How’s the visibility?
Do your demographics align?
Here’s a quick look into how I evaluate location.
They say, “Location! Location! Location!” but what does that really mean?
Pro Tip: Start from The Inside Out
As opposed to taking a concept and forcing it into a market, examine the market, and see where the white space is for something new or complementary to exist. This requires flexibility and patience but can mean better long-term success.
Once you have your concept, here are a few categories to evaluate your potential locations:
- Visibility: Look for great visibility for drive-by or walking traffic
- Neighbors: Are complementary businesses with similar demographics nearby?
- Future: What is the current and future landscape?
Stay in tune with the current situation of your location and what might be a future opportunity. A good location will allow for greater sustainability.