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Choose Your Location

Mrs . Alexander-Harrison Entrepreneurship. Choose Your Location. Retail Business Locations. Downtown Advantages – central location, attracts business customers Disadvantages – parking problems, crime, too far from suburbs, lack of evening customers. Shopping Centers

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Choose Your Location

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  1. Mrs. Alexander-Harrison Entrepreneurship Choose Your Location

  2. Retail Business Locations Downtown Advantages – central location, attracts business customers Disadvantages – parking problems, crime, too far from suburbs, lack of evening customers Shopping Centers Advantages – other stores in center attract customers to your shop Disadvantages – may attract only local customers

  3. Retail Business Locations Stand-alone store Advantages – Relatively low rent, no competition next door Disadvantages – No anchor store to attract customers, extra advertising expense Warehouse Advantages – low rent, can charge lower prices than competition Disadvantages – No anchor store to attract customers, heavy advertising, customers may unaware of your business

  4. Working at Home • Advantages • Rent, utility, insurance, maintenance and other costs are reduced or eliminated • Some expenses can be deducted as business expenses for income tax purposes • Time and expense of commuting are eliminated • Disadvantages • Difficult to concentrate because of interruptions • Loss of personal interactions that come from working outside the home • Easy to spend more time working on the business than desired because the business is run from home

  5. Commercial Leases • Gross Lease • The tenant pays each month for the space occupied and the landlord covers all property expenses, such as building insurance, property taxes, and maintenance • Net Lease • The landlord pays building insurance and the tenant pays rent taxes and other expenses. • Percentage Lease • The tenant pays rent each month, plus the landlord receives a percentage of the tenant’s revenue each month

  6. Layout of a Retail Business • Some ways you can send a positive message about your store are: • Choose lighting that is appropriate for the kind of merchandise you sell • Think carefully about window displays • Make the entrance inviting • Use common sense when organizing the merchandise in your store • Leave at least four feet of aisle space • Create attractive in-store displays • Use wall space wisely • Place the cash register in a central location

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