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Retail Updates
Retail Updates

 Choosing the Right Locations for Your Store

 

In doing business, oftenly the choice of store location is very important thing to do. If there is a mistake in the selection of store locations there will be various kinds of losses, such as small visitors, rental fees and others. It would be very important when we can get a store location where is crowded visitors, cheap rental rates and the distance can be easily reached.

In looking for places we often just choose places based on suggested by friends, relatives, or even "people say". We do not really see the various important aspects to be aware of choosing a location for our store. While there are important indicators that need to be understood so that we can get the right store location. To get the right store location, there are three things that must be considered in outline, place, competitors, and consumers.

In the first indicator factor, place. Things to be considered from the place itself are 1) how the place\\\\\\\'s accessibility to all existing vehicles, 2) how much time it takes consumers to arrive at our preferred location, 3) how the congestion level around our preferred location, 4) how the condition of Infrastructure around the location of our choice.

The second indicator is the competitor, the things that must be considered from the place itself are 1) how the congestion level in the location of competitors, 2) what products and services are provided by competitors, 3) who the owner of the store competitors is.

The third indicator is the consumer, the other thing that must be sought from the consumer are 1) consumer profile and consumer preferences, 2) the habits of the people around there and the density of the community.

Of the three indicators above we can see some important things to be able to determine the location that is the place for our business. From the place or location we choose, and taking into account these crucial factors we can calculate the distance traveled, travel time, aksebilitas to the location, business environment. From the second indicator, we can asses the crucial factors that will occur, the intensity of competition, customers who come to the competitors, as well as the strengths and weaknesses of competitors. From the third indicator, we can asses the existing market potential, purchasing power of the consumers, lifestyle of consumers.

The conclusion is choosing a location for a place to do business is not as simple as so many people think. Many factors must be considered before we choose the location for our business.

 

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