What is a good location for business?

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Hello everybody,

Location is always one of the most important decisions for every business owner. Location drives in sales. Location is the best method to market your product naturally. In business, location is everything. Yet, there are a lot of misunderstandings about a good location in business. Therefore, the topic today is to clear the misconception about location as well as define what a good location for your coffee house is.

I was lucky to have a talented friend who open a coffee house. If you ever travel to Vietnam, an Eastern oriented culture, please don’t forget to visit Alvelo Coffee in Su Van Hanh St, Ho Chi Minh City. After several visits to his coffee house, my dream of opening one becomes bigger. Since I was in secondary school, I always dream of being the owner of the coffee shop, because it makes me feel happy and fulfilled. I fell in love with the smell of coffee seeds. Therefore, I have been searching for information of the coffee industry. Any concepts and ideas are valuable for me. If I open a coffee shop in the future, the first thing that I must concern is location.

First of all, what is a good location? Obviously, everybody desires a high traffic location, because it is good for business. It is a market-free position. It also helps to confirm your product in the market as being one of the best. But really, it also consumes your business a lot of money. For the start, high-traffic place definitely affect the shop financially, because the monthly rent will absolutely sky rocketed. The business also have to compete with high-profile businesses in the neighborhood such as other coffee shops, the banks, the renowned restaurants. Everything becomes the major threat. Therefore, high-traffic location does not translate a high turnover in business.

A good location comprises of understanding of your needs and selection of demographic. Like Jacob Jaber, CEO of Philz Coffee, said “Passionate people who start it because they are passionate and talented with coffee, not because they want to start a business.” Running a coffee house is not only about making money. First, to start a business, it is imperative to ask yourself these questions:

  1. Does the place large enough for the business?
  2. Does the building need repairing?
  3. Is the location meet the brand image you want to build and maintain?
  4. How is the neighborhood? Does it near the center of the town?
  5. How is the competition in the neighborhood?
  6. If you are the customers, do you find it convenient to commute to the coffee house?
  7. Does the place have a parking spot?
  8. Does it near public transportation?
  9. Is the neighborhood adequate to your type of business?
  10. Considering you want to expand the business in the future, will the building accommodate this growth?

All in all, a good location can mean different things to different people. However, there are subjective factors that make a location a good location. Answering these questions can have you well-prepared for your future business in terms of choosing a desirable spot.

Hope you have a good time reading my blog. I also wish that you achieve knowledge after finishing it.

Goodbye and good luck with your dream job.

Binh

 

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