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What can be the reasons a location is the most important aspect considered in business?

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A good location can make the difference between a profitable and a bankrupt business. There are many questions to consider when choosing a business site. Use the questions below as a checklist for potential locations and then compare several sites.

  • Are there parking facilities?
  • Is transportation available and convenient?
  • Is the quality of police and fire service adequate?
  • Will it be a quality site for the future—not just five years from now, but in 10, or 25 years?
  • Is nearby housing readily available for management and employees?
  • Is there nearby competition? Are those sites better or worse than yours?
  • What is the general business climate in the area? Is this a prosperous market?
  • Are merchandise and raw materials available? Are your suppliers easily accessible?
  • How is the traffic flow—can your customers reach you quickly and inexpensively?
  • Is your building suitable to your kind of business—will it need any major renovations?
  • Is there an adequate community infrastructure for utilities (sewer, water, power, gas, etc.)?
  • What is the tax burden—town, city, county, state? Will this impede your business and growth?
  • What are the costs of operation in this location—will it be too high to offer you an adequate profit?