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Location, Location, Location! Chapter 14

Location, Location, Location! Chapter 14. BCEN 2900 Entrepreneurship. Is Location Important?. When is the last time you opted NOT to go to a retail establishment or restaurant because it was not convenient to get there?

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Location, Location, Location! Chapter 14

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  1. Location, Location, Location!Chapter 14 BCEN 2900 Entrepreneurship

  2. Is Location Important? • When is the last time you opted NOT to go to a retail establishment or restaurant because it was not convenient to get there? • Can you think of instances when location was not an important factor in your purchasing decision? • Or, to get out of retail, in what types of businesses might location NOT be an issue?

  3. Choosing the Proper Region and State • What goes into this decision? • Nearness to markets • Nearness to raw materials and suppliers • Wages • Labor supply • Business climate • Taxes • Internet access

  4. Choosing the Right City • What is the population doing? • Who is your competition? • What is the community like? • What are the local regulations? • What is the quality of life where you want to locate your business?

  5. Choosing a Site for a Retail Business • Competition and Substitutes • Transportation • Ethnographic issues • Traffic • Parking • Expansion potential • Visibility

  6. Options for Retail Locations • Central business districts (The Square) • Neighborhood centers (Kroger strip mall at Hwy 96 and Rutherford) • Community centers (Strip mall with Wal-mart on Rutherford) • Enclosed malls • Regional shopping centers (Cool Springs, Brentwood) • Superregional centers (The Galleria, Birmingham) • Lifestyle centers (The Avenue) • Power centers (Between Wal-mart and Stones River Mall) • Outlet centers (Prime Outlets, Lebanon)

  7. Choosing a Site for a Manufacturer • Zoning regulations apply • Transportation important • Need trucking? • Need railroad access? • Nearness to suppliers important • Becoming more important as fuel costs escalate • Foreign trade zones • Only pay tariffs on parts and finished products that stay in the U.S.

  8. External Considerations • Appearance • Entrances • Window displays and views inward • Compliance with ADA • Signage

  9. Interior Considerations • Lighting • Ease of flow through facility • Ergonomics • Lighting • Décor and color scheme • Appealing to consumers’ senses

  10. Layout • What Is It? • Display items in an appealing manner • Take advantage of customers’ behaviors • Maximize the rent you are paying by optimizing space usage.

  11. Layout for Manufacturers • Product layout • Process layout • Fixed position layout • Functional layout • Ergonomic, process, product, and economic considerations are all important!

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