You have heard it for years. "Location, Location, Location………….."
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The question is:
When it comes to investing in a franchise, and it requires a location, just how important is it to choose a "home run" spot?
Most franchise experts agree that the location is one of the most important facets of franchising. It needs to be large enough to hold inventory, and floor traffic. It needs to be easily accessible. It needs to have proper signage. It needs to approved by the franchisor! Here is why the location is so important.
If one were to purchase a Dry Cleaner, selecting a location may be the most important part of the entire investing process. More important than training, marketing, and employee retention.With people having such busy lives now, picking up and dropping off Dry Cleaning needs to be fast and easy. Putting a Dry Cleaner in a strip center that requires a difficult left turn into the parking lot for your customers would not be the best of choices. Unless of course you have 5 other thriving businesses, and you need a business that is losing money to shall we say, balance things out.
Investing in a franchise of your own is a fairly complex undertaking, and one that should be done with the help of experts.Most franchise companies that require a location, have a dedicated real estate department. Their job is to help you find suitable property to lease for your new business. They usually have contacts in local markets.However, they do not know the area as well as you do in most cases. Listen to their ideas, but still go with your gut instincts. Even though the franchisor must agree with your site selection choice, it is your money. You will know in your gut, if the site is workable.
I located a resource that may help you understand the intricacies of site selection.Click Here!