If you want to start a business selling retail products, the location of your store is a key factor that will have a big impact on your business. The temptation to choose a cheaper place, although not as well located or have less facade, or any other factor that cheapen the cost, can also mean the difference between success and business failure.
Before choosing a place to set up your business, it is important to take into account factors such as the type of home that appeals to your prospects, visibility from the street, the importance of being very visible, if customers are looking for you or is you who should be noted, how much space you need, etc.
In addition, the type of products that will sell well is an important factor to consider. In this regard, you may want to choose a local in a commercial area where there are more businesses similar to yours (for example, a fashion store in a shopping center with more clothing and shoes), or maybe going to put a store specializing in something concrete and more interested installed near a related area (eg shop near a fine arts center arts education).
Another key factor to keep in mind when choosing the location of your business is the people and, if necessary, tourism, as well as their age. In any case, you need to estimate how much potential customers offers that population.
Accessibility, visibility and traffic in the area are other factors to consider in assessing the location of your local. If your local is easily accessible and visible more likely that customers will visit. The traffic is also an important factor. It depends on what kind of business it is, you may want located in a pedestrian area, but may also be interested in your home is in an area of easy parking.
Of course, you can not forget the competition. In some cases, as we said at the beginning, being in a commercial area where there are more shops like yours can be an advantage, as customers flock to buy from that area when seeking products like those you sell or complementary. But at other times, you may want more locate his shop where others offer their products.
In any case, although the cost of the premises is an important factor, do not hesitate to spend more on it if that allows you to generate more revenue. If your local is not visible enough or big enough, or does not have a sufficient window, you may find it costs more money to fill these gaps which would have cost to settle in a more expensive place.