Are you tired of hearing people use the phrase “location, location,location?” It is an insult to both the speaker and the listener. It’s like saying the most important thing in pro sports is winning, or that the most important outcome in investing is making money.
Now that we’ve survived another round of massive store closings and bankrupt retail and restaurant chains, let’s see if we can shed some light on the path forward for real estate planning and site selection.
I would argue that mistakes are made at three levels: market selection, market planning, and site selection. All three are critical to the success of a chain store real estate program and the types of mistakes that cause pain and death are different for each. Continue reading