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EVALUATING PROSPECTIVE SITES
When choosing a location for your business,
having a method for evaluating the strengths and
weaknesses of each potential site is crucial.
Below is a basic checklist to help you in this
process. First, read through the criteria and
weigh them on a scale of 1 to 5 according to
their importance to the success of your venture
(1 is low, 5 is high). Then make a copy of this
list with the weights filled in for each site
you are evaluating. Go through the criteria
again and grade them on a scale of 1 to
10. Mul-
tiply the grade times the weight to determine
your site's points on each factor. Add up the
points to get a total score. Repeat this process
for each site. The one with the highest number
of points best meets the most important require-
ments for a good location. Happy hunting!
Factors Grade X Weight = Points
1. Visibility of site to passersby
2. Vehicular and pedestrian traffic
3. Parking availability
4. Overall customer convenience
5. Centrally located to my market
6. Raw materials readily available
7. Availability of qualified employees
8. Labor rates of pay
9. Transportation accessibility
10. Supplier proximity
11. Health of local business climate
12. Tax burden
13. Housing availability for employees
14. Compatibility of neighboring businesses
15. Quality of police and fire protection
16. Crime/shoplifting rates
17. Adequacy of utilities (sewer, water, power,
gas)
18. Topography of site (slope, foundation)
19. Condition of premises (fixtures, equipment,
inventory)
20. Major repairs required in near future
2
1. Building services (security, janitorial,
gardening)
2
2. Provision for future expansion
2
3. Current and future zoning restrictions
2
4. Terms and cost of lease (including options
for renewal)
2
5. Responsiveness of landlord
2
6. Quality of this site in relation to that of
my major competitor
2
7. Competitor proximity
2
8. Personal preference
Total Score
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