Choosing the right location can be something of a balancing act. Ideally, the location should be convenient for your customers, employees and suppliers - without being too expensive.
For shops and other retail businesses, location is of critical importance. Your location must attract customers.
If you rely on passing trade, you want to be in an area where enough people who want your product or service can see you. For example, newsagents are often located in or around train stations. You could also benefit from customers who are attracted by other shops in a shopping centre.
For employees, the best location will be easy to travel to. Good public transport links and local parking facilities or spaces make it easier for employees who don't live within walking distance. Employees also tend to prefer working somewhere with good local facilities.
You may want to be near suppliers for a quick, flexible service. Deliveries may be easier if there are good road and transport links.
You may not want to be too near your competitors, though clusters of similar businesses sometimes attract more customers. Your neighbours and your location also affect your image.
Location has a major impact on cost. If you need premises in a prime location the extra costs may be justified.
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