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7 Replies Last post: Oct 22, 2007 4:46 PM by accessorydiva

Finding the perfect location for your retail business

Oct 10, 2007 1:06 PM

Click to view accessorydiva's profile Start-up accessorydiva 3 posts since
Oct 10, 2007
I am in the beginning stages of my business and I am selling contemporary home accessories. Currently, I have a kiosk located in a furniture mall. My business is unique in the Charlotte area because there are not but a couple of places that sell contemporary accessories for the home. There are a lot of up and coming Condo projects and I would like to market those homeowners; but it is really difficult for me to zoom in on a perfect location to be able to make a great profit. Please help!!
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Click to view WEBillions's profile Mogul WEBillions 154 posts since
Oct 10, 2007
1. Re: Finding the perfect location for your retail business Oct 21, 2007 6:16 PM
You'll want to find a savvy commercial broker to help you find the right location. This is not as expensive as you might think, because it's the tenant who pays the broker's commission. Make sure your broker is looking out for your interests. If they only show you listings held by their companies, be wary. Before you go talk to your broker, make a list of things you need and things you want. This will make the process a lot easier. When you find a place, make sure you understand the lease terms.
Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
2. Re: Finding the perfect location for your retail business Oct 21, 2007 7:28 PM
Going into business is very hard. A kiosk is a great way to start.
Do you have a BUSINESS OR MARKETING PLAN??
You also need a real estate person, a lawyer and an accountant.
There is a SCORE office in Charlotte where you can talk to a SCORE counselor FREE.
You can also go on line at "www.score.org" and log on to SCORE Virtual Learning Center
and take 26 FREE online courses including MARKETING, BUILDING YOUR BRAND AND SERVICE
AND PERSONAL STRATEGIES TO ATTRACT AND RETAIN CUSTOMERS.
Good luck, LUCKIEST
Click to view DomainDiva's profile Mogul DomainDiva 1,732 posts since
Oct 10, 2007
3. Re: Finding the perfect location for your retail business Oct 22, 2007 10:50 AM
Have you thought about advertising in these markets to get customers at your kiosk? Some Malls are starting to do advertising for the entire mall in mail outs and flyers. Check with your mall managers to see if the owners have anything like this going on. You may also want to contact the Condo Managers/Builders and offer some design or accessory placement(s) in their models.
Click to view Biz Online's profile Mogul Biz Online 71 posts since
Oct 10, 2007
4. Re: Finding the perfect location for your retail business Oct 22, 2007 11:21 AM
Contemporary home accessories is certainly a specialty retail business, which means your store is a destination, driven by advertising. Since you already have a kiosk, I would stick to it until your client base in large enough to support your own brick and mortar store.

Once your client base is sufficient to support your own location, look for simple things like easy to get in / get out, and your store is visible from the street coming from BOTH directions.

With your current kiosk, be sure and have customers sign up on an email list, but don't present it that way! Don't have a clip board that says "join our email list," use individual cards and have a free drawing of an item once a month for those that signed up. This way, you can continue to market your prior customer base, and get referrals.

As far as capturing your condo target market, you should be able to purchase a list of recent home/condo purchasers within a specific zip code. Send them an invitation to your kiosk with an incentive for coming (discount, free gift, etc.) and have them sign up on your email list, too.
Good luck,
Cliff
Click to view accessorydiva's profile Start-up accessorydiva 3 posts since
Oct 10, 2007
5. Re: Finding the perfect location for your retail business Oct 22, 2007 4:24 PM
in response to: Biz Online
thanks for the help...very interesting ideas!!!
Click to view DomainDiva's profile Mogul DomainDiva 1,732 posts since
Oct 10, 2007
6. Re: Finding the perfect location for your retail business Oct 22, 2007 4:38 PM
in response to: accessorydiva
Have you contacted any local interior designers?
Click to view accessorydiva's profile Start-up accessorydiva 3 posts since
Oct 10, 2007
7. Re: Finding the perfect location for your retail business Oct 22, 2007 4:46 PM
in response to: DomainDiva
Yes, I have contacted a couple.