Location, Location, Location

This old adage is overused by real estate agents and leasing companies to the point that it has lost its punch.

Let use as an example the last 2 stores that we opened.

The first store was a bit of a whim. Good traffic count but you can't throw a rock in any direction without hitting a gold buyer. The store has struggled to gain a foothold and in order to buy sufficient quantities of gold to be profitable, will require a significant amount of advertising and legwork to network with the other businesses in the area that can refer business.

The second store was planned on to be the 1st but licensing in that area takes nearly 3 months. Once it opened it did more business in 10 days than the first store did in 6 weeks.

The lesson was brought home to me while driving to a potential licensee. The road I was on has between 30,000 and 70,000 cars a day - depending on who you believe. More importantly - there is one gold buyer in a span of 3 towns - each of which would support a stand alone store. This location is about 30 minutes from store #1.

Location, Location, Location