Business owners know that one of the most important factors that determine success is location. A good location is critical to attracting the right type of customer. It seems like more and more new businesses are opting to rent out locations in areas where customers are required to walk to them. This could be due to factors such as increased availability of these type of locations, as well as decreased price to rent them out.
One of the biggest perks for these types of locations is that they do not need to rent out dedicated parking space for their customers. After all, most of their customers will come on foot. Moreover, the cost of parking space inside a city center can be quite high. Choosing a business location that attracts foot traffic rather than vehicular traffic can be beneficial for business, the environment, and the overall health of the community.
Benefits to the Business
Business locations in more traditional, parking-friendly locations tend to be more expensive. Setting up shop in a location that requires walking can have financial perks aside from decreased rent. It can allow for businesses to turn window shoppers into customers by employing different marketing techniques. These locations give businesses a higher chance of converting foot traffic into paying customers.
Some great marketing techniques include hosting grand opening events, holding sales, hosting targeted classes or seminars, personally handing out incentives at the door, and gaining exposure through local involvement. Becoming noticed through location-based apps on smartphones is important, and syncing business hours with customer’s schedules can also be helpful.
Benefits for the Environment
An increase in foot traffic can be extremely beneficial to the environment. As vehicle use eliminated for the purposes of shopping, this in turn leads to a decrease in the amount of emissions that clog up the air. Cars are the second leading cause of CO2 pollution, which damages our planet by causing global warming. The centers of cities are notorious for the amount of emissions produced by cars. If businesses actively try to encourage foot traffic, it will be possible to decrease air pollution, which is a major culprit in many medical conditions.
According to the World Health Organization, by reducing air pollution levels, there will be less risk for heart disease, lung cancer, and both chronic and acute respiratory diseases, including asthma. Less cars also means that there will be a subsequent decrease in noise pollution, which is also a source for numerous health problems.
Benefits in Health
Situating a business in a walkable corridor allows for pedestrians to develop healthier habits. Walking has the lowest dropout rate of any exercise routine. Encouraging foot traffic will lead to people opting to walk towards their shopping destinations, allowing them to incorporate exercise even for those with busy schedules. This simple change can lead to more positive changes in physical routines. Benefits to walking 30 minutes a day include lowered risk for cardiovascular disease, colon and breast cancers, lower blood pressure and blood sugar levels, and reduced risk for diabetes.
Locating a business in the city center or walkable corridor is a great way to attract foot traffic. It can lead to great outcomes for the business, the environment and the health of the community.