Choosing The Right Location

Choosing The Right Location
A – Z elements for Site Evaluation & Selection

1. Accessibility: means of reaching the site from the neighbouring areas and main streets.
2. Air-conditioning: meeting the required business specification and standards.
3. Annual rent: the suitability of rent in comparison with expected turnover.

4. Businesses clustering: types of other businesses available in the area.

5. Compliance with state regulations: adequate space to accommodate health, security and emergency regulations.

6. Direct competition: businesses that are in the same category.

7. Economic base: income levels of individuals and families in the area as related to their spending power.
8. Education facilities: universities and schools near the location.
9. Electrical power facility: to accommodate the nature of the business and its operational requirements.
10. Entrance(s) possibilities: entry and exit with the sufficient control and security.

11. Foot traffic: the number of pedestrians over different periods of the day.
12. Future development of the area: the construction activity in the area which indicates the potential growth & development.

13. History of the site: pervious successes or failures of the site.
14. Home or business direction: according to the market segment and type of clientele it attracts.

15. Land marks: availability of well-known buildings, monuments or famous designations.
16. Lease terms on re-modelling: the conditions of the contract allowing for architectural re-modelling?
17. Leasing options of renewal: conditions of rent contract renewal
18. Licenses & approvals: health, ministry, water supply and sewage approvals.

19. Major trade(s) or industry(ies): which influences the buying power of the targeted market segment.
20. Marketing/site relationship: the marketing budget required to market that particular site.
21. Medical facilities: hospitals and clinics availability in the area.
22. Municipality & local laws: municipality and state regulations for the area and the possibility to obtain required licenses and approvals.

23. Neighbouring brand names: well known retail stores with good brand names in the area.

24. Overall competition: other retail stores in the area.

25. Parking availability: varies according to expected traffic to the location.
26. Parking space development: any development required for the parking area to be suitable and convenient for store visitors.
27. Population density: the targeted market segment as related to the population of the area.
28. Public services: other services offered in the area as an indication of area development.

29. Re-assignment options: the possibility of renting the site to a third party.
30. Receiving area: a requirement for some businesses.
31. Rent Payment: conditions of the rent contract in relation to terms of payment
32. Restrictive ordinance: are there any laws that may hinder the establishment of the business in the area.

33. Sign(s): the possibility to erect different types of signs
34. Social base: level of income of the target clientele as related to the buying power of the prospect customers.
35. Speed of motor cars: the site is not suitable if the speed exceeds 50 km/hour.      
36. Spending power: of the target customer base
37. Street lighting at night: the level of lights in the street at night.
38. Sufficient area for product & service allocation: receiving production, storage, customer area, staff and customer utilities administrations.
39. Sun direction on the site: preferably on the shaded side of the street.

40. Visibility: the possibility to see the premises from distance.