How to choose the location of the outlet?
When starting a business, one of the most important points is choosing a place to buy or rent commercial real estate, because location often plays a key role in trade. The productivity of the business, the flow of customers, the number of consumers interested in your product, and so on, directly depend on the correctly selected place of the outlet.
Moreover, if you choose the right place for buying or renting premises, you will be able to successfully expand your business in the future and not be limited to a narrow range of goods or services. When choosing commercial real estate, make a sound assessment of the expected traffic of potential buyers and the degree of attractiveness of the store for people passing by (perhaps the premises will need advertising banners or additional repairs). When choosing which property to buy or rent to maximize traffic, consider the following factors:
• The store should be located near crowded places (residential areas, office centers, shopping malls), and even better – on streets with heavy pedestrian traffic;
• When selling highly specialized goods, it is advisable to choose a place where you can most often meet your target audience (for example, a children’s stationery store near a school);
• Rent a property with good transport links nearby and, if necessary, a parking lot;
• Avoid being close to competing stores with a similar assortment of goods;
• It is better to choose a premise on the first floor, shops on the second, in some cases, lose up to half of the possible traffic of buyers, so if this is not possible, choose at least a basement or basement floor.