Retail placement is one of the most important elements to consider when planning to buy or start a business. Retail placement is not limited to street address; there are other factors that make a location good or bad.
A Good Retail Placement Strategy Considers Area Demographics
A location with plenty of traffic is a good start. The more people who walk or drive by the business, the more who are likely to visit. This is only one element of retail placement, though.
Another important aspect of retail placement is whether there are other stores that offer the same services nearby. Two of the same type of store next to each other will only be detrimental to both locations. How close is too close? That depends on the type of business and how far customers will be willing to go to acquire those particular goods and services.
The type of customer the business wants to attract is another factor. For example, the biggest buyers of comic books are young men, 18 to 24 years of age. This makes a college town a great choice for a comic book store. The same area would be less hospitable to a store that sells children's clothing.
An interested buyer can search the IBBA by region, country or continent. This is a good first step in a search. Remember that only brokers can add or inquire about properties on the list.
As a full-service brokerage company, RPI Commercial can help prospective owners to find the right placement for a new business or the perfect existing retail or service company. Call 1-877-549-5210 or send an email to firstname.lastname@example.org for more information.