How to open a new store
Conduct a demographic study of the area (microdistrict) of the city in which you intend to open a retail outlet. Try to answer the question whether there is a stable demand among its population for the group of goods that will be represented in yourscoree. If demand is obvious, then also evaluate the purchasing power of the population: if its representatives have the desire, will they also have the opportunity to buy your goods?
Assess the level of competition in the existing industry in your chosen territory. Study in detail the points of potential competitors, visit thesescoreah yourself, try to see the strengths and weaknesses. In some cases, the presence of strong competitors, especially points belonging to large retail chains, can mean to you the complete impossibility of doing business in a given place, so you need to be sober in assessing your capabilities.
Inquire about rental rates or real estate prices in the area where you are going to open a sales point, depending on whether you intend to rent or acquire a property.It is also worth making inquiries about what kind of relationships between entrepreneurs and local authorities prevail, and whether it’s not a problem for you to get a green light here from officials. An entrepreneur who is not familiar with the local order may face such “pitfalls” that he hadn’t had any idea about before.
Try to “test the soil” and on the other hand, whether your activity will not cause complaints from ordinary people, especially those living in the immediate vicinity of the future.scorea (in the same house or neighboring houses). It happens that the frequent complaints of people force the entrepreneur to withdraw from one place and look for something new, so it’s better to think about the reaction of the population and the means to increase its loyalty in advance. Only after such a comprehensive marketing and sociological research do you begin to take concrete steps to equip yourscorea, whose chances of success after thorough information training will increase significantly.