When choosing a location it is important to think about the potential increase in revenues and expenses, but there are several things that will impact the bottom line. A few ideas to consider when determining the proper location are listed below:
The following list gives entrepreneur's a few things to consider when determining location:
- Operations and Equipment: Does the potential location offer enough space for operations and equipment?
- Customer Convenience: Is the location easily accessible? Do customers feel safe at the location?
- Parking: Is there ample parking? (For customers & employees!)
- Service and Sales: How will your sales be impacted by the new location? Will walk-in traffic be generated easily?
- Inventory: Will you be able to store/display as much inventory as you will need to make a profit?
- Study: Consider completing a market survey to help narrow down the best locations.