It is a great advantage established business close to where you live because you must have already established a brand and you must have built loyalty. Such business will grow very quickly. The disadvantages in establishing a business close to where you live is the thought of selling your items based on credits because of the familiarity that is involved and that would kill the business so fast.
Should you establish a business close to where you live?
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I think the most important thing we should look out is not if the business is close to where you stay or not, but rather if your target audience can be found there. Your business could be far from where you live but it does not guarantee success.
Sometimes it's not necessary to set up the business on the place that you live. Determining the business location entrepreneurs must focus on the important factors like the availability of the market and the accessibility to means of transportation.
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You have made a very very point. 0ne of the features that you would enjoy if you establish a business very close to where you live is that you would be able to generate enough support and the business would grow very fast as well.
That's true and you're also friends with them. There's no awkward situation and they can also understand if being denied of buying through credit successively without paying the previous first.
Establishing a business close to where you live has advantages like reduced commute time and familiarity with the area. However, it depends on factors like target market, competition, and business needs.; Being nearby can facilitate management but may limit market reach or growth potential.
The location of a business is of paramount importance to the success of the business. The business should be located near the target audience. Whether it is near your residence should not be an important criteria.
It would be better if it is set up in a an area where there is access to many and not just those who live around you
If your business is close to where you live, it would be massive plus to you as you would be able to easily manage the business.
