Common Lease Types So you have finally, after tons of research and analysis decided on a location!! If you are not planning on buying, then you will probably be dealing with a landlord and a lease. There are several types of commercial leases that you may be offered. It is important to know how each of these leases work, and what you can expect to be paying. Location will have… Read More »Common Lease Types

Huff Gravity Model You have narrowed your possible new sites down to three locations. Each has met various aspects of what exactly you are looking for in a location. How might you want to proceed to compare these three to determine the best one? One option might be the Huff Model. The trading area is the area where a business will be pulling customers from. Remember back to our model:… Read More »Huff Gravity Model

Influence of Societal Views Society plays an important role in determining where to locate a business. In earlier units, we talked about an upscale, high end steak house. You would not locate this type of a restaurant in a community with a low median income, where they would be unable to patronize your business, right? What about opening an indoor playground geared for ages 2–12 in a retirement community? This… Read More »Influence of Societal Views

Some of the items in this list can be part of a good review of the census or a GIS review. Some of these need to be done in person, walking the area! Let’s take a look: Your style of operation. If you are going to start an upscale steak house in a neighborhood filled with dollar stores and fast food restaurants, you may want to rethink  your choice. Your style… Read More »Things to Consider When Choosing a Location for Your Business

Site Selection Decisions What you’ll learn to do: Summarize the factors considered in site selection decisions The site for a new business or an additional business location can be the difference between a successful start and an unsuccessful one. Making sure to take into account all of the aspects of selecting the correct site is extremely important. We have talked about ways to collect the data, from the U.S. Census to… Read More »Retail Site Selection Decisions

Available Retail Locations What you’ll learn to do: Examine the variety of locations available to retailers There are multiple location options available to retailers. Downtown areas, enclosed malls, strip malls, stand alone or online. Where you locate depends on your product or service and where people looking for the product or service shop! We went through the process for deciding if an area was suited to your business, now let’s look… Read More »Retail Locations: variety of locations available to retailers

Retail trading areas can be primary, secondary or fringe. We will discuss each and determine ways to identify the trading areas for a new or expanding retail establishment. census gathers information from every household in the every 10 years. This data includes: Number of people in the household. Household relationships Age, sex, race and marital status Number of household units in each address Status of the plumbing facilities, number of… Read More »Explain the significance of selecting a store location

GIS and Location Decisions So you looked at your census data for your area, and you are still feeling pretty confident that you have chosen a good location for a retail business. It seems like the population will support your endeavor with a suitable income and education level, among other components. So what is next? Well, GIS might be your next step! A geographic information system (GIS) is a system… Read More »GIS and Location Decisions

Retail Trading Area What you’ll learn to do: Explain the significance of selecting a store location Retail trading areas can be primary, secondary or fringe. We will discuss each and determine ways to identify the trading areas for a new or expanding retail establishment. LEARN MORE Review this website for trading area information. This article on Trade Area Analysis has a great deal of helpful information regarding retail trading areas in small… Read More »Retail Trading Area

Location Effects on Planning When you open a new retail location, the hope is always for a long successful business. Recent closings of what looked like successful business operations has shed new light on the importance of proper site selection, proper analysis when securing the site, and meeting the needs of customers once you have located your space. LEARN MORE “Why Are Retail Chain Stores Being Closed?” by Barbara Farfan on The… Read More »Location Effects on Planning