Location affects sales success, the speed at which people find out about Target store and profits. To find the best location for store, you need to think about a lot of things:
- What the neighborhood has to offer.
- How many people walk near the location?
- How many other stores there are nearby?
- What your future customers like.
- Whether there's parking, easy access, or nearby transportation.
Details on Choosing a Location
- Let's talk in more detail. The potential of the neighborhood tells you how well sales will go there. It doesn't make sense to open in a small neighborhood.
- If you want to evaluate a neighborhood, take into account how many houses there are, the people, how developed the infrastructure is and what are the important places nearby - parks, shopping centers, and stops.
- Look at the people who pass by - this will show you how many potential buyers you can attract. Using information about the neighborhood, you can understand how many people will be interested in your store.
- Next, look at the competitors nearby. If there aren't many, it's good for business.
- Think about what shoppers like about the neighborhood. If wealthy people live there, they will want quality clothes from well-known brands, not cheap ones.
- Having parking and good access roads is important, too. If the store is hard to get to, people will find another store. Based on previous research, if your product is of interest to car owners, you need parking spaces. You need one space for every 25 m2. If your customers are people with a low income, parking is not so important.
