Question

select a store and choose a site location you would like to use for the store.

Describe the location using the following factors:

A-Where is the location? For example, I might select a Smithtown shopping center on the corners of Route 25 and 111.

B-How would you describe the population density for the location.

C-Describe the quality of the location as you see it.

D-Using the free zip code analysis found online, describe the demographics of the area including: average income, number of people, number of households, age breakdown, average house value, area population and number of area businesses.

E-Ease of access to the location.

F-Analyze the tenants in the center, if applicable.

G-Describe the nearby competition.

H-Describe the traffic going by the site, is it heavy or light?

I-Availability of the parking spots.

J-Type of lease you'd want for the location.

K-Any other factors that you might want to add.

It should be 3-5 pages double spaced.

Answer 1

Would like to open a shoe store at the Nucleus Mall of Ranchi Jharkhand.

A: The preferred location will be, Nucleus Mall located at the jail road of Ranchi.

B: The population of this area possesses a high standard of living. They are fitness freaks and usually prefer shopping at stores that have promising collection of brands.

These people have a lavish lifestyle with moderately high income.

C: The area where the store would be opened is densely populated.

The area is filled with branded stores, also the shopping centre gives preference to only those stores that wish to take up the franchise of a brand.

The locality is properly planned and cleanliness is their priority. The sanitation facility is quite promising and hence people prefer this area.

There are various food joints that have varieties to chose from. These food joints maintain hygiene and serve fresh cooked food.

D: The zip code of this area is: 834001.

The demographies are:

Average Income: Rs.500,000/-

Number of people: Approximately 10000 salaried people.

Number of houses: 5000

Age Breakdown: People of 30 years to 40 years are maximum in number.

Average House Value: The area is posh and the demand to get a living space is quite high and hence the average house value stands to be Rs. 5,000,000/-

Area Population: The area has approximately 25,000 residing here.

Number of area business: Due to the lavish standards of living there is almost cut-throat business. This area gives high profit and there are more than 500 stores.

E: The location is easily accessible due to the direct availability of public transport as well as private transportation facilty.

F. There are two types of tenents living in this area. One, the new employed bank professionals and the second are the students. There are approximately 5000 tenants.

G: The competition stands to be a cut-throat as the demand is very high here and people wish to open new stores with collections preferred by people.

H: It is a heavy traffic area, especially in the evenings.

I: Parking spots are easily available as the area has been well planned so that there is atleast two-wheeler parking availabe even on the busiest evenings.

J: I would prefer to have a lease of 3 years @ Rs. 100,000/- per month.

K: Preference is a factor I would like to add. Before opening a store, I would keenly monitor which brand is highly preferred by people and then set up my store accordingly.