What location options are available for businesses looking for premises?
High street, suburbs, village or shopping centre?
There are several options as to where you can locate your shop:
- The high street
- Just off the high street or main shopping area
- On the edge of town or in a suburb
- In a village or more rural location
- Out of town situated in a retail park.
There are two main types of UK premises – prime and secondary pitches. Prime pitches, are the most sought after and therefore more scarce. They are also usually the most expensive, twice as much as the price of European retail outlets and arguably the better located. Secondary pitches on the other hand are generally less costly and located out of town or away from the main shopping area.
Chris Dawson, business studies lecturer at Sheffield Hallam University who has specialised in retail and distribution management, says: “Provided you have a service that people want and can afford the area you are located in, plus you are able to cover your costs then you will almost certainly succeed. After that it is more art than science.”