Business Location Flashcards
What factors should businesses consider before deciding on a location?
Target market
Transport links
Foot traffic/fall
Rent costs
Supply of labour
Competition
Access to supply
Communication links
Why should businesses consider target market as a factor?
Is there enough of the business’s target market in the area to be able to sell to
Why should businesses consider transport links as a factor?
Is the business near rail, road, bus for suppliers to get to them
Is it near a post office or a delivery firm to be able to deliver the products to customers
Why should businesses consider foot traffic/fall as a factor?
Is the business placed in a position that passing public will see it
Why should businesses consider rent costs as a factor?
Is the rent affordable
Why should businesses consider supply of labour as a factor?
Is there enough people looking for employment in the area for the business to hire
Why should businesses consider competition as a factor?
Is the business near competitors for people to locate them easily
Why should businesses consider access to supply as a factor?
Is the business in an area that is easy for suppliers to get to
If they have to travel further, they will charge more
Why should businesses consider communication links as a factor?
Is the business in an area with good signal for card payments and/or online payments
