How to find the right location for a shop

How to start a shop, or how to find the right location for a shop. This is something we long thought of in our early years at Vape and Juice and we revisit it all the time as and when we expand our store territory. We thought it would be helpful then, if we made a short tutorial for you. This is our 7 top tips for finding the right shop location.

Getting the right location for a shop can be make or break. If you are a larger business with higher revenues, maybe you can swallow a loss. But for those businesses that are making their first steps in retail, it’s fundamental you get it right from day 1.

What makes us tick

I want to help anyone who follows our blog, to know that we are about adding value. So we put together this short video, to help you find out whether you are onto a winner. So if you are searching online, how to start a shop – then you should watch this retail video now.

How to start a shop

If you found this short info video useful, then we have an expanded version breaking it all down for you coming soon. You can stay on top of new videos we release at our new youtube channel The MOB Show.

In this video coming and the video above we break down our top seven criteria for finding the right location for a shop. These include:

  1. Position
  2. Accessibility
  3. Competitor analysis
  4. Services
  5. Complimentary businesses nearby
  6. Are your customers close by
  7. Lease conditions

These are not all of the factors you need to look at when taking over a new shop for your retail business. But considering these together will definitely put your on the right track. Ultimately it’s about balancing the potential risk reward also. If you have little to lose with a flexible lease and you are the only business of your type, then not ticking other boxes may be fine.

How to start a shop is a series of podcasts and videos that will chronicle our journey of opening a new retail business. If you would rather listen about our journey on how to start a shop via podcast, then check out those feeds here.

 

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