LOOKING FOR A LOCATION

TIPS THAT WE USE ON FINDING A GOOD LOCATION

• The most important words you need to know when looking for a location are “TENANT MIX”. Tenant Mix is referring to the other stores that will be located in the center with you. You want to find a location with a strong anchor, preferably a grocery store or supercenter.

• Shopping centers (strip centers) usually prove to be the best locations in towns of 25,000 or more. The rent is generally a lot less than an indoor mall and can generate just as much foot traffic. A strip center can work well, especially if there are other active businesses in the center that are compatible with your store.

• Real estate agencies are usually aware of retail space for lease. The landlord, not you, pays their fee.

• Don’t be afraid of competition in the area—you are not trying to “run them out of business”, you are simply joining in the market.

• A good location always has good visibility from a highway or major road. A good location is also easily accessible and has ample parking. Since most dollar store customers typically make quick stops for a couple of items, they probably won’t be patient enough to sit in heavy traffic waiting. Think ease of use, speed and number of spaces. You also want to make sure the parking lot has adequate lighting.

• It is good to talk to other tenants in the location you are considering; they will most likely give you their opinions.

• If you find a good location, but the space is too large, you may consider having a partition (wall) installed. This will allow you room to expand as your business grows. For initial opening—there should be enough space for an office area, storage area and possible employee break room.

• Do not be afraid of high rent if the location warrants it – A good Saturday can often more than pay for the entire month. Some locations have a lower rent for a reason (no foot traffic).

• The location should include adequate space for the display of your store name. Without adequate signage, your business will be difficult to find by your customers.

Please give us a call when you find locations you like and we will call and check on the space for you and give you our advice on it. We also have OUR OWN REAL ESTATE DEPARTMENT available to help you find a location.

NOTES ON LOCATION REMEMBER…

We know locations and how to tell if they are good or bad. When calling our offices for assistance, have your notes in hand for reference or simply fax us any information.

Shopping Center Name (if applicable):____________________________

Address of Space:________________________________________________

Contact Name: Phone Number:______________________________________

Size of Space: Rent $:___________________________________________

Comments:________________________________________________________

_________________________________________________________________

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