Oklahoma City, OK is a vibrant and rapidly growing city with a diverse population. In this article, we will delve into the residents’ distribution, major residential and commercial areas, and shed light on the potential of starting a discount store business in the city. We will discuss the investment required, projected return on investment, and enumerate suitable locations for a discount store.
1. Overview of Oklahoma City’s Resident Distribution:
Oklahoma City is the largest city in the state of Oklahoma, with a population of approximately 650,000 residents. The city is divided into several neighborhoods, including Moore, Norman, and Edmond. The population is diversified, with a mix of families, young professionals, and retirees.
2. Major Residential Areas:
- Moore: Located south of downtown Oklahoma City, Moore is a thriving residential area with a population of over 60,000 residents. It is home to numerous schools, parks, and shopping centers, making it an ideal location for a discount store.
- Norman: Situated southeast of downtown, Norman is a bustling college town with the University of Oklahoma as its centerpiece. The city’s residents encompass a mix of students, professors, and families. A discount store near the university or in proximity to student housing complexes would cater to the budgetconscious student demographic.
- Edmond: Positioned north of Oklahoma City, Edmond is an affluent suburb with a rapidly growing population. The area boasts upscale neighborhoods, excellent schools, and a range of retail options. By establishing a discount store in Edmond, you can tap into the potential of attracting costconscious residents without compromising on quality.
3. Key Commercial Areas:
- Bricktown: A vibrant entertainment district located northeast of downtown, Bricktown is a popular tourist destination with numerous restaurants, bars, and attractions. Opening a discount store in Bricktown would cater to tourists in search of affordable souvenirs and essential items.
- Penn Square Mall area: Situated in northwestern Oklahoma City, this neighborhood is known for its upscale shopping centers and commercial establishments. A discount store in this area would offer residents and shoppers an alternative, affordable shopping experience.
- Northwest Expressway: This major road boasts a wide range of shopping plazas, restaurants, and businesses. Opening a discount store along or near Northwest Expressway would provide convenient access to a large customer base, including residents and those passing through for leisure or business purposes.
4. Funding and Return on Investment:
Investing in a discount store business in Oklahoma City requires careful financial planning. While costs can vary depending on factors such as store size and location, a rough estimate for startup capital would range from $100,000 to $250,000. This investment would cover lease or purchase of a retail space, inventory, equipment, marketing, and staffing.
The return on investment for a discount store is promising due to the potential customer base and the city’s steady growth. By offering competitive prices, quality merchandise, and a wide variety of products, you can attract a loyal customer base and achieve steady sales. Profit margins will depend on factors such as overhead costs and pricing strategies, but a wellmanaged discount store can yield significant revenues.
Starting a discount store business in Oklahoma City, OK presents a promising opportunity. With a diverse population and strategically chosen locations, you can cater to a range of customer segments, including residents, students, and tourists. By investing in a wellplanned business model, you can expect a substantial return on investment in this flourishing city.