Location plays a big role in making or breaking your business. And most small business owners understand this. That’s why, when it comes to location scouting, most business owners choose main streets for practical purposes.
Reasons to Start a Main Street Business
According to data from Main Street America, commissioned by American Express (NYSE:AXP), 68 percent of small business managers consider main street when choosing to lease a space. Of course, they have good reasons to start a main street business. Footfall, for example is a key factor.
Main Street Drives More Footfall
Data shows 71 percent of respondents prefer to shop or dine in a local historic main street over planned commercial areas. In other words, businesses present in these areas are more likely to draw the crowd.
Want to attract more tourists to your business? Main street works well again.
About 63 percent of respondents said when traveling, they seek out main streets for sightseeing, shopping or dining.
Preservation Programs Make Main Streets More Desirable
What makes main streets so much more attractive to businesses are the programs aimed at preserving them.
In 2016, the reinvestment of $4.65 billion in Main Street preservation programs resulted in 8,042 building rehabilitations, 5,616 business openings and 27,462 new jobs.
Location-Based Marketing Makes Sense for Businesses
Targeting the main street for your business is just the first step to getting more footfalls. To achieve success, you need a solid location-based marketing strategy. And this is where local SEO can help your business.
Optimizing your business with local SEO can help you draw more crowds and boost sales.
There are, of course, some other innovative solutions such as beacons and geofencing that can provide a simpler solution to attracting and retaining customers.
With several technologies now available at your disposal, it’s just a matter of identifying solutions that best meet your requirements.
Check out the infographic below to understand why main streets are so popular with businesses:
Mackinac Island Photo via Shutterstock
It is all about the traffic and how profitable the traffic is. There are a ton of people in the area so it is a great place for a business.