Exam 14: Choosing the Right Location and Layout

The choice of the location for a Tiffany & Company should be determined by the compatibility with the community it will serve.

A power center combines the drawing strength of a large regional mall with the convenience of a neighborhood shopping center.

The ________ serves a large trading area (10 to 15 miles or more), contains from 50 to 100 stores, and draws customers from a population that lives within 20- to 40-minutes driving time.

An arrangement in which materials do not move down a production line but rather, because of their weight, size, or build, are assembled on the spot is called a ________ layout.

What is the 40-30-20-10 rule in retailing?

When evaluating existing buildings, retailers:

Shopping centers are always a wise location for a small business owner to choose.

Which of the following information is not available from Census data?

Criteria for a "good location" are universal and apply to all types of small businesses.

A "business incubator" is a facility that offers low rental rates and permits startup small businesses to share resources.

A recent SBA study found that 52 percent of all small companies are home based.

The majority of a store's customers go more than halfway into the store.

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?

Mini-Case 14-2: "It's a Great Location for a Bar" Fred Stanford has just completed bartenders' school in Los Angeles and is ready to build a life for himself. Sunday's paper has an ad in the business opportunities section for a bar in Mesa Verde, Colorado. Fred has heard that the West is a high growth area and the quality of life in Colorado is very good. Fred's best friend, Carl, begins to ask Fred some questions about his new idea. "To begin with, Fred, where is Mesa Verde, Colorado?" Fred decides to call the telephone number in the ad and is put in touch with Ansel King, a business broker located in Pueblo, Colorado. When asked where in Colorado Mesa Verde was, Ansel was prompt to point out that it was only 35 miles from Pueblo on the Interstate and has a population of nearly ten thousand. "Fred, this town is a great location for a bar, and I have just the kind of deal for a young man like you looking to get started." -What city-related factors does Fred need to consider when evaluating this community as a location for a bar?

Clever business owners choose their location with an eye on the surrounding mix of businesses.

Attributes such as lighting, sound and scent are unimportant attributes to most retail stores.

The National Business Incubation Association reports that ________ percent of the companies that have graduated from a incubator stay in the local community.

The Americans with Disabilities Act of 1990 requires:

Increased traffic flow can be beneficial to similar businesses located in close proximity to one another, such as auto dealers, clothing retailers, and antique shops.

The "Best and Worst States for Doing Business" indicates that California is one of the least attractive states in which to do business based on these factors: