What Role Does Location Play In A Business Growth
Though the gap becomes narrowed down as the internet has pushed businesses to a new level of exposure. Back when it was less utilized or non-existing, physical location has been the heart of any newly set up businesses, in fact, it still is to some extent. Though there are several factors that could either contribute in growing your business or have a negative impact that runs it down, today, location will be our focus exclusively, so at least we'd tried to touch all it's angles.
Security; Customers and Employees
Let's say you run an enterprise, doesn't matter whether it's big or small scale, in small scale businesses, one may have little or no employees, it could be all runned by an individual, but notwithstanding, there's still going to be a second presence which is the "customers"
People generally care much about their safety, this influences where people patronize, so it in turn implies that a business owner should consider customers safety when setting up his enterprise. When we look back on how certain sectors were being brought into session, we'd realize that the banking industry came with a proposal to keep valuables safe, the world brought the idea because humans suppose they couldn't keep watch of their belongings well enough, then decided to entrust it in other people's hands, who will of course, keep them safe. Customers generally seek safety first before indulging in any business transaction, also, employees as well supposedly care about their safety respectively, so then, if a business is positioned in an environment that is life threatening, it is bound to crumble because two out of three persons ain't got balls to ignore insurgencies and crimes all in the name of business deals.
Demand in relation to Location
While security is an underlying factor, Demand is an open one which should be considered when setting up any business. Take for example, I decided to travel to an Islamic country where there's a tiny number of Christians, and my aim is to set up companies that supply Bibles to the nation, obviously that business is not positioned for success. Demand is a huge factor when venturing into any business, yesterday I visited the green field which I wrote about [here]( again, this time for more relaxation and photo shoots, this is an environment that is suitable for picnics and all sorts of recreation. I met a guy there who was renting out mats to visitors. He was also renting out different games like drafts. I stood there for a second to calculate just how much he was renting them for and found out he would be making good cash at the end of the day, the best part is that he's doing that effortlessly.
This is a business set up without needing to build a tall building, neither does it need so much employees to do the job for the profits, all that was required was proper thinking, considering what were the "wants" of humans at that location. It made me remember Splinterlands, how? Well, recently, I've read a couple of articles about cards and the rental markets, then again, I realize that cryptocurrency and blockchain technology is actually a lucrative option as @badbitch calls it, because it brings real world businesses to a digital rim, giving it a much user friendly atmosphere, where regeneration of income is easily practiced from the comfort of our homes.
Watching out for what is demanded before setting up a business in a certain location is very crucial, because if you ain't selling what the world is buying, you're running a business that is likely to crash in the near future…
Thanks For Reading Through, If You Found This Interesting, you may find a couple more below, happy life.