location Flashcards
factors affecting choice of location
Visibility: stores that wish to attract retail-based customers would seek high visibility. Foot traffic can be important, specially for a café.
Cost: consider the cost of your location. Some strips might cost more, some shopping centres may cost more.
Proximity to suppliers: allows for more items to be transported to the store and easier access to the goods and services it requires to function.
Proximity to customers: a place where customers are more likely to visit. This is impacted by transportation options and parking.
Proximity to competitors: more competitors close by may generate more potential customers but could also be a challenge for a business.
Complementary businesses: this may bring more potential customers to one location. For example, home maker centres often have furniture and electrical stores in close proximity.
