Choosing the right location for your business!

[PICKFORD]

The right location for your business is one of the main factor that you have to considerif you are thinking of establishing a business like a barbing salon, a restaurant, a provision store, or any other small-scale retail business then location is the right thing at the right factor to consider the mosta lot of thing to put into consideration when analysing the location of your business you want to establish some of which are
1. the competitors you need to be mindful of where your competitors are as you will not want to open a business in the midst of the were there are a lot of competitors, compititors could be very tricky at times that is why it is advisable to establish your business in the place where you have your own base as it will be easier for your customers to differentiate you from the rest of the competitors.

2 shipment is another thing to consider when choosing the location of your business is your business is an industrial type 1 who will be receiving shipments of goods and services then you need a wider space where trucks lorries or even your clients could park their vehicles and ensure security to this automobiles as the patronize you.

3 structure of the building is also another thing to consider if the kind of business you are about to establish must be described by the structure of the building then it is advisable to rent or to buy or even build a building that will and tell to the onlookers what exactly you are selling or showcasing

 

[sincerem]

If you're dealing on offline business that's when you'll consider location mostly. But of you're selling online and delivering offline by using a delivery truck, then you shouldn't worry about your business location. Since no one finds or locate you to where you're operating. I love online business presence at the moment than offline, because it enables me to even stay at my home while doing business and sending a driver to deliver the product to the buyer and vice versa. You don't have to worry about shipment unless it isn't listed on the location you ship your products to.

 

[samual]

This is a good idea. On how to make money offline and while you can still sell your Product to the consumer, with the use of driver.

 

[btaliat]

Just like the first commentator said, location is only suitable for offline businesses. You don't need more of location when it comes to online business. And just like the poster has rightly some factors to be considered while choosing a business location, there is also need to target for a particular business we may be dealing with .

For instance, there should be proper market survey that will let us know where our target audience are really situated. For example, there may not be maximum profit for a school that's set up close to the market or let us day club.

Another thing to consider is closeness to the raw material. If the business is manufacturing business, we need to choose a place that's very close to the raw material. This will save the transportation fee a business man may he incurring.

 

[Chibson]

If if you want to venture into any business the first thing you should look at is the location of that particular business. location is very important in the sense that it can determine whether you will be successful in such business or not. this is why it is very important for you to do a whole lot of research and study the kind of environment you want to locate your business before renting a shop or store as the case may be. When studying the location in which you want to situate your business there are certain things you need to look at.
You he will look at the needs of the people. This is very much important because if what you are selling or offering is not needed in the location in which you are situated then there will definitely not be enough patronage for you to make profit in the long run. You also have to look at competitiveness of not a business in that particular area. if there is a whole lot of competition then there is a lower chance that you will succeed in such a business because there are some people that have established longer before you.

 

[Kingsley]

Having a very good location is one of the major criteria in experiencing success in business. I have seen people who have put in their very best in trying to plan how their business will be successful and how they will outshine their competitors in the same line of business that they find themselves. And all their effort sometimes always prove abortive, because the more money they spend in trying to finance the business adequately the more they realise they are running at a loss.they sometimes try to showcase their product on sign post but all to no avail as they seem not to be getting the right feedback they desire from their target audience,

There is this friend of mine who came to me complaining about the progress of her business and she said she has spent alot of money in trying to improve on the business and as overhead cost, and still there was no sales.

So I decided to visit the business organization to see what the problem actually is, and then as soon as I got there I realise her challenge was the location where she sighted the business, so I encouraged her to change the location of the business and today she is doing very well in her business. Location is key for a business to succeed.

 

[moonchild]

these are one of the core researches an intending business person should make, because location pretty much determines the amount of profits/sales you will be able to make, business solely rely on locations, for example imagine selling gold and diamond necklaces in a poor neighborhood, nobody will patronize you because they don't have the financial ability to purchase.

Even online business, location do play a vital role but it's limited compared to offline business where the whole patronage is based on that, where location plays a part online is for example if you're blogger in Africa, you'd like to focus on first world countries to be able to get high click thorugh rates e.t.c this shows that location is important in online business too.

In a nutshell it is very advisable to have well thought out plan on where business is going to base.

 

[Immilash]

Very much like the primary pundit said, area is just appropriate for disconnected organizations. You needn't bother with a greater amount of area with regards to online business. Furthermore very much like the banner has properly a few elements to be considered while picking a business area, there is additionally need to focus for a specific business we might be managing .

For example, there should be legitimate market review that will tell us where our interest group are truly arranged. For instance, there may not be most extreme benefit for a school that is set up near the market or let us day club.

Something else to consider is closeness to the unrefined substance. Assuming the business is fabricating business, we want to pick a spot that is extremely near the natural substance. This will save the transportation expense a finance manager may he causing.

 

[Kendy]

In business, I can assuredly posit that location plays a major role in maximizing of profits. When setting up a business plan, it is pertinent for a business owner or an entrepreneur to place priority on the location where the business would be situated. It is important to always position a business where your target or specific audience would be accessible. For instance, if you want to operate a computer shop or printing press, it would be more profitable if you set the business in an urban area where there are firms and editorial personnels and also to set up such business in areas close to higher institutions and schools as a whole. If this business were to be situated in a rural area where there is no basic amenities like electricity which would be a requirement for such business then the business is more likely to crumble because those occupants of rural settlement are not exposed to digital facilities and also the schools around do not even inculcate digital literacy into the school curriculum. When once a business plan is set and the location is not well planned and strategic, it shows that the business plan is faulty and needs to be worked upon in a prompt manner.

 

[Good luck]

For a business to flourish or boom,you need the right location.there are strategic places to look up to.places that are busy with high level of people moving from one place to another.A place that is rarely scare of people but such place must have student.people who are learning or engaging in tutorial to prepare for an external examination or planning t do something else.Students really patronise you if they see you deals in good quality of materials and you also give discounts on every good purchase.

 

[eldavis]

The most important factor you need to consider when selecting a location for your business is your target audience. You might find the perfect location for your business where there is no competition and stress free. If your target audience is not found in that location, or do not have easy access to you, you would still end up making losses. It's like a person who sells alcoholic drinks and assorted wines, cause of competition, decides to startup the business close to a children's park, yes there might be some sales but it cannot be compared to when the business is placed close to a night club.

 

[funmi]

Location is undoubtedly one of the most crucial aspect when setting up a business venture a lot of people over look it and they get into several kinds of challenges in getting customers. If we sight our business venture far from the target where we are suppose to have in our business organization it will greatly affect the progress of the business as people will find it difficult to patronize from us. This was the challenge of a colleagues of mine who sells children wears she had been complaining of poor sales and one day I decided to checkup on her new shop and to my great suppress it was located in a complex where she was not even noticed let alone know exactly what she was selling, I told her to also stand from where I stood and that she should try to see if she can observe her shop. That was when she realise that it was even difficult for her to see her own shop. Then I told her and she was expecting others to now notice what she was selling. Then I told her to either get an extension or get a new shop that will be well pronounced.

 

[Yhubee]

A location comes in for an offline business and choosing the right location is very important for the success of a business. Now the location that is chosen for a business will depend on the type of business the person is venturing into because for some businesses they can be located anywhere and they will still have customers but some particular businesses do not need to located just anywhere. Sometimes nearness to the market comes in, sometimes it might not come in. Sometimes you do not have to locate your business in a very remote area as you may not have customers so it has to be in other areas where people are living around depending on the type of business .
The right location that you choose for your business will depend on the type of business you are venturing into as that will determine the success of your business too because location is very important. When a business is sited in places that are not favorable for the business they do not get customers and end up being at a loss but when the right location is chosen, customers can troop in and more profits can be made.

 

[Rachael]

In any business line we find ourselves, both offline or online, the location matters a lot. In the process of choosing a business idea, it always come or should follow in tandem with the right location in mind. The location plays a very vital role in the success of any business. Even when I use to get an invite for a job interview, if the location is not favorable and if there is no provision of accommodation, I would decline the offer. There are many situations which has led business owners to set the right business in a wrong location.


There is what we call in business, target or specific audience and when the business is not set in a location to meet the demands of these set of people it bounces back on the business. Even when we are following the online way, there are many businesses pages online and for instance, I am into selling of foot wears and I go to a group of catering services to advertise my business, it becomes an issue, although there is a tendency that everyone wears foot wears but that could be a misfire, because even though I may have a number of sales, but it would not be compared to when I would have advertised it on a group that concerns foot wears.

 

[TOZZIBLINKZ]

Business location plays an important role in determining how profitable and lucrative your business will be , business location does not only mean finding a environment suitable for your business rather it also involves conducting a feasibility study about the taste and preferences of individuals living in that area so as to know whether your business will receive patronage from the public and indeed accumulate profit as expected or planned . for example if you want to open a bread factory you must first of all conduct a feasibility study about the area in which you want to establish your bread factory , you can start by finding out whether the people in that area eat bread and even though there is bread you must know what type of price of bread they usually buy so as to know the priczation of the bread in which you want to produce . information like this gotten as a result of your feasibility study will actually tell you whether to leave the area and look for a more better one or to possibly reduce the price of the bread you intend to produce and sell .

Finally , if your business is the type that has to do with the act of buying and selling it must be located in an area with higher population and also it must be located in that area with low crime rate so as not to become a subject and victim to crime indulgers .

 

[blessingc]

When getting a good location for business, you consider the kind of business you are doing and your customers too.
Some of this things to consider include: space, make sure you get a place you can afford, consider your products and how to get supplies, a safe location is important, getting a place with high demand and where you can easily recruit staffs.,

 

[Sotherefore]

I don't really think there is a way you can be able to get rid of competition in your business or whatever you are interested to start up . Competition will always be there whether you like it or not but how we can be able to organise our business to a point that we are also able to compete even in the face of severe competition is what will determine how successful we will be.

A lot of people have bad marketing strategy and this is always one of the things that leads to failure in most business people are establishing , and as a result we are expected to carry out proper advertisement depending on our business and what we want to achieve in the business .

Another thing is that, we are always being advised that Urban settlement is always the best location for business , well in as much as this is exactly the truth but if we are establishing a business in the Urban settlements , there will be no way to escape competition because there will always be some sort of competition.


Things that will really help you at this point will be your marketing strategy and your general behaviour with customers.

 

[Ithedicious]

I understand you perfectly, opening and operating a business in the midst of high competition won't really help you or in the progress of your business because you will have a lot of competition to overcome before you can even think of making progress in your business.

As a result of this knowing a perfect location to establish a business is of a greater advantage to the business owner because this would increase competition and at the same time it will also help you make faster progress in your business.

It could somehow be challenging because naturally an urban settlement is always the best location for business. But in a high populated area there is likely to be high competition . Normally it may not really be possible for people to avoid a high populated environment to set up a business in a location that is not populated because setting up a business in a less-populated location might indicate that the business may progress sluggishly which may not be able to yield they desired profit within a particular period of time.

I don't think there is a way you can avoid a high populated area because that is where competition and business progress lies

 

[samual]

Knowing the location were to start a Business is the first step to take, if you want to make money in the business you want to start.

 

[Holicent]

You should understand that the elements that make an ideal business location will vary from company to company and industry to industry. However, the most important qualities of an ideal business location are access to resources and talent, a favorable tax structure, and opportunities for growth.

When looking at potential business locations, you should consider whether or not the location will have access to the resources you need to succeed. For example, if you are launching a food company, you need a location that has access to fresh foods or water sources. If your business is in the tech field, you want a location with access to highly skilled workers. And if your business is service-based, you want a location with high foot-traffic or easy access for clients who may be coming in from out of town.

Another key element in determining an ideal business location is the tax structure of the area. Some areas offer significant tax credits for businesses that hire locally or provide specific services to the community.

Finally, an ideal business location is one that offers opportunities for growth. If your business starts out small but has ambitious plans for expansion later on, it's best to find a location where it can grow. This might mean finding something in an industrial area with space available rather than choosing a more expensive storefront on a main street.

 

[Jasz]

When choosing a physical location for your business, there are a number of different factors that should be taken into consideration. While it can sometimes be a daunting prospect to think about the levels of preparation and organization needed when choosing a site, the most important thing is to ensure that you find a location which not only provides everything that your business will need – but also utilizes every possible advantage to represent your business in the best possible way.

One of your biggest decisions as a new business owner, is where to set up shop. Factors to take into account may include: local population, level of competition, and availability of resources.
Businesses now value their relationship with the community in which they find themselves. The degree to which businesses and their quality of life ties does not end with good quality work space that is cheap, but it is essential for a business to feel a part of a growing network as well as being apart of the community. This is why many businesses choose to be in an urban hub or suburban setting where they have easy access to many different companies and services. Businesses will base their decisions on transportation, weather and security when choosing this sort of place over a rural area.