The Motley Fool Discussion Boards
Education, Jobs & Professions / Self-Employed Fools
|Subject: Re: Location, Location, Location?||Date: 5/22/2002 2:08 AM|
|Author: desertdaveataol||Number: 5841 of 14985|
As part of a school project, my niece recently emailed me a questionnaire asking about my business. Here is my answer to one of the questions. My business (surplus) is different from yours, but I think you'll see that my reasoning can be modified and applied to any business.
I choose my locations carefully. All three locations (the first we leased, the second I had built for me and leased and the one we own and are in now) are on the RIGHT side of the street as the GI's LEAVE the base. (Even if I were willing to get up at O'dark thirty to open for them as they were racing to make morning formation they wouldn't have time to stop on the way in to work.) Likewise, during lunch hour, nobody wants to fight his or her way through a left turn to get into a store. Especially if they know they'll have to do it again to get to Burger King for lunch. By being on the RIGHT side of the street as they travel off base to home and lunch I make it easy for them to turn into the store on the way.
I choose my locations carefully. All three locations have (or had) a large parking lot. If they can't park by the door many homeward bound people will decide to shop another time.
I choose my locations carefully. All three locations are (or were) on the far side of intersections as the homeward bound GI approaches. This gives the customers more time to see my signs and decide to stop in.
I also use signage to stake out my location. All of my stores have (or had) large (three foot) black letters spelling out our store name on a solid light yellow background. The current store has four foot yellow letters on a solid green wall.
As to how did I find the three locations? I drove, walked and watched the neighborhoods first to see traffic patterns. This, of course, after I'd decided who I wanted my customers to be.
In your case I'd want my “family entertainment business” to be in or near an upscale neighborhood. (Unless you have survey data showing poor people spend more on family entertainment.) I'd want to be on a main thoroughfare and/or by a large, well-used park, playground or sports facility.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|