10 questions to ask when choosing a location for your store

10 questions to ask when choosing A LOCATION FOR YOUR STORE

SME Buzz - Economic Times - 6th December 2010

1.Visibility—Do you need a visible storefront like a shoe store or dry cleaner?
2.Traffic—Is the location a high or low traffic area?
3.Is your target market there?
4.Is the location in a growing or decaying part of town? What about local crime levels? 5.Condition of the property — will it need any repairs now or in the near future? Can you expand if necessary?
6.How healthy is the local business climate?
7.Are there other ‘draws’ nearby that will help attract your customers? Compatible businesses like a pizza parlour next to a video store would help you grow too.
8.Are there any zoning restrictions set by authorities?
9.Are the rental costs affordable or will you be paying an unrealistic premium?
10.Last but not least…how close are your competitors from you? How do they compare in appearance to your business? Do they look more or less prosperous? What is your strategy to counter competition?