Retail site selection essays examples

Site selection is the act of conducting a study on various sites so as to choose the most appropriate location for business. All business activities have different requirements. A business located in a suitable location is likely to do well. It is, therefore, necessary to analyze the locations available before setting up a business, so as to identify the most favorable location. This article contains a summary of the study done to establish the most suitable location for retail store (Cyber Training for Healthcare). This store will deal in selling of smart running shoes and apparels. The store will also offer technical devices that will incorporate the training items into all-inclusive and custom-made training. The article contains the most suitable mall and its advantages over the rest of shopping malls.
The most suitable shopping mall for setting-up Cyber training for Healthcare is the Hilldale Mall. It is located in Fishers demographic block. This location is the most appropriate location because it has some advantages that override the rest of the shopping malls. These advantages are;
– High Population
The mall is located in a demographic block with a population of 31, 825 people. The shopping center is also close to Fishers that has a population of 33, 885. The higher population may mean a larger market. The broadened market will result into high sales volume. The population in Hilldale area is comparatively high compared to the rest and is the reason it is most suitable. Higher population is a reflection on the higher number of customers.
– High Household Income
Hilldale mall is located close to Fishers that has the highest household income. The household income in Fishers is 109, 049. The value is way higher than the rest of the demographic blocks. The higher household income shows that the people are more likely to spend on buying training equipment. Those regions with lower household income are more likely to register low sales volume.
– High sport equipment purchase volumes
The Hilldale mall registers a sports equipment purchase of 2, 335. This value is relatively higher compared to what is registered by other malls. A high value means the shopping mall is preferred compared to the rest and, therefore, is most suitable. The Mall is also located in close to Fishers which has a huge volume of sports purchase, 3, 671, 553. The high value means availability of market, and thus, when the store is set up in this region it is likely to sell more volumes compared to when it is set-up in other regions.
– Higher Retail space
The retail space available in Hilldale mall is 1, 327, 824. This value is large compared to other shopping malls, showing that more space is still available for the retail store to flourish. Those regions with less retail space available mean the market is overcrowded, and hence, retail business cannot flourish.
– Higher level of college education
The store deals in equipment that target those who are learned, and thus should be located in those areas with a high proportion of adults with college education. The Hilldale mall is located in a region with a proportion of adults with a college degree at 0. 62. The value is relatively high compared to the rest. The store will also benefit from the neighboring region, Fishers, which has the highest proportion of adults with college education, 0. 74.