Chicago is an enormous city where new and old businesses have plenty of room to succeed and fail. If you are planning on opening a retail business in the city, you do not want to rush through the process. It is important to have a thorough plan that ranges from knowing how you are going to get your inventory to what kind of new products you may want to introduce to the shop in the future. You will also need to find Chicago retail space to get started, and this is where your overall success may be determined.
Avoiding the Center of the City
Downtown Chicago is sprawling, but you do not need to be there to succeed. It is a perfect place for receiving lots of foot traffic, but the costs that come with leasing a place in such an area can be quite high. So, instead of putting yourself into a situation in which you need to generate massive sales to break even, you should start looking farther away from the city center to see where you can get the best value.
Along the Chicago Transit Authority
One thing to take into consideration is the location of the Chicago Transit Authority. If most of the city has easy public transit access to your business, they are more likely to make their way to your shop. According to calculations gathered from 2010 to 2013, about 27% of households in Chicago do not own a vehicle. By making it a priority to be close to the public transit system, you can create easy access for everyone. Those with cars will have no problem getting to your retail store because they can just drive.
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