One might ask, what are the ingredients of a winning site? I am going to try to answer the question in a very general way. The truth is that, only you know your business and what might work for Bank of Anywhereville, is completely different from Supermarket Deluxe. However, there are some basic elements that go into a great site, so here are the 5 Elements YOU need for a winning site:

  1. Visibility/Frontage: if everybody can see you, you are much better off.
  2. Access: it’s great if everybody can see you, but stinks if it is hard to get to your retail store. People love convenience and getting to their destination quickly.
  3. Co-Tenancy:the people that surround you are very important. The right Co-Tenants could make or break a site.
  4. Management/Appearance: you might have a great site with visibility, access, and good co-tenants, but if the center looks and stays crusty and dusty you better believe, that center is a center in decline and the other tenants are going to not stick around there for too long.
  5. Demographics: this is the location of your business and it is important to realize that your customers need to be around you. You need to know the profile of your customer for marketing, merchandising and to really know if the location is a viable location for your business. It makes no sense to open a Steakhouse in a community that is largely Vegan/Vegetarian. Your business is not going to do well even if you have the other factors working in your favor.

All in all, if you have these things working in your favor, you are likely to have a very good retail location for your business. However, you know your business the best.