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Prakhar SharmaTop Contributor
Social media marketer, Content Writer
Asked a question 3 years ago

Why is location the most important aspect of my business?

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Prakhar SharmaTop Contributor
Social media marketer, Content Writer

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.

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

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