Evaluating Prospective Sites

When choosing a location for your business,
having a method for evaluating the strengths and
weaknesses of each potential site is crucial.
Below is a basic checklist to help you in this
process. First, read through the criteria and
weigh them on a scale of 1 to 5 according to
their importance to the success of your venture
(1 is low, 5 is high). Then make a copy of this
list with the weights filled in for each site
you are evaluating. Go through the criteria
again and grade them on a scale of 1 to 10. Mul-
tiply the grade times the weight to determine
your site’s points on each factor. Add up the
points to get a total score. Repeat this process
for each site. The one with the highest number
of points best meets the most important require-
ments for a good location. Happy hunting!

Factors Grade X Weight = Points
1. Visibility of site to passersby
2. Vehicular and pedestrian traffic
3. Parking availability
4. Overall customer convenience
5. Centrally located to my market
6. Raw materials readily available
7. Availability of qualified employees
8. Labor rates of pay
9. Transportation accessibility
10. Supplier proximity
11. Health of local business climate
12. Tax burden
13. Housing availability for employees
14. Compatibility of neighboring businesses
15. Quality of police and fire protection
16. Crime/shoplifting rates
17. Adequacy of utilities (sewer, water, power,
gas)
18. Topography of site (slope, foundation)
19. Condition of premises (fixtures, equipment,
inventory)
20. Major repairs required in near future
21. Building services (security, janitorial,
gardening)
22. Provision for future expansion
23. Current and future zoning restrictions
24. Terms and cost of lease (including options
for renewal)
25. Responsiveness of landlord
26. Quality of this site in relation to that of
my major competitor
27. Competitor proximity
28. Personal preference

Total Score

About author

SMB Reviews
SMB Reviews 473 posts

SMBReviews is committed to providing small and mid-sized business owners with the information and resources they need to select the best service or product for their company.

You might also like

Articles

Business Plan for Small Service Firms

TABLE OF CONTENTS INTRODUCTION A Note on Using This Publication What’s in This for Me? Why Am I in Business? What Business Am I in? MARKETING Determining Sales Potential Attracting

Articles

The Best Apps for SMB Finance and Accounting

Running a small business means you wear many hats throughout the day. When you can find software that will help you run your business, you won’t be completely overwhelmed with

Articles

10 (plus 1) Ways to Winning a Business

Many people fantasize at one time or another about going into business and being their own boss. Now a growing number of Americans are turning that fantasy into a reality.

0 Comments

No Comments Yet!

You can be first to comment this post!