Factors to consider when choosing a location for your business

[Augusta]

One of the things you would need to consider when sitting your business is the location of it. You should know by now that the location of a business will make or mar it's progress. So you don't just site a business any where you should put somethings into consideration to avoid the early failure of the business.

Factors to consider include:

The accessibility of the business: is the road motorable so that customers can easily access the location

What's the competition rate in the area with other businesses

What is the growth rate for your business in the area.

You need to consider the security rate of the area to avoid frequent burglary

You need to take into consideration the expenses that you would incurred daily from using that location to high overhead expenses

What do you think

 

[niche]

Greedy and dishonest neighbours should also be avoided to the extent possible. Though a lot of time and effort is required for running an online business, there are some who are blinded by their greed, who will harass a small business owner, to force the business owner to sell the business to them very cheaply.

 

[Augusta]

Greedy and dishonest neighbours should also be avoided to the extent possible. Though a lot of time and effort is required for running an online business, there are some who are blinded by their greed, who will harass a small business owner, to force the business owner to sell the business to them very cheaply.

I believe you are talking about sitting your business near your neighbor or neighborhood that hsve very greedy and dishonest people. Well, I think this is true because you would hsve to deal with one credit or other. And they might not even be willing to pay. So this too should be consider when thinking about a site for your business

 

[btaliat]

Location is the first determinant of how a business will end be. A business that doesn't have a God location may not be very lucrative at the end of the day. There is need to choose where there will be market to the bhsiness and also where it will be closer to get raw material for the business.

 

[Augusta]

Location is the first determinant of how a business will end be. A business that doesn't have a God location may not be very lucrative at the end of the day. There is need to choose where there will be market to the bhsiness and also where it will be closer to get raw material for the business.

You are on point. This is why starting a business is a serious thing itself. Failure of a business stens from a lot. It isn't just about copying others but do you have what it takes to succeed. Locsting a business needs a good site where you would have a good amount of sales

 

[Skysaint]

Location of a business is one of the factors to take very seriously while setting up a business because it has the tendency to determine how your business will be, whether or not it will thrive. There are some businesses meant for the urban areas although most of the businesses will thrive better in the urban settlement but there are still a few businesses that will also thrive in the rural settlement such as agricultural business. For agricultural/vegetable business to thrive in the urban area, you need to make it look very standard and not just the road side kind of business. Wholesaling business will also do better is a sparsely populated area.

 

[Mandy96]

I think location plays a vital part in starting a business, you will have to check if what you are about to be selling is fit for such place, can it bring you good rate of sales. You must be able to think as twice as your customers. Because you are the seller, you are the one that wants to collect money from them, so you have to think beyond. And like the poster also said, you have to consider the amount of competitors that might be your neighbor where you will be choosing. This is also important because if there is plenty of that, it may reduce the rate of patronage