Location represents where your business operates. This is where your company's products and services will be produced and sold. The decision of the choice of location is an important decision for your company because it must facilitate you the meeting of the customers and to offer the facilities of production of the goods and the services.
The choice of location
The choice of location varies depending on the sector and the nature of your activities. In some sectors, it is a determining factor in the success of your business, while in other sectors, it is much less important. For example, in restaurants, retail, convenience stores, gas stations, grocery stores and in services in general, the accessibility of services is very important. In the case of a pizzeria located on a busy street in the downtown area of a large city will be able to attract more customers than if it is located on a secondary and uncrowded street in a small village.
In cases where customers have to travel to procure goods and services, location will matter a great deal. Several factors will play an important role in choosing the company.
In the case where the proximity of the production of goods and services is essential, you must take into account the following factors:
- The distance from the place of residence (hair salon)
- Proximity to other services (engineering)
- Ease of parking (retail)
In the case where the business has to move, for example self-employed workers, the location of the business does not matter, because in many cases the business is at the home of the self-employed worker.
In the case where the production of goods and services is paramount, you must take into account the following factors:
- The availability of specialized labor (biotechnology);
- Proximity to raw materials (mine);
- The transport network (transport)
- Electricity and natural gas infrastructure (aluminum smelter)
- The land (farming)