Location matters for a new store. Competitors, demographic profiles and urban areas of use in the region should be analyzed for a new sales location. The right region selection supports the right location selection.
Avoid areas where there is not enough demand
You should make sure that there is a demand for the service you will provide or the product you will sell. In the new region of your choice, it may be your competitors or your other branch and these branches may meet the demand. Therefore, before choosing the location, you should analyze the location and stay away from areas where there is not enough demand.
Measure the Potential of the Region
Compare the potentials of the regions with each other and choose the areas with the highest value in terms of potential. Reduce the risk of closing your store.