What are the advantages and disadvantages of choosing a freestanding site for your retail store?
What will be an ideal response?
The advantages of freestanding sites are as follows:
• They are convenient for the customer (easy access and parking);
• High vehicular traffic and visibility to attract customers driving by;
• They have a modest occupancy cost;
• They have fewer restrictions on signs, hours, or merchandise that might be imposed by management of planned locations.
The disadvantages are as follows:
• They have limited trade area;
• They have no other nearby retailers to attract customers interested in conveniently shopping for multiple categories of merchandise on one trip;
• They have higher occupancy costs than strip centers;
• They are generally in areas with little pedestrian traffic, limiting the number of customers who might drop in because they are walking by.
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Fill in the blank(s) with the appropriate word(s).