Discovering a great spot for your new business takes more than just a bit of time combined with a little luck. It all starts with you knowing exactly what you are seeking for your business. It then takes careful searching, data collection and analysis. There will be plenty of legwork and you will become an expert at comparing sites against your selection criteria and each other. There is a core set of data that must be collected as a part of the search and decision process. Read on for some of those key considerations.

* Traffic – Carefully scrutinize both foot traffic and auto traffic numbers. If you are planning on running a dollar store, having a mix of both can be perfect. However if you must select one higher number, make it auto traffic. The qualifier is ease of auto traffic movement to and from your parking area. When that isn’t the case, you have not located the perfect spot for your store.

* Shopper demographics – Examine the shopper demographics for the immediate area around your proposed business spot. Then start looking at demographics in the surrounding area.

* Makeup of nearby tenant businesses – Opening as a standalone business can be difficult for many stores. If you are running a dollar store as a destination location, plan to add in the requirement that you must create a destination store. If however you are examining a spot placed in a shopping mall or amongst other businesses, carefully examine the types of businesses nearby. What type of products do they sell? What is the demographic of their customers? The right mix of complementary businesses can make it much easier for those running a dollar store.

* Visibility - Never accept a spot that is tucked away in a seldom used corner. Make sure you are front and center, easily seen by all who pass by as well as those who enter the parking area in search of your store.

* Parking – This includes both the level of difficulty to enter and leave the parking area as well as the closeness and availability of parking. Entering and leaving the parking area must be effortless for your potential shoppers. Likewise it must be straightforward to approach your store and park close by. Think of the types of shoppers you will support. They are families with children and often shoppers who need a way to quickly park, pick up one item from your store and just as quickly resume their trip.

There are certainly other key pieces of data required by those who are running a dollar store to make a final decision. Look to an experienced commercial real estate broker and your local Chamber of Commerce when assembling your data. They can both provide a wealth of information.

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