Does location matter for a small business?
Business location efficiency
“Location location location!” This is what all real-estate agents say when they mention a home or a business. Having a great location trumps many various factors that encompass the overall sales. When customers go shopping, they usually think convenience. Customers love shopping in an area that is located in a prime region. For instance, more shoppers will be interested to visit a store that may be located in popular destinations such as a mall versus a location that is far and desolate from other businesses. Sure, specialty stores may not factor into this equation but businesses such as burger joints, retail stores, and boutique shops will benefit from high foot traffic areas.
If you happen to own a business in a great location, you have to be able to leverage that with bright ideas. Bright ideas are a combination of thoughts and actions that formulate a solid plan. And when location meets bright ideas, spectacular events can take place at your place of business. Hypothetically, let’s say your business was a phone accessories shop and luckily have a lot next to the apple store. Well, being next to the Apple store will most likely generate business for iPhone and iPad accessories. Having a great marketing plan attached to this can only make it that much more effective.
Same applies at indoor malls, outdoor malls, and shopping plazas.
If you happen to have a business in a poorly located area, it’s best to make your business appear bright as a star. When businesses are out of the way of convenience, you have to draw customers with the exceptional customer service and uniqueness. And the way you achieve this is by being listed anywhere possible from yelp, google, yahoo, to even the yellow books. Make your business noticed. The marketing side will also be essential as people are driving away from convenience to your location.
Many things factor into overall sales but location is a primary attribute.