Retail Floorplan
Men's Retail Store Layout for Space, Profit and Efficiency Maximization
Mike and Earl Moore, are the founders of a Men's store named College Men's Unlimited. Recently they signed a lease for five years at theh College Mall near downtown. Along a stretch of the mall is a neighborhood of upper class homes. There are plans to open the store within weeks near the college and also a prime community. Business for Mike and Earl has been very promising and they are ready to make a move to the mall location. The Mall Developer has requested a floor plan from the owners.
The current store is in a two story home which does not have adequate space. The mall developer has requested that the store owners bring In plans for their layout as soon as possible. Therefore it is important to come up with a marketable floor plan that will allow College Men's Unlimited to open on time. The store is a men's store offering a line of young to mature men's clothing in prices from mid-range to authentic brands at a premium cost. The new store space is a bit smaller than the previous location that is 40 by 70 feet.
I. Objective: Using Available Space for Maximum Effect
Opening a new store is always a big adjustment to any retail business (Catriona Pollard,...
Mike and Earl have a lot to think about, to ensure that they do everything right. Here are some factors to consider when opening a new branch.
1. Size. Since this new branch of College Men's Unlimited will be substantially smaller (4,000 square feet total, but 3,600 square feet devoted solely to the retail store, versus 2,800 square feet total in the new locale), adjustments need to be made to accommodate this: since the store is a "full line" menswear store, every type of menswear they offer in the flagship store will need to be available in the mall store, but on a more economical scale (Demand Media, 2011). Also, since there will not be a need for the living quarters in the mall store, this will allow more floorspace to be devoted to merchandise.
2. Location. The mall is prime retail space, located perfectly for College Men's Unlimited's target market. The university is close, as is downtown, and is adjacent to a high-end residential area which would respond well to the store's merchandise line and price point, which is described as middle- to upper-quality. However, in order to compensate for what is likely a higher rent and other monthly overhead costs, they might have to consider increasing prices (Demand Media, 2011).
3. Layout. The location…
