If you will ask some gurus about the key factors for success in the retail business, three main points that they will tell you are: 1) location, 2) location and 3) location.
There are many researches done in this industry. One of them, a research about location revealed following 7 key aspects for the best location and place for retail stores:
- Shop has to be on the first floor, otherwise 50% of clients will not go upstairs to enter.
- 70% of people will not cross the road to enter.
- 20% of people will not enter if the shop has stairs.
- Shop should be located close to the Bus/Subway stop.
- Shop should be located on the place of the road, where many people are walking.
- Shop should be inside or close to leisure/entertainment centers and shopping malls.
- Shop should be inside or close to the living and school areas.