Pick the perfect location
- Research the area
- Choose an established business district
- Look at competing merchants
- Consider the features of the property
- Build a quality staff
Choosing the most appropriate location for your small business can be critical to your success – especially if you are a retailer.
- The first step in determining an ideal location is researching the area. Ask your local Chamber of Commerce and local business owners about neighborhoods you’re considering. Observe the weekday and weekend traffic patterns – both pedestrians and cars – firsthand. Make certain that there’s a need for your product or service and not too much competition in the immediate area.
- Consider the surrounding two- to three-mile radius as your target market.
- Consider choosing an established business district. Since these districts are seen as complete destinations (with coffeehouses, restaurants, shopping, and services such as salons) you will reduce your need to advertise and give your location credibility.
- Sometimes, even competing businesses in the area can benefit your business. You may get new customers who are shopping at similar businesses in the area.
- The features of the property itself can also make a difference. For example, in an area with a lot of pedestrian traffic, having a store at street level can be a major advantage over an upstairs competitor who cannot attract window shoppers. Available customer parking can also prove critical. If you do not have spaces designated solely for your business, you may lose paying customers to competitors with more convenient parking.
Having a good location and building can also help you build a quality staff. An attractive location will hopefully result in a more enjoyable work and shopping environment. Convenient access to bus and train lines will help attract employees as well as customers.