Location is an important consideration to make when setting up a business that relies on clients coming in through the door to make purchases. It affects the level of your competition, who your clients are and where they are coming from, as well as the strength of your relationship with suppliers in your field. Because of this, many a business owner has whittled away hours of their time thinking about the perfect location for their stores, and for good reason. However when thinking about where to set up shop, there are a number of factors to consider if you want to get it right. Let’s take a look at a few of them here.
While your clients will more than likely to travel a bit of a way to visit your store, even they have their limits. And the simpler you make it for them (especially in this age of online shopping), the more likely they are to grace your premises and maybe even return. So think about where your target audience is likely to be concentrated and do research on their location. Then pick one that is not far off from them.
The location of your suppliers is an easy factor to overlook when deciding where to open up your store. As a service provider, it is easy to assume that they should come to you, no matter where they or you are. The truth is that this makes things difficult for them, and in some cases, may make them unavailable to you. So consider the location of your supplier carefully when selecting a location. While they might not need to be right next to you, they need to be able to make deliveries with relative ease, especially for deliveries that need to be made on short notice.
If there are hundreds of stores just like yours in retail shopping centres in Johannesburg South, but none on the East-Rand, then it makes sense not to set up shop right next door to your competitors. They certainly wouldn’t be happy about it and you will be vying for a limited market-share. By opening up where there is less competition, you will raise your chances of success substantially, since you won’t need to be competing for your clients’ business.
Meyersdal Square provides an ideal and central location for businesses of all types. If you would like to learn more about conducting business with us, be sure to contact a representative of ours, or visit our website for further information