If you have heard it once, you have heard it 1000 times. The three most important things in retail are Location, Location, Location. Just ask anyone who has set up a new business with great signage, great service, great products and a great idea and yet no customers.
Move down the street or around the corner to where the street is packed and the parking plentiful, and the story is completely different.
I have a friend with a very successful food concept that has won awards, acclaim and the love of the people. He took his concept to a strip mall in a populated area with a demographic that would love his food. He opened his doors after months of hard work putting his restaurant together, painting it, adding new signs and new equipment. It was shiny and perfect and the food was hot and ready to go. But no one showed up. At least not enough for him to survive.
You see he opened in a place with little foot traffic and less parking. Many cars drove by, but few stopped. He was noticed but was not shopped. And, his place was even more noticeable when it closed. Not a good thing.
Yet another joint opened not far from there at a major intersection with a ton of white collar workers, many of them young and hungry. This was an entirely new concept with no known quantity. No one knew anything about the place. But, it was packed from day one…and remains so today. The concept was good but the location was better.
If there is a moral to this little story it is to not let your ego supplant your good sense. Do your homework before opening your place. Walk the streets. Hang out there morning, noon and night. See who is successful and gauge why.
And, let the location be your guiding light.
