Finding a location – Dispatches From The Front

Part I of finding the perfect location detailed your first step; identifying and profiling your customer.

In this part, we’ll discuss finding potential locations near your customer. You want to make it easy for them to patronize you. If they are likely to shop over lunch or on the way home from work you should consider locating near their work. If they are likely to shop with you after dinner, you should consider locating near their home. If your business involves their free time, you might want to locate near their entertainment options. You know this because you have a profile of your most likely customer(s).

At this point, you might consider engaging the services of a commercial realtor familiar with the area. An experienced realtor can save you time by only showing you properties that are within the demographics that define your specific customer. Remember, the majority of your customers will come from 1 – 3 miles of your location, with a small percentage coming from 5 miles.

Continue reading “Finding the Perfect Location Part 2 | Lydia Mehit” →

You’re opening a retail business, selling direct to the consumer, and you are looking for a physical location. What are some of the things you need to consider? How do you choose one location over another? Which criteria should weigh heavier? You’ve heard the old saying of: “Location, Location, Location”, but what does that mean, exactly? One of the biggest decisions you make, after the decision to start a business, is where to locate your business.

There are many possible locations for a retail business. You could locate it in a shopping mall, a strip mall, a free standing building, or in a business district. You can lease the space, purchase or sublet it. What you choose can be based on several different factors, so let’s talk about some of those factors.

Continue reading “Finding the Perfect Location Part 1 | Lydia Mehit” →