4 Steps in Choosing a Store Location Evaluate residents and existing retailers Shopping Center or standalone Select location according to nature of business Analyze sites in specified location type

Site Evaluation Checklist Customer Traffic Number of people Purchasing power of customers Psychographic types of customers Vehicular Numbers of vehicles Traffic congestion Type on vehicle in-out Parking Facility Numbers of parking spots Walking distance to store Availability of employee, truck loading

Site Evaluation Transportation Accessible by public transportation Ease of delivering and loading Mass Transit Store Composition Competition around Retail balance Numbers and sizes of stores in area Occupancy Rent or lease? Maintenance costs Size, shape, of lot vs. rental charge

Types of Locations

Promotion for Each Type of Location Shopping Center Business District Stand-Alone Prominent display & good signage Focus on variety not pricing Quick service & easy menu New promotion to attract visit Destination place with deep selection of items Competitive pricing to attract customers

Equipment Refers to implements used in a business’s operation. Includes machinery and tools needed to carry out the main physical labor of a business. Forklifts, mechanic’s tools, and computers are all equipment in this sense. Equipment also includes things used in managing the business or selling its products. This means that furniture and appliances (like telephones and hairdryers) are equipment.

Fixtures Supplies Inventory attached to the building or thought of as part of it (like ceiling lights and display cases). Supplies are items that are used up in the operation of the business. They may also support the administrative side of the operation. (Materials like computer paper, pens, or paper clips, shampoo.) Inventory refers to merchandise purchased by a business for eventual resale.

Equipment, Supplies, Inventory