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Location decisions

Location decisions. Mainly for start up businesses!. Aims…. Further detail to factors that influence a businesses’ decision to locate Reinforce key factors…. Share these with a partner… What do you agree on? What’s different?. Share these another pair… What do you agree on?

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Location decisions

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  1. Location decisions Mainly for start up businesses!

  2. Aims… • Further detail to factors that influence a businesses’ decision to locate • Reinforce key factors…

  3. Share these with a partner… What do you agree on? What’s different? Share these another pair… What do you agree on? What’s different? Using your post-it notes By yourself… Write down a key theory/concept that you can remember from last lesson…

  4. Video clip • Working lunch series 15 : 8 location _ hairdresser • When you watch this ….. Think about… • What were the key factors that influenced the entrepreneur’s choice of location?

  5. When choosing a location for your business, there are a number of important factors to consider: • Will the location be accessible to your potential clients? Is there parking nearby? • Is there a significant amount of foot traffic passing by your business? • Are you near a Metro station, bus stop or major intersection?

  6. When choosing a location for your business, there are a number of important factors to consider: • Is the space zoned for your type of business (i.e., industrial, residential, commercial or mixed-use)? • Will you have loading bays? Elevators? These are both in Dorking!

  7. When choosing a location for your business, there are a number of important factors to consider: • Is the price right? • What other amenities are included? • Will you have to build to suit or will the landlord outfit the space or provide funds for tenant improvements?

  8. When choosing a location for your business, there are a number of important factors to consider: • Do you want to operate your business from home? • If so, will the savings associated with running a home-based business allow you more money for your business? • Will you be able to reach your clients and customers? • Will you be able to run your type of business from home?

  9. Can you think of any benefits and problems of running a business from home?

  10. Working from home • Read article & answer 3 questions at the end. • Define what is meant by a “start-up”. • Identify three different cost savings that a home-based business can enjoy compared with an office-based business. • Outline the main factors that would determine when a home based business might need to move out to larger premises.

  11. Exam style questions….

  12. Questions…. Use your whiteboard….??? • List 3 types of businesses where it is essential to be based close to the customer.

  13. Questions…. Use your whiteboard….??? • List 3 types of businesses where it is essential to be based close to their resources.

  14. Questions…. Use your whiteboard….??? • List 3 types of businesses where location is not an important consideration!

  15. Questions…. Use your whiteboard….??? • Why might a business want to locate near to its competitors? A row of restaurants

  16. An evaluation style question… • Discuss the main consequences of getting the wrong location when starting up a business. (15 marks) • What issues would you use in this essay question? • Think back to the hotel HWK…

  17. Your task Worksheet Wladek’s gym.

  18. The figures….

  19. The Questions for class discussion…. • Q1 – show calculations to prove least cost site! • Q2 - Technology – look at the 2nd row in the table!

  20. The Questions requiring written answers…. • Q5 – you need to calculate the total cost for both locations and the total revenue for the projected membership numbers. • What are the profit potential if the gym’s reached full capacity?

  21. The Questions requiring written answers…. • Q7 – you need to look at the strengths and weaknesses of each location. Include both qualitative and quantitative factors. • You need to then justify which location you would advise Wladek to choose!

  22. Complete Q’s 5 – 7 for Homework Your task Worksheet Wladek’s gym.

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