Location and hours of operation are two very important success factors in establishing a retail store, certain specialized service businesses or a combination of the two. Proximity to your customer/client base plus visibility, in most ventures, will maintain and support an on going business as well as aid in the necessary growth.
Of course, location goes hand in hand with hours of operation. Daily hours must meet the customer/client needs, while remaining economically efficient for your overhead. Unjustified added expenses, created by longer hours, without generating revenue-producing profit will result in a loss that may inhibit your continuing business operations. There is a fine line between following a specifically designed business structure and prematurely changing direction causing the possibility of harm or damage by overextending monetarily.
The following are general "rules of thumb" regarding location and hours of operation:
- location reflects your customer base;
- people generally shop within five miles of their home;
- convenience of store/office (if customer/client comes to you);
- business hours should coincide with customer/client schedules;
- unrestricted, safe access from street and traffic;
- adequate, well lit parking areas.
A proper location and suitable hours of operation today could mean greater business success tomorrow.
To help establish your specific business "Location and Hours of Operation", SCORE, A Resource Partner of the U.S. Small Business Administration, offers free, confidential one-on-one business counseling with experienced executives plus a day long monthly Workshop for a nominal fee. For the location, phone number and counseling hours of the office nearest you, call our main Dallas SCORE Office at (214) 987-9491.