A great business idea isn't worth the first months rent if it’s put in a bad location. If you can’t justify the expense in the rent column, shift some of your rent to your advertising budget. Your location is one of the three most important elements of your business and may be the most important starting out because it can be very difficult to change.

Moving is expensive, so let’s get this right the first time. When you’re a retail operator location means storefront. You’ll want something easy to get to, with an address everyone recognizes. Traffic count is important but so is traffic speed. Two hundred thousand cars a day may sound great, but if they are traveling 70mph on the freeway while you are on the access road you could be out of luck. If possible, avoid any part of the street that has a median unless there is a turn lane cut through pointing directly at your store. Being on a corner is better and signage is always vital. Lots of glass in front makes a store more inviting and leaves your sign options open. Let’s not forget parking. Because, if you do this right, you’re going to need plenty of it.

A good location will help insure that the customers you win over today will return tomorrow. Your advertising, if done well, may drag them in once regardless of how easy or hard your store is to get to. But will they return if the thought of your establishment causes visions of road rage. Before renting, or buying your spot, try entering and leaving the parking lot several times, at all different hours and days. A phone call to the highway department to inquire about planned future construction in the area could be the difference between meeting with success or with a bankruptcy attorney.

Picking a location on a street that is well known is a great tactic. The longer the street, the better the chance is that people will recognize it. If possible, pick a good number. 1800 Main Street is much better than 1137 Main Street. It’s not just easier to remember, it sounds more prosperous. While looking for the future home of your business remember, your employees will be giving directions to it a thousand times over. Think to yourself how you would describe the way. I have seen many businesses hidden out of the way with little signage and no street visibility. In retail business you must always think of how to make money first. Saving money comes second.

Always check zoning to be sure what you intend to sell or do is allowed. Look at the neighboring business. Do they look successful? How long have they been there? Is this the right place for your business? What might be the perfect home for Tiffany's would be a less than desirable location for a Dollar General.

Once you've got the place picked out the work has really begun. The lease you sign is going to make a noticeable difference to your bottom line. But that's a topic for another day.

Rick Culleton
DiscountElectronics.com