Location, location, location; the old adage of locating a restaurant for maximum opportunity at success is basic business principle used in developing a business plan. Where your business is located can reduce costs, reduce travel time, maximize customer activity and even reduce your stress as an owner. Researching the location is critical to the overall success of your business.
The e-mails keep coming. A few days ago I asked my friends and family to be on the lookout for ATM’s. I describe the difference between a bank owned ATM and an independent ATM. I was strictly interested in the independents. I wanted to know exactly where the ATM is located, the name of the business, and what kind of business. With this information I am tracking the locations using a spreadsheet and a map with push pins.
Whenever someone wants to start a business, they ask their friends and professionals what they should do. The standard answer is always, ‘You need a business plan’. Really, do you? If I do, what is it and how do I proceed?
