location

Question 1

what are 5 reasons of why location is so important?

Answer 1

-costs
-proximity to competition
- footfall
- transport links/infrastructure
- close to suppliers

Question 2

how does being close to suppliers effect choosing a location for a business?

Answer 2

-can gain materials and supplies quicky
- can produce products quicker
- therefore sales revenue will increase
- you will also be able to cut down on transport cost

Question 3

why is transport links/ infrastructure important when choosing a location for a business?

Answer 3

-goods can be distributed efficiently
-ensures timely delivery
-reduces transportation costs
- staff to get to work easier

Question 4

why is proximity to competition important when choosing a location for a business?

Answer 4

-more likely to be considered by people making a purchase
-customers desire choice so this will increase sales revenue

Question 5

why is cost important when choosing a location for a business?

Answer 5

• some businesses can have limited start up capital so unable to get their desired location
  -if they overspend can cause business to not survive as there is not enough capital invested elsewhere into the business

Question 6

why is foot flow important when choosing a location for a business?

Answer 6

-lots of consumers walking past, that will purchase your products and want to come in as they walk past
-increase sales revenue

Question 7

example of a business that use foot flow as their most important reason for location?

Answer 7

retailers