Abstract
Our background is the investment when opening a retail business in a regulated market, such as the pharmaceutical sector in Spain, which involves many risks caused by external factors that hinder the choice of a new-business location process. To study this phenomenon, we optimized the choice of the location of a retail site in a regulated market via a methodology that entailed a combination of analytical methods of spatial geometry with geographic information systems (GIS) and the analytic hierarchy process (AHP) multicriteria decision method. The integration of both methods shows great efficiency in the measurement of spatial reality in detail and its influence on decision-making in retail businesses. The study, conducted in Seville (Spain), showed how legal restrictions for the location of a new pharmacy greatly hindered the possibility of success for new retail businesses. However, by implementing both methods, we discovered a series of suitable spaces, which were assigned a score based on several criteria. The combination of GIS methods and AHP multicriteria decision method can be used to reduce the risk of opening a new retail business in a regulated market with space restrictions.
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