Location! Location! Location!

(18 /08 /2013)

You have heard this with buying a house, so is it relevant within the hospitality industry.

TRUE or FALSE? True to a degree? I have seen many ‘tucked away in an alleyway’ kind of places attracting large volumes of clientele. The reason? They are different and offer an unique experience; they are in touch with new clients via ingenious marketing strategies.  At the other end of the scale you have establishments in busy locations with lots of passing traffic and you find them empty.

There are many things to look for when finding a location but there are just as many points to consider;

  • Population Base, is there a enough people to go around?
  • Is there sufficient parking? People hate to look for parking.
  • Accessibility, will it be easy to get to?
  • Can you afford the rent for that location?
  • Your competition, how close are they?
  • How much renovation will need to be done?
  • Local council regulations and zoning.
  • Size of the premise.
  • Future developments (new residential developments)
  • The area – is it safe and family friendly?

Sit down with someone who is removed from the decision, you need to think with your head not your heart and looking for some guidance on the huge checklist of things to consider.  Your decision could be the key to your success or failure!

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