Exam 14: Choosing the Right Location and Layout

Job training for workers and reduced tax rates, financial grants and loans, are examples of what some ________ offer as business ________ to locate in their jurisdictions.

The typical ________ is relatively small (contains from 3 to 12 stores)and serves a population that lives within a 10-minute drive.

Nature's Way, a health food store, has just opened in a popular neighborhood shopping center next to Silver's Gym, a physical fitness center catering to both men and women. Nature's Way is relying on which location principle?

Shopping malls typically average ________ parking spaces per 1,000 square feet of shopping while a typical central business district offers ________ space(s)per 1,000 square feet of shopping space.

When Jan and Detmar Wolcinski bought their 152-year-old house, they began remodeling it with one goal in mind - opening a bed and breakfast inn. The Chadwick Inn has exceeded the Wolcinski's expectations in its first year of operation, but now some neighbors are starting to complain about the increased traffic in their neighborhood and the late hours some of the Inn's guests keep. The Wolcinski's greatest challenge in the near future is most likely ________.

For some retailers, locating near competitors makes sense because similar businesses located near one another can increase traffic flow to all.

The customer group that spends the most time in shopping malls is teenagers between the ages of 14 and 17.

To calculate the IRS, a retailer needs to know the number of customers in the area, the retail expenditures for her/his product, and the total square feet of space allocated to selling her/his kind of product in the trading area.

The index of retail saturation ________.

Which of the following is an important consideration for an entrepreneur evaluating a shopping mall or center location?

Mary's successful clothing store was located on the back edge of the parking lot of a large mall. She did not have to pay mall rents since she was not part of the mall, but drew many customers who parked at the mall and then noticed her store. The mall developers built a movie theater on the part of the parking lot directly in front of Mary's store, basically hiding her from most mall customers. After about six months, Mary's business dropped off so much she had to move. What retailer site selection criterion forced Mary to move?

When would a business choose to locate near the source of the raw material?

When conducting a regional evaluation, one of the first places an entrepreneur should turn for information is the U.S. Census Bureau.

Carmen is starting a childcare center. One location closed after a murder on the property and is near a neighborhood where there are many single parents. What city site selection factor might give Carmen problems with her childcare center?

When the cost of transporting finished goods to market is high relative to their value, the key location criterion is ________.

The Lifestyle Market Analyst matches population demographics with age.

Refer to the following information to answer the following questions. An entrepreneur considering two sites for a men and boys shop determines that (s)he needs sales of $158 per square foot to be profitable. Site #1 has 13,500 potential customers who spend an average of $160.20 per year on men and boys wear. Two competitors occupy 14,200 square feet of space. Site #2 has 10,800 potential customers who spend an average of $152.10 per year on men and boys wear. One competitor has 10,000 square feet. -The index of retail saturation for site #1 is $________.

The first phase of determining where to locate a business is ________.

On average, the typical central business district has more parking spaces per square foot of shopping space than the typical shopping mall.

Entrepreneurs using the Census Bureau's Web site to evaluate potential locations have access to which of the following information about the residents in those locations?