March 12, 2011
1 . Owner, Seth Berkowitz, says that opening a great Insomnia Cookies store over a new campus " is a little risky, slightly scary. ” What steps should Insomnia Cookies take to evaluate the appropriateness of a school campus on which they are taking into consideration opening a new location? Just like every business opening a fresh store, location is risky and scary. You will need to consider your marketplace and item placement for your market. Insomnia Cookies target audience is scholars up later studying. They need to determine the type of campus as well as the student's regimens for each School that they study as possible area. The time and money committed to learning these details could be lucrative for them! Just about every business needs to consider the next when identifying location: You? The space has to work for you, or perhaps it won't work. Remember, most likely the one needs to work right now there every day. Not on the second floor of the previously working Dr . is office!!! ROFL! Your customers? It also has to improve your customers, or perhaps it won't job. No consumers = no business. Your employees? This matter may not be while critical in the beginning, especially if you have zero employees yet. But the capacity to attract and keep good personnel will be troubled by your location. Proper partners? When this may not seem like a huge issue, the truth is that tactical partnerships happen more easily if the partners will be local to one another. Why do you think that certain areas become hubs for certain types of business, such as Silicon Valley for the tech industry? Potential buyers or customers? You may not be thinking about that yet, but potential buyers looking at the long-term worth of the business will see location as a key factor.
Each of these groups has different concerns about the location: Price - The majority of obviously, could you afford it? Also, although, consider whether your customers and employees have enough money it. For example , is there cost-free parking, or perhaps is it...