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location of a business

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Introduction

One of the fundamental points to think about when setting up a business is the location. There are various different factors which affect a business location. My business is a caf� so there are specific things I must take into account. These include: * Transport- A business could need transport links for things like raw materials. I will need to make sure that it is easy to have stock delivered/ bought. I will also need to make sure it's somewhere that is accessible to my workers and to myself so that it isn't a trouble for workers to be on time. In case of an emergency, it's sensible for me to live near the caf� so I can easily get there quickly. * The cost of premises or land- Depending on what business you have, you need to think about how much money you will have to spend on rent. As I am a sole trader, I only have the capital I am putting in. I want to try and keep costs of rent down. ...read more.

Middle

You need to be near to other businesses as well so that supplies can be provided, could save delivery time. I will make sure when looking for a location that my source of stock is easily accessible. This will save me delivery expenses. For caf� Sophia, I am aiming to find a location in which customers can be attracted easily, a location that is quite busy, doesn't have too high rent and somewhere which isn't too far away from suppliers. I have decided to put my caf� on Golders Green Road because it seems like a suitable place. It will attract customers because it's a very busy road and there is a station very nearby which could also attract customers. Having done some research, I know that I am likely to find employees who live nearby which is good for me because it will mean they should be punctual- it will be easily accessible for them. It is a residential area, which means not only will I be able to find staff easily, there is a lot of opportunity to gain customers. ...read more.

Conclusion

* Lots of competitors which could mean my business would have to make sacrifices to prosper and this could bring the profit down. I would ideally have chosen a place in the centre of town like Oxford Street but as rent is much higher and myself being a sole trader to begin with and introducing a new business it might be better to first keep it a bit quieter and cheaper. As I hope my business will prosper, I would expand to places like Oxford Street. If my business were to fail, the costs would be much higher in a place like Oxford Street. I could have also chosen Brent Street which is a main Street in Hendon which similarly has many cafes and restaurants and is very busy but I chose Golders Green Road as I thought that being nearer to a station could be an advantage because it could attract more customers. I will have to find ways to cancel out competitors. I may cut my sale prices at first to attract new customers to my products. Below is a map of Golders Green Road and where I will be located Sophie Truman Coursework 3 Location Of The Business ...read more.

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