Odd Lots

How Businesses Decide Exactly Where to Set Up Shop

Feb 5, 2024
Tom McGee, CEO of the International Council of Shopping Centers, shares insights on the complex factors influencing retail site selection. He discusses how foot traffic and competition shape decisions, along with the importance of demographic research. Chris Hatch, partner at Forza Development, dives into the unique challenges of optimizing drive-thru locations for chains like Starbucks. They explore safety, zoning regulations, and how evolving consumer behavior impacts site choices, revealing the intricate dance behind choosing the perfect business location.
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INSIGHT

Demographics in Retail

  • Retailers consider demographics to target their core customer.
  • Different brands target different demographics, like Tractor Supply vs. Tiffany's.
ANECDOTE

Shopping Center Selection

  • Choosing a shopping center involves observing its quality and maintenance.
  • Retailers consider co-tenants to ensure brand consistency and attract the right customers.
ADVICE

Lease Negotiation

  • Negotiate lease terms like price and co-tenancy clauses.
  • Bigger retailers have more leverage due to the traffic they generate.
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