Since the Pilgrims landed on Plymouth Rock in 1620, retail has been the most difficult type of business venture to succeed in. In fact, the problem has become progressively worse. According to the National Retail Federation, in 1997 there were 19 square feet of retail space per each American. In 1982, that figure was 11 square feet. The best chance he has is by paying careful attention to the following success factors.
Location certainly is still number one on the list.
No matter how good your location is, though, it will exclude more potential customers than it will include. The second key to success is to find ways to go beyond the local market and reach more customers. The internet, catalogs, and ads in focussed magazines are all possibilities, but I have seen even more success when the retailer can identify a national market place, a trade show or convention, like the recent National Sports Collectors Convention in Atlanta, which brings interested buyers and sellers together in one place. Business name is number three. National chains already have a brand identity.