Putting It Together: Trade-Area Analysis and Site Selection

The location, the demographics of the population, how many people live within the trading area, secondary trading area and fringe area, along with many other variables need to be evaluated when you are putting together plans for any retail location. Even online businesses need to know their market in order to advertise appropriately and reach the right consumers.

There are so many different facets to retail operations, and the location you choose to open your business is by far the most important. Knowing your competition, and businesses that may help your business thrive are important aspects as well. Building a new business is tough, so use all of the available resources to help you find the perfect location with the perfect consumers.