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The Complete Guide to Choosing a Store Location

4 minute read

How to Analyze Retail Locations

In order to compare potential locations, it is necessary to evaluate the features of each location in terms of:

  • Catchment area (customer traffic prevalence)
    • Primary: 60% to 80% of potential customer traffic.
    • Secondary: 15% to 60% of potential customer traffic.
    • Tertiary: Less than 15% or occasional potential customer traffic.
  • Occupancy Costs
    • Lease vs. Purchase.
    • Security Deposit Amount.
    • Utilities.
    • Property Taxes.
    • Community Fees.
    • Maintenance costs.
    • Insurance costs.
  • Restrictions
    • Service hours.
    • Noise intensity.
    • Product display.
    • Media display.
    • Advertising and promotional efforts.
    • State or county-enforced hours of operation.
  • Customer Convenience
    • Proximity to residential neighborhoods.
    • Bus stops.
    • Parking space availability.
    • Parking costs.
    • Customer facilities.
  • Competition
    • Nearest location of competitors.
  • Demand
    • Potential number of customers.
    • Potential product demand.

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