Business Locations Make Or Break

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“Shallow men believe in luck, strong men believe in cause and effect”
–Ananymous
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”Business is like a wheel barrow. Nothing ever happens until you start pushing”
–Charles Bickens.

A student working out of his bedroom with initial capital of just $1,000 only 22 years of age in 1984, naive but daring founded the Dell Computer Corporation, as a small order business. Today that business has grown into a multi-billion dollar, Business Empire.

Business Location is the life blood of any organisation. It could either add to the corporate image, destroy it, add to the running cost of the organisation, reduce it drastically or make production and accessibility easy. As a start up it is always adviceable to make do with what you have and gradually you could move to a better location.

What Location does?
Tells about your target customers.
Could increase sales and patronage if well located.
Forces down production cost.
Works like advertisement
Makes accessibility easy and possible.

According to Roy Kroc of Mc Donald “the Real Estate and location of the fast food is the most significant factor in its success” adjoining roads, high brow areas, traffic areas etc. are better location for this industry while residential areas are suitable for siting a creche, nursery and primary school for the convenience of parents. A supermarket and chemist will not thrive in industrial areas, unlike in a neighbourhood.

In siting any business the businessman or woman must ask himself the following questions:
• Who are my prospective customers?
• How much do I have as capital
• Where are my raw materials located if I’m into production?
• How will the cost of movement affect the price of my product?
• Or how will the cost of transportation impact on my customers?

The list is endless
It is becoming more and more urgent for businessmen to site their businesses closer to their customers, in order not to be cut off from competition through “guerilla marketing”.

As an upcoming entrepreneur operating from your room could just be the most ideal location for your young business, instead of moving into obscurity at a cost, while this may not hold true for a corporate outfit or a law firm.

Your corporate image is as important as your business especially for those in the service industry. “If I must pay you such an amount of money then you must be worth it.” That was what a client said when he left a lawyer’s chamber.

Ideal Business Location
In siting your business you must take note of the following:

Neatness: The environment must be neat and not rowdy.

Accessible: Your clients and customers must be able to access you.

Affordable: When cost or overhead exceeds profit then the business is said to be a “dog,” a business that is unprofitable. Your location must not strain your budget.

Nearness: Also, your location must be close to raw materials if you are into production, to reduce cost, for example Onipanu, Surulere and Mushin are the centres of printing. A young printer would do himself a whole of benefit to be located in such areas or double his efforts in other locations.

•Nwagu David is a leading business coach, a professional stock market analyst and a motivational speaker. You can reach him on 08065470051 or e-mail: campus_companion@yahoo.co.uk.