How to Choose a Location

How to choose a location for your retail storeIf you are starting a clothes store, location is absolutely everything. If you choose the wrong location, your business will crumble before it has really had a chance to begin. On this page, we are going to take a little look at how you can choose the right place to open up your business.

1. One of the first things that you will need to think about is who your target demographic is. This is going to have a major bearing on where you select to place your store. For example, if you are planning to open up a higher-end boutique, it is probably not going to be wise to open on a trading estate somewhere. You will want to be there, on the high street. If you are opening up a store for men, then you obviously do not want to be in a place mainly frequented by women.

2. You will also want to pay attention to how easy it is going to be to reach your store. In an ideal situation, you would want to choose a place that is easy to reach via public transportation. In addition to this, you will want to select a location which has ample amounts of parking for people nearby. These locations are, obviously, going to be a bit expensive, so if you do not have much of a budget to play around with, it will be fine if you make a compromise here and there.

3. Marketing is going to be one of your biggest expenses as a company, and you will want to try and reduce this expense as much as possible. One of my best suggestions is to choose a location that is highly visible. You want a location where people can walk by, quite regularly, and see what you have to offer. If you choose the right location, you will have people spot you without you needing to spend money on advertising.

4. Clothes shops are notorious for break-ins, particularly the higher class ones, so do make sure that you select a decent area to place your shop i.e. you do not want to open up in area which is known to be a hot bed of crime. If you are opening your store in a trading estate, or a shopping centre, then you may wish to ask about what type of security is available. After all, you do want to make sure that your clothes are as well-protected as possible.

5. Finally, rent is going to be a major contributing factor. It will cost more money for the ideal store, but do bear in mind that the more money you pay for a location, the likely the better it is going to be for your business, and the more money you will be able to generate. Before you settle on a final place to open your store, it is absolutely vital that you think about whether you can balance the books with the amount of rent that you have to pay. Find out what your breakeven point is going to be.

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