Electronic Merchant Systems: How to Choose The Right Location For A Retail Store

Cleveland, Ohio -

Cleveland, OH based Electronic Merchant Systems recently published an article titled ‘How To Build Your Store From The Ground Up.’ Shared via the company’s blog space, the post explains how a business may choose the right location for a retail store and what factors can make a particular location ideal for a new enterprise that is looking to grow. EMS, as one of the top suppliers of electronic payment systems in Cleveland Ohio and across the United States, offers a unique view into the world of retail and the how and why behind the success of certain businesses. Their post on choosing the right location for a retail store has proven very helpful to many readers already.

“Online retailers have the advantage of being accessible anywhere at any time,” says the post. “However, studies have shown that 55% of shoppers prefer to purchase from a retailer with a physical location. No matter what type of business you have, there's no way to replicate the experience of shopping in a store through a computer screen or mobile device. This gives you, the new business owner, a distinct advantage. Capitalize on that with a great retail store location that attracts your customers and encourages them to visit repeatedly.”

Most new retail store owners opt to purchase an already built storefront in order to build their own store. While they may need to do a bit of remodeling, such as adding new countertops or light fixtures, they generally choose places that require minimal work to be serviceable. This makes choosing a good location the most important part of establishing a physical place of business. There are a number of questions aspiring store owners can ask themselves when determining what location is best for their business.

The first question is where their potential customers live. Different demographics have different needs and thus visit different stores. By identifying what kind of customer a store is aiming for — and then choosing an appropriate location — retail store owners ensure that their target demographic is within easy reach. This also applies to similar questions, including where potential customers work, what they do for a living and what kind of transportation they usually use. The answers to all of these questions can offer the aspiring retail property owner a great idea of the kind of place they should be looking for.

Once the general area has been determined, aspiring store owners can then take their own preferences into consideration. This includes what kind of building they would like to house their business in, how much space they need to display their products or perform any services their business performs, and perhaps most importantly, their budget.

The blog post says, “If you choose a location in a mall or shopping center, you will have a high level of foot traffic, and you can invest less in advertising/marketing, as long as your target customers are frequenting that location. However, if you choose a location off the beaten path, you will need a strong focus on marketing to get customers in the door. Another helpful element to keep in mind is your neighbors and nearby competition. Take note of the businesses near your potential space and consider whether their presence will help or hurt your shop.”

There are many different types of locations that provide unique shopping experiences. Each space has its benefits and drawbacks, depending on what kind of store the owner wishes to open. With the help of EMS’ blog post, aspiring retail space owners can figure out which one is right for them and their business. The article is part of a series of posts aimed at new businesses. The first is about how to create a business plan, the second is about choosing a location, the third is about marketing and merchandising and the fourth is about promoting customer loyalty. Notably, more posts are planned for the near future.

For more information on building a successful retail store from the ground up, visit EMS’ website and read their blog posts. Visit the following link to read further: https://www.emscorporate.com/news/how-to-build-your-retail-store-from-the-ground-up-part-two.

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For more information about Electronic Merchant Systems, contact the company here:

Electronic Merchant Systems
(800) 726-2117
info@emscorporate.com
250 W Huron Rd #400
Cleveland, OH 44113

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