More important than population figures, however, is the amount of foot traffic youll have for your retail location--because in retail, rental is a big part of your marketing budget. Why? Because it will be too expensive for you to advertise to become a "destination" retailer. Only the largest big-box retailers have that type of budget, so to build your customer base, youll need a prime location with a lot of foot traffic.
Eventually, people may drive more than a few miles to shop at your store. Starting out, however, you'll need to focus on location.
All the best.
Brad Sugars is the founder and chairman of ActionCOACH. As an entrepreneur, author and business coach, he has owned and operated more than two dozen companies including his main company, ActionCOACH, which has more than 1,000 offices in 34 countries.