Perhaps, more than once you have exclaimed " the success of this place is its location ". Having an innovative project is the beginning of all good entrepreneurship, but if the company is not located in a strategic place , where the target audience identifies it, that creativity will be useless. The location - successful business relationship is very important, and it is one of the points that most entrepreneurs leave at the end, says independent real estate advisor , Claudia Elena García. The first step to define the location of a company is to carry out a market studyof the real estate offer that exists in the area that you consider suitable to install the business, says the coordinator of the Entrepreneurs program of the UNAM Faculty of Administration and Accounting , Francisco Hernández.
Once you identify the various real estate options, analyze the potential of that area, that is, how are the clients that pass through there (how old are they, what do they do, what is their average income?) To gather this information, You can hire a specialist in real estate, there are companies that market plans by cities with this type of information, classified by delegation or sector. Or, during the realization of your business plan you need to define these indicators, as part of the market evaluation, says the UNAM specialist.
The other option is to resort to the chambers or confederations of each sector (depending on your business line), where there are specific studies on certain businesses with application in the city of interest. If you chose to operate a franchise, the real estate specialist recommends consulting the expansion program carried out by the master franchise, there you will find its growth strategy, as well as the coverage of each unit and the districts where there is still the possibility of opening the business.
To ensure that your choice is the right one, it is necessary to do an investigation of vehicular and pedestrian traffic . Claudia assures that the most recommended is a combination of both types, to identify what type of mobility occurs in the area of your choice.
What are the most favorable indicators regarding pedestrian traffic? The adviser points out that if around 1,500 people per hour walk, this is a good place, but when the number is less than 750 people, which is equivalent to 12 per minute, the area is not highly recommended.
As for location, generally the end of the street or the corner are better because they have greater visibility. The next option is in the middle of the street, and if they offer you a more hidden place, then it is not convenient to take it.
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In vehicular traffic, García considers it a good location when, when traveling by car, the premises can be seen 50 seconds before passing in front of him. In case there are problems approaching the store, then it is not worth placing there.
This means that not only do you have to find a place where many people pass, you also have to evaluate if it is easily accessible. For example, the businesses that are located on Eje Central avenue, and even in the Historic Center of the City, are strategic for certain groups of the population because they meet venues of the most diverse twists. However, some people prefer not to drive around (at least on some streets) because they risk getting stuck in traffic and there are not many parking options , especially on weekends.
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If there's one thing people are complaining about in Mexico City, it's the lack of parking ! That is why it is important that your premises (either purchase or rent) have its own. If you cannot find a place with these characteristics, or if it is out of your budget, look for one that is located near a parking lot, avoiding traveling long distances.
Another important point is to choose an area where there are (at least 500 meters) offices or other shopping centers . Being close to other businesses that generate the passage of people, it is almost a fact that yours will be visited. Avoid, unless your company requires it, choose an area where there is a public transport terminal , advises Francisco Hernández.
Another vital point is to analyze the competition . Take a tour of the streets, avenues or shopping center of your interest and write down the types of businesses, are there any similar to yours? If so, see what they offer? and if they have a captive market.
Depending on the line of business, it will be the decision to locate yourself or not near another place that offers the same service. In Claudia García's opinion, it is always important, particularly in cities like Mexico, to choose a safe area for your clients and work team. Conduct a survey among the inhabitants and established businesses, ask them to detail what a work day is like in that place, if they have a police station or fire department nearby and how frequent the robberies are in that area.
Once this information is gathered, make a clear budget of what you can invest in the premises , the cost of the square meter varies, so analyze if the extra payment is justified, to "pull" more customers. It is better that your business is filled to capacity, that it offers an image of "not even the mocas stop" because the place is too big and exceeds your needs.
It is possible, clarifies the interviewee, that within the same area there are several places that attract your attention. Evaluate each one, quantify the total population that lives or transits there, and based on their different income levels and the distribution of their expenses, you can determine which one to keep.
After all your research, develop various operating projects for the most interesting sites you found; think about which ones best meet your needs. Before making the decision, prepare a thorough analysis of each option, thus avoiding the loss of customers that occurs when suddenly changing your business due to not feeling comfortable with the choice.
On these pages you will find information to carry out a location study:
National Institute of Statistics, Geography and Informatics (INEGI): http://www.inegi.gob.mx/
Mexican Association for Market Research and Public Opinion (AMAI): http://www.amai.org/
National Population Council: http://www.conapo.gob.mx/
