Unit 1.2.6 Business Location Flashcards
1
Q
Business location
A
Physical or non-physical place that a business operates from
2
Q
Zoning
A
- Local councils allocate land for different uses
- Such as residential, commercial, recreational + industrial
3
Q
Factors affecting location choice
A
- Visibility + accessibility
- Cost
- Proximity to customers + suppliers
- Proximity to competitors
- Complementary businesses
4
Q
Prime location =
A
customer convenience + visibility
5
Q
Advantages of shopping centres
A
- Variety of shops
- Plenty of parking
- Access to public transport
- Undercover w/internal walkways
6
Q
Disadvantages of shopping centres
A
- Expensive
- Must adhere to centres hours
- Subject to lease renewal
7
Q
Advantages of retail shopping strips
A
- High visibility
- Cheaper than shopping centre
- People live in area = strong source of customers
8
Q
Disadvantages of retail shopping strips
A
- Lack of parking
- Limited weather protection
9
Q
Advantages of online presence
A
- Accessible 24/7
- Reaches more customers
- Don’t have to pay rent
10
Q
Disadvantages of online presence
A
- Additional costs (advertising)
- No direct contact
- Chance of scams
11
Q
Advantages of home-based businesses
A
- Inexpensive
- Flexible working hours
- Reduced commute time
12
Q
Disadvantages of home-based businesses
A
- Low visibility
- Owner may feel isolated
- Lack of privacy
