Focus of the week- Business
Topic-What should I look at for when choosing a location for a retailer business.
Writer- Iyere Joy
Each form of business requires some peculiar location for doing and excelling in business. What is obtainable in one location that determine its success may not be in another
Retail business
Nearness to the source of product- he locate close to where he can always get supplies. It means that the retailers location is determined by the location of the wholesaler who sells in small unit.
Proximity to large population- Retailers are found where the population is most. Their direct focus is on the population, so they tend to locate where there is a high population
Nearness to general market centers- Since they hardly have funds for advertisement, retails business locate close to where there are special landmark like general market, post offices, motor pack, railways station with ready market for the product.
Location by product- retailers tends to locate by accident or design on the basis of product type. They could locate on a particular street taking over the entire street, certain location are synonymous with particular product and retailers. This is often argued that is enhancing accessibility.