Location, location, location - how to choose one?

Hello to you all.  
  
I am new here  
  
I am thinking of opening my own ice cream place (i won't burden with too many details) in Los Angeles.  
  
I was wondering though, how do you know if a location (which I have in mind) is GOOD ENOUGH?  
I am assuming that by foot traffic - and the more, the better.  
  
But still, it's kind'a hard to know.  
  
Any advice will be much appreciated.  
 
PS - I would also like to ask about the next step (remodeling - and if you know how to go about it)
 
Thanks!!! 
  
Thanks