There are many components that make up a successful street front location. We can gain a significant advantage by using detailed statistical and demographic information to help ensure your success with each potential new site.
Below, we’ve listed our top 15 site selection tips to help you get an edge over your competition and ensure success. You may also want to compare some of these items to an existing successful location for additional information.
GENERAL ELEMENTS (The Neighborhood)
TRAFFIC OR VEHICLE COUNTS: Information on the estimated number of vehicles passing through the retail node is very helpful in determining the success of the potential area and site.
PEDESTRIAN TRAFFIC COUNT: data that estimates the number of pedestrians passing through the potential site during certain parts of the day; this also helps us understand the market audience and the retail node.
RETAIL TRAVEL DIRECTION: Generally, if the retail node runs east-west, with the retail locations facing the north and south side of the street, the greatest pedestrian flow is usually on the north side due to the sun shining from efficiently on this side of the street. the street. Therefore, true retailers generally prefer the north side of the street, which corresponds to higher traffic flow, higher rents, and more sales revenue. Destination-type retailers may sacrifice traffic flow for reduced rent; it is generally assumed that the customer will venture across the street to visit your store…rather than an impulsive purchase.
PARKING: Parking is an important element of a successful street-front commercial node and location.
PUBLIC TRANSPORTATION: Access to buses/trams/metros is an important element and considerably increases the flow of pedestrians.
DEMOGRAPHICS: The demographics within a specific business area can go a long way in helping us understand the node and customer base. Using certain statistical and demographic information, as well as comparing some of these items to existing successful locations, can also help assess the success of a proposed location.
HOUSEHOLD SPENDING: Household spending, within our type of retail business and within our defined catchment area, can help us understand the area and location; They can also give us some estimated projected sales figures.
MAPPING: Mapping the area with competitors, traffic generators, parks, public transportation stops, etc. can also help us understand the potential area and site.
BIA: Talking to your local Business Improvement Association can also give us a good idea of the local flavor regarding the needs of customers and area residents.
SPECIFIC ELEMENTS OF THE SITE (The site itself)
FRONT: The larger or wider our potential location, the more exposure and signage, etc., it gives us better merchandising, better visuals, and generally provides a better shopping experience.
CEILING HEIGHT: Higher ceilings provide a more comfortable and spacious feel, which generally encourages more positive results.
GLASS/FRONT: Shop windows are the main stage of the shopping experience. It is very important to have the right “look and feel” for your concept. If necessary, the storefront may need to be modified or reconfigured to reflect your brand.
FLOOR PLAN: An important element in your site selection… your store location should not feel “long and narrow” or too “open and boxy”. A typical 1,200 square foot commercial space would be well designed in a dimension of 20 feet wide by 60 feet deep. This provides adequate frontage for exposure and depth for marketing.
ON LEVEL: The potential site should be level or level with the sidewalk or driveway… steps leading up or down negatively impact the shopping experience.
Flow: The potential site should be located in the area or side of the street where the pedestrian flow is greatest.
Site selection is critical to the success of your business. The information in this article can help you get started by giving you the basic foundation for a strong retail location. However, more detailed information on each variable is available when a more comprehensive and detailed assessment is needed or when an informed decision needs to be made between different sites.
