chossing a location - Choosing a Business Location By...

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Choosing a Business Location By George Leposky The success of every enterprise depends at least in part on its location. As you begin a business, choose a location with exquisite care. You’ll work there for years -- or move later at great expense. That choice depends a great deal on the kind of business you want to open. For a retail business in demand practically everywhere, such as a gas station or hardware store, the size of the community you choose depends primarily on your lifestyle desires. For a more specialized retail business, such as selling computer or art supplies, and for many sophisticated businesses, such as writing custom software or running an advertising agency, a market big enough to sustain the business may exist only in a big city. Even with modems and fax machines linking businesses around the world, many clients and customers still prefer to deal locally. Within an urban area, choose the right business district. Here are some considerations affecting that choice for retailers and many service providers: • Proximity to your customers and competitors. A gas station or fast-food restaurant will do better by itself. Furniture stores, car dealers, and home-appliance stores tend to cluster together to facilitate comparison shopping. • Proximity to complementary businesses. Restaurants and ice-cream parlors tend to thrive near movie theaters, and clothing stores near department stores. • The cost of the premises. A posh boutique probably can afford a high-priced location, but a supermarket or auto dealer requires thousands of square feet of space and must locate in a less expensive area. For a service business that doesn’t draw customers to the workplace, select a location for
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This note was uploaded on 01/29/2012 for the course LOG 301 taught by Professor Dr.petters during the Spring '11 term at Trident Technical College.

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chossing a location - Choosing a Business Location By...

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