ESSENTIALS OF BUSINESS LOCATION

[Yakub02]

Business location is referred to as a place where business activities reside as a centre to connect customers and clients.

It is a very crucial decision when deciding on a planned business ideas. Without careful planning for a resourceful location for a business, it may spell doom for the business.

A business, be it a newbie one or existing one should consider certain factors before choosing a location for our business.

AVAILABILITY OF CUSTOMERS. The place we intend to locate our business should be a place that is accessible to get multitudes customers that actually a are in need of our products or services. Customers population is not a static parameter but it can be progressing or retrogression, it depends on the management brilliance.

ACCESSIBILITY OF GOOD ROADS. Good road makes it easy for intending clients or customer to reach or get access to our business domain. Bad road will not only discourage customers but also give opportunity to our competitors to take our customers. If getting to us is hectic, they take alternative.

AVAILABILITY OF RAW MATERIALS. In the case of a manufacturing business, rwa materials is prerequisites for finished goods. Therefore availability and access to get raw material to be supplied to us or the natural environment gives easy access to raw materials. This will not only add to our profitability but also allow us not to be out of stock.

BASIC INFRASTRUCTURE. Basic infrastructure like electricity and internet that is steady will definitely improve the business existence .

In a summary, Business will thrive in a friendly location and beneficial environment.

 

[Knowlopedia]

When starting your business, the location of your business is an important factor to consider. The following are some basics to consider when locating your business:

1. The area around your business. This includes the surrounding neighborhoods, schools, hospitals, and other businesses.

2. The cost of living. The cost of living can affect the amount of money a company can bring in each month.

3. The availability of space. There are a lot of businesses that are not allowed to operate in certain areas.

4. The availability of employees. There are a lot of businesses that are looking for employees and are not willing to take on employees from a different city.

5. The accessibility to transportation. The availability of transportation can affect the amount of time a business can take to get to its target market.

6. The availability of parking. The availability of parking can affect the amount of time a business can have to get its products and services to its customers.