Evaluating
Prospective Sites
When choosing a location, a method for evaluating each potential site
is crucial. By using some form of score sheet, you will be able to
carefully consider a site's strengths and weaknesses and eliminate the
factors that may be equal in all sites. In addition, as you make your
tally, be aware that some factors may be more important because of your
line of business. Be sure you assign the proper weight to those factors.
Below is a basic checklist to help you rate each site. First, read
through the criteria and weigh them on a scale of 1 to 5 according to
their importance to the success of your business (1 is low, 5 is high).
For each site you are evaluating, make a copy of this list with the
weights filled in. Go through each criterion again and grade it on a scale
of 1 to 10 based on how well the site you are rating meets the need.
Multiply the grade times the weight for your site's points on each factor.
Add up the points to get a total score for the site. Repeat this process
for each site and compare the total scores. The highest one will be the
site that best meets your most important requirements. Happy hunting!
Factors
1. Centrally located to my market
2. Raw materials readily available
3. Quantity of available labor
4. Transportation availability
5. Vehicular and pedestrian traffic (important in retail and small
service operations)
6. Parking availability
7. Labor rates of pay/estimated productivity
8. Adequacy of utilities (sewer, water, power, gas)
9. Local business climate
10. Provision for future expansion
11. Tax burden
12. Topography of site (slop, foundation)
13. Quality of police and fire protection
14. Housing availability for employees
15. Environmental factors (community atmosphere)
16. Estimate of quality of this site in future
17. Estimate of this site in relation to that of my major competitor
Total Score
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