December 13, 2017
  • The Power of Applied Intelligence

Choosing a Strategic Business Location

In the marketing strategy, the selection of strategic business location becomes one of the factors that influence the marketing success of a business. The more strategic the chosen business location, the higher the level of sales and the effect on the success of a business. Vice versa, if the location of the selected business is not strategic then the sale was also not too good.

For that, before you start a business, select first the most appropriate place for your business marketing, do some research and compare some of the options before you finally determine the most strategic location for your business.

Business Location

Here are some factors that you should consider, as a consideration of the strategy of choosing a business location:

1. Population density around the site

Try to choose a business location that has a high enough population density. The higher the population density in a location, the greater the market potential of a business. Just try to compare the income of businesses location in rural areas with businesses that are in urban areas, the turnover obtain will be very much different.

2. Large income people around the location

Large income people around the location are also able to influence the business that you will build. Therefore, the level of people’s income will also affect consumer purchasing power. If you want to run a business with a slightly higher price product, you should select a location where purchasing power is high (eg in big cities). Whereas if you want to offer a product with a relatively cheap price, it will not be a problem if you choose a business location that the purchasing power of the people less too. Because consumers in the area are more concerned with cheaper prices than pay attention to the quality of products sold.

3. Pay attention to the level of crowd and then pass the passing vehicle

Note traffic passing vehicles or pedestrians passing by, because this also affects the type of business that fits in the Location. For pedestrian areas, a grocery store or cold beverage business is suitable. As for the location that many passable motor vehicles, can try more workshop needed. Adjust your business type with the consumers passing by at the location.

4. The number of businesses that support the location

The more business that is in the vicinity of the location, the consumers who come to the location is also increasingly crowded. Because in these locations there are various businesses that provide different products so that consumers are more interested in coming to locations where there are various businesses. For example, the location of the market, or a mall that always crowded visitors.

5. Adjust funds with the location of the business to be selected

Usually, the location of businesses that are in crowds such as malls, or on the edge of a strategic road rental rates are more expensive than the location of a less strategic business. For that adjust the funds you have, with a business location in the select. Do not choose a location where the rent is expensive, but it is not crowded.

6. Choose a business location that the level of competition is low

If the location is already a lot of business similar to your business, this location should be avoided. But if you believe in a very strategic position, you must be ready to compete by creating new innovations that can differentiate your business with other similar businesses.

7. Also, note the access to business locations

Try to choose a location that is easy to access by consumers. If possible, select the location of the business through which public transport. In order for consumers who do not have a personal vehicle can also reach the location of your business.

8. A supportive level of security

A secure business location also adds to the convenience of consumers. They will not hesitate to leave their vehicles in the parking lot and can welcome your business services with comfort. With a safe environment, you can reduce the risk of theft and destruction that can happen to businesses in less secure locations.

9. And the 9th is, pay attention to the cleanliness of the business location

Consumers will not visit a store, shop or an outlet in a dirty or shabby neighborhood. They will hesitate to buy your product. For that keep the environment around you, so that consumers feel comfortable visiting your business location.

Tips

Before opening a business you should know whether the building you rent or that you have created all has clear permissions. Such as permit on environmental impact analysis, building permit, and permit disruption. In order not to happen unexpected events, which will harm your business.

The number of business events destroyed just because no license can be an important lesson for you who are looking for business locations.Send regards to success.