Part 1: Developing a Business Plan
Location is an extremely important factor for many busineeses. For most retail and many small service businesses, location is critical to success. Customer access is very important when evaluating a location. For wholesale and manufacturing businesses, the availability of resources such as labour, materials, transportation, and utilities can be important features of a location.
Describe the location of your business.
1. What is the address of your business?
2. What features make this a good location for your business?
3. What other nearby businesses will help you attract customers?
Describe the appearance of your business.
1. Describe your building. How old is it?
2. Will the appearance of other nearby busineeses attract or encourage customers?
Determine the future needs of your location
Could you expand the facility if required?
Prepare visual aids to show location to outsiders
It is often easier to describe your location to an outsider through the use of maps, pictures, and a diagram of the layout.
• Take pictures of your business and the business surrounding it.
• On a copy of a map of the area, indicate the location of your business and any major reference points.
• Draw an accurate diagram of your floor space. Show the location of equipment, furniture, and fixtures
Place these visual aids in an envelope marked Location and attach the envelope to the Business Plan.
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