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Need Your Expert Help! Location, Location, Location

MrTeaMrTea subscriber Posts: 1
edited February 2007 in Business Planning
I have an opportunity to open up a brick and mortar in a great corner spot
location on a main street with tons of windows and good visibility. There`s
one catch though...the store directly next to this one (attached) is a
competitor. Let`s say I`m opening a cake shop and they are running a pie
company. So, clearly some customers will still go to them but many may
come to me. Does this spell trouble or should I stay away from this
location?

Also, generally speaking, is it in my best interest to have the Chamber of
Commerce on my side? In general, should I be trusting of all members of
the Chamber?

Thank you!!!
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Comments

  • stonesledgestonesledge subscriber Posts: 608 Silver Level Member
    Well Pies and Cakes bring on the same type of buyers and gives them choices one right next to another. This could be complimentary. Or it may not depending on exactly what you offer and how close in product it is. I know a great bakery that i go to for my cookies and go 2 doors down for the pies when we have events. I like the convenience. You do need to check into an agreement of exclusivity, so look into it. stonesledge2007-2-6 19:2:43
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  • MrTeaMrTea subscriber Posts: 1
    Those are great ideas Craig! The location is great. My only concern is do I
    want to open up my first business and first location having a neighbor who
    will almost definitely hate me? I would very likely be taking business from
    them so I can`t imagine they would be too happy. This is a tough one...
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  • katscoolcorner1katscoolcorner1 subscriber Posts: 0
    michael,
    You should always trust your instinct when you open your business.  If it doeesn`t feel right that is a warning sign for you to pay attention.  You could ask your neighbor exactly what he is selling and how would he feel if you sold something similar.  Perhaps it could be complimentary. 
     
    The others are right also that many neighborhoods have several stores or shops that offer the same service and they all thrive.
    If you do decide to open your business.  Take every opportunity to collect mailing addresses and e-mails so that you can keep in touch with a unique newsletter or e-zine to your clients and develop relationships.  That can make you unique and your clients will remember your personal touch. Kat.
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