Site Selection criteria for Business
Site selection for a store or restaurant is the most critical strategic decision a retailer has to make.
1. Nature of operation
If your business is retailing, do you want a traditional store, or would you like to try operating from a kiosk or booth in a mall or a cart that you can move to various locations?
2. Demographics
First, consider who your customers are and how important their proximity to your location is.
3. Customer Count or traffic
For most retail businesses, traffic is extremely important.
4. Employee availability
Another essential point to consider when choosing a location for retail business is to inquire about the availability of the staff you need. It will be cost-effective if plenty of workforces is available in the locality of the retail business.
5. Parking and Transportation
How accessible the location will be for everyone who'll be using it for customers, employees, and suppliers.
6. Number of Competition
The location also depends on the number of competitors in the area. Choose a location that is not very competitive unless you can offer retail services that others find it hard to replicate.
