patronize your business?
  • Are there any competitors located close to the facility?
  • If so, can you compete with them successfully?
  • Is the facility easily accessible to your potential customers?
  • Is parking space available and adequate?
  • Is the area served by public transportation?
  • Can suppliers make deliveries conveniently at this location?
  • If your business expands in the future, will the facility be able to accommodate this growth?

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