Thinking of opening a retail business or a little café? As so many businesses are dependent on being visually available to passersby who may make an impulse buy it is very important for you to get a location that boasts a high quotient of foot traffic.
One of the most effective ways to measure foot traffic is with a clicker. Take the time to buy a clicker, which is basically a counter device that makes clicks. You simply press it every time you need to count something. You can easily get these on eBay if you cannot find one in your area.
Park your car near the place you are considering renting as your location and the click your clicker every time you see someone walking by on the sidewalk. Then note the numbers. That should tell you a great deal about how much foot traffic you get during the day.
In fact it is a very good idea to go there several times a day. Go in the morning, afternoon, nights and weekends to determine when are the best times for you to stay open if you should rent there. Sometimes a place that has absolutely no business at one in the afternoon has plenty at two in the morning!
Some things just don’t sell well without foot traffic; especially foodstuffs. Try to think of 1% to 10% of the people who pass by as being your customer and then use the final number that you came up with to see if your location will actually support a business.
For instance if 300 people pass by your proposed snack shop at noon then it is likely that you will make anywhere from 3 to 30 sales which would make it worthwhile. However if only have ten or even 100 people pass by then you are not likely to make sales at all.
In fact, the first thing you should do when investigating a new neighborhood is scope it out by being as friendly to as many people as possible. Do not hesitate to ask people what kind of business they need or would like to see where they shop or live. Be sure to ask them what kinds of businesses have failed in the location in the past. Usually they can tell you about the peak times for foot traffic in the area as well
