Why Business Location is Key

Why Business Location is Key

How location impacts the success of your business.

By Marcia Smith

Location can be an important factor for some businesses – but it’s not the only way to entice new customers.

Some businesses don’t have to worry too much about location when it comes to marketing. A takeaway restaurant that relies on flyer marketing, for example, could easily choose the cheapest location in town. These days, web-based companies can often locate themselves just about anywhere in the world, and their location is often irrelevant to their customers.

However, for businesses with a shop front, location can be very important – particularly when trying to attract customers away from a competitor. A convenient location, good parking or transport links, and a visible high street presence to increase recognition of your brand can all help encourage new customers to give your business a try.

Remember, though, that location will have other kinds of implications for all businesses. Prime locations are likely to cost more, impacting your profit margins. Some locations might not be great for deliveries or pick ups, or lack vital utilities or local infrastructure. Others might be tricky for your staff to get to, impacting on your recruitment and retention. Plus, any decision to relocate could incur significant expense.

A new location might be right for your business, and it might be successful in attracting customers from your rivals. However, relocating is a big decision with many implications, so it’s always worth thinking what other steps you take first of all – such as special offers, diversifying your product range or improving your customer service.