The Impact of Location on Business Success

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The location of a person's business is one of the most important variables in determining potential success. Businesses need to establish locations that generate the most customer traffic. The impact of a business location can usually be determined immediately.

Significance

  • A business needs to be located in an appealing area that is accessible for most transportation and mass transit. If it is not in such as area, the owner will have trouble making a profit or even covering their overhead.

Benefits

  • A business that is located in a desirable area will benefit from the exposure and foot traffic of other neighborhood businesses. Moreover, the right setting for a corporation's headquarters can project a positive image that is more inviting for potential customers.

Size

  • Retail companies usually study the size of a market as well as the amount of competition before establishing a business there, according to Businessknowhow.com. A market that is too small or highly competitive will impede potential sales and profits.

Effects

  • Businesses like coffee shops that are located in areas that provide amenities such as high-speed or wireless Internet service stand a better chance of attracting more professionals or entrepreneurs.

Considerations

  • Businesses often choose their location where they can enjoy certain tax benefits. The extra savings on taxes can create a more positive cash flow for the business.

References

  • Photo Credit Image by Flickr.com, courtesy of Nattu
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