Business Location Importance 101
Today we’ll be looking at business location importance 101 or basics of business location if you like. This is to show you that the location you choose for your business is important in that it dictates whether you’ll succeed or fail.
The location you choose for your business as we’ll shortly see in the business location importance I’ve lined up for you, has the power to determine how many customers come through your doors on a daily basis. This in the end determines whether or not you’ll be around for the next 5 years.
Before we go ahead and look at the business location importance, lemme say that traditional or physical businesses are the most affected. This is because their ability to reach as many people as possible is somehow limited (unless in the case where money is not an issue). Online businesses on the other hand can be everywhere at the same time, thanks to the internet.
Business Location Importance #1:It Affects Quantity Of Sales
If your business is conveniently located in a populous area, then you can be certain of making large volumes of sales every other day.
If on the other hand your business is located in an inconvenient location, (i.e. where not many customers have access), then you won’t be able to make significant sales. This means you’ll be out of business sooner rather than later.
Business Location Importance #2:It Can Help You Stay Ahead Of Your Competitors
If your business location is more convenient compared to your competitors, then there’s a high probability (if you play your cards right) that you’ll be able to outsell them.
Business Location Importance #3:It Affects Your Reliability
If you’re located far away from your target market, then your ability to deliver on products and/or services is to some extent hindered.
If on the other hand you’re conveniently located where you have easy access to your customers and vice versa, then your reliability will be rarely compromised.
Business Location Importance #4:It Influences Your Marketing
This is one of the most important business location importance.
There are some businesses whose marketing efforts result in massive growth simply because they are located almost everywhere e.g. MacDonald’s.
Others barely see any results from their marketing efforts simply because their location is a bit off i.e. they are scarcely located hence people tend to forget about them.
Business Location Importance #5:It Affects Your Overall Success
If the location of your business poses a challenge to your target market or increases some of your costs e.g. transportation costs, then your business faces the risk of not being around for much longer.
You should take time to do proper research in order to figure out whether or not a particular location is right for your business.
My Take On The Above Business Location Importance
If you’re running a traditional or physical business, then it’s really very important to choose your business location wisely because if the above business location importance are anything to go by, your business location pretty much DICTATES whether you’ll succeed or fade away never to be heard of.
If on the other hand you’re running an online business, then the good news is that you can use the internet to easily boost your brand to every part of the world that you deem profitable. The above business location importance won’t affect you as much in your search for business locations.
The fact that your business is online based gives you the ability to leverage the internet to be everywhere at the same time. You should however keep the above business location importance in mind since business is business, irrespective of its nature.
If you found value in the above post on business location importance, then please leave a comment below and don’t forget to share 🙂