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Thread: Retail Location Selection Service for Small Business

  1. #1

    Question Retail Location Selection Service for Small Business

    We are starting a new retail business here in Southern California and are looking for a company that specializes in evaluating potential locations to identify those that will maximize profits while minimizing expenses.

    Problem: So far, the only replies I have gotten off of the 10 or so companies I have found that advertise this state that they only work with large companies, factories, large employee groups, etc. We are not that big.

    Question: Does anyone know of any companies ..or a way to find such companies.. that work with small retail businesses to help them find the best location to setup shop?

    I am also open to any advice from members of this forum regarding location selection.
    Thank You.

  2. #2
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    Patrysha's Avatar

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    Most small businesses either skip that step or do it themselves the best they can. Not because it's not important, but because most don't set aside enough funds for the research phase. I don't know anyone who specializes in small scale retail but a few places I can think of to find them would be checking with your local chamber of commerce, ditto your local SCORE office or branch of the SBA in your community, retail marketing association, your industry marketing association (like if you specialize in toys you'd go there, home and gift? then their association or trades show might connect you, your potential distributors/suppliers...they might know someone...

    Hope this helps!

  3. #3

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    With retail businesses you must think about how you will get your customers. There are usually two different type of customers, those that happen to find your business by chance and those that where marketed too directly. With the ones that finds your business by chance you generally need to be located in a place that already has decent traffic, like a plaza, mall, strip mall or along a busy street. So having a retail store in this location means that you won't have to worry about expensive marketing plan to find these customers. The issue with this is that many retail start-ups can't afford these locations. The other customer are the ones that know about your business and specifically travel to it. With these type of customers you will not have to worry about the location of your business, just make sure that it is within the metropolitan area and easily accessible. So if you can afford to start a business in a high traffic area go for it, if not just know that there are many successful retail stores located within a metropolitan area, with a loyal and great customer base which they gain by doing a great marketing and promotion campaign.

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