Choosing a location for your business
Choosing a location for your business can be very difficult. You have a number of factors to consider. These involve both money matters and non-money matters. The best solution is to balances out money matters and non-money matters. A very important element is the cost of land. You preferably want land, which another business has not previously used. If they have the land is already going to be much more expensive. I will need to locate an area that will enable me to exploit the market. There is no point putting my sports rentals and bar in the middle of a city full of old people.
Rather I should put it near a park where loads of kids come. A key factor for placing my business is a pace where I can find labour and preferably cheap labour. It is pointless building a business on a cheap site, have loads of customers but having no staff. No staff means no business. I should open it up though in a rich area otherwise I would not be able to afford the staff’s wages. It is a good idea to open up where there is a high unemployment ratio. Not only will it keep labour costs down but also the government will give you certain benefits for providing jobs for the unemployed.
You should also not open up next to competition as you may lose out because of this. It is also a good idea to set up a business near public transport, as that is how the majority of kids travel. I have chosen to set up my business next to Golders Hill Park. I have chosen this site since it is a big park a large quantity of people will go there so I will get quite a large amount of customers. They have astro-turf pitches, basketball nets, tennis courts, an area for cricket and rugby and slopes for skateboarding.
There is also a professional football ground nearby so I will obtain lots of football fans that will want to visit the bar. The cost of land is an average cost. It is in a fairly wealthy area but as I am making it next to the park it is that much cheaper. There is a two tube stations with a mile of the shop and bar. This is a good area to have employees. There are a fair number of young people in the area looking for jobs, obviously I will need people older and with a bit more experience in the bar.
There are a number of young people in the area and pub people so it is situated in a fairly good area. I will not need to import any goods as I will be getting it all from the UK. On the next page is a map of Golders Hill Park and its surrounding area. This map above shows Golders Hill Park and the area half a mile around it. There is a bus station half a mile a way from the park. This is a fairly big bus stations with twelve different buses departing and arriving, from it and to it. There is a tube station as well.
The station is on the Northern Line so it covers quite a large amount of areas. There are Post Offices situated either side of the shop. This is good as any important letters can easily be delivered. Another good thing is that it is situated next to a number of tourists’ sites. There is on the right hand side there is a school. This is good, as when the children have school day is over they would come round to the park and rent out some equipment. On the left hand side there is a cinema.
Once they have watched a film they may want to cool off by playing sport, or eating and drinking. Near the shop there is a hospital. This would be a reasonably good place to hand out leaflets as it is crowded with lots of people. I rejected the following the following location up at Chelsea. This area I rejected since the land there costs a fortune. Furthermore more people visit Golders Hill Park than this place. The only real advantage it has is being next to one of the biggest football teams in Britain so you would have quite a number of fans wanting to drink at the bar.