A location can make or break a retail business. According to SBA studies, the wrong place is one of the root causes of all business failures.Yes, location is critical to the success of retail and hospitality sector because a great location brings more exposure and visibility to your target markets.
An impressive site isn’t only important for service but also decides others expenses such as costs of advertising, promotion and distribution of the products.
The location should be convenient for your customers and employees.
When choosing the best place for your retail business, your first step should be to target the right society. You might have the following questions to ask yourself:
Is the population large enough for your business?
Does the people have a stable economic base that will help your business to grow?
Does the people are educated to understand your business?
Make sure you know everything about the place before choosing that for your retail shop. I agree most business fails because of poor management, but the wrong location also equally responsible.
See how location can affect your retail business:
How much rent you can afford to pay – Your first-year profit and loss will tell you exactly how much profit you can earn. To know your rental expenses divide the total money you have decided to pay annually by net sales. Multiply that number by 100 and compare that percentage with other similar businesses to see how you will fare.
Terms of the Rent – Read rental documents carefully before you sign the lease. They might have some hidden terms.
A location is critical to the success of your retail business.
Luckily, Orris group’s upcoming commercial project Orris Market City in Sector 89, Gurgaon is the best solution for your retails shop.
Location advantage
Contact us here or call at +91-9811020192 to book your retail shop in Market City Gurgaon today at just @ Rs.7000/SQFT.