Location – It’s Importance In The Success Of A Business

“Location, location, location” are the three things real estate agents insist on while determining the desirability of any property. The same “location” plays a vital role in the success of a business as well. Consider, for instance, the scenario where the owner of the new boutique kept wondering why people were not visiting his shop despite having the trendiest stock at his shop which was located in a quiet by-lane of a residential society. Little did he realise that his shop location was hampering his business. Similarly, a grocery shop located on the second floor of a building had adopted all the latest display techniques in his spacious shop but that too failed to draw in the customers, since a grocery store needs to be quickly approachable for a walk-in crowd as well, which is not possible on the second-floor store.

All this ascertains the fact that location is of prime importance for every business and can help the business grow or at the same time can dampen its progress. Interestingly, the type of business is also important while considering a location for the business, for instance, a business catering to the requirements of the elderly will find few seekers close to a college but many visitors near a hospital or a gated old-age community.