Investment 5 to 10 Lakhs
Space required - 500 Sq feet approx.
Have you ever wondered why some big brands pull down the shutters of their shops even though their products are good, the price is right and the customer service is A-one? Well, if you take a poll, be sure, along with other reasons; bad location or imperfect location will get more heads nodding in approval.
It is a tactical and long term speculation which needs deliberate decision, because once invested, the capital is irreversible. Hence, a good research involving financial, technical, commercial, social and political viability before zeroing in on the desired location will save one from making a wrong decision and suffer consequent losses.
Let us now see some factors that should be considered before arriving at a location
First and foremost, do a trade analysis to know population characteristics, trends, purchasing power, business climate, competition in the speculated area. Also carry out a thorough search of the area to know where your customers live.
Know the accessibility of the shop, what is the traffic on that particular road, its visibility from main flow of traffic, status of public transportation (from customer, self and employee point of view) there, parking space, police station, fire station etc. Accessibility should also be considered from the point of view of employees.
Consider all costs before deciding on the location, maintenance, utility and security etc. And also calculate expected returns while keeping in mind the time of break even. Also add personal costs like time and money spent in reaching the location and in reverse order etc, restrictions on community can also make a lot of difference.
rs and omissions of goods stored by various traders. Hence, a strict control over the warehouse is essential on a permanent basis. A permanent officer should be appointed for proper arrangements of incoming and outgoing goods.