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The factors that play a significant role in the placement of these two different businesses are actually the same. Supply and demand are the most significant factors of all. Where is there a strong need for this product, where can production take place to insure efficiency as well as insure that the location is cost effective? A plan is needed to map where the business is starting, as well as projected growth for business in the future (Graham, 2003, pp. 1-4). Another important factor is whether one's business would lose money, time, or productivity in regards to location. These factors all play significant roles in determining where to locate a business for optimum proficiency and productivity (Covey, 2004, pp. 2-3). It is easy to overlook questions like; where does one locate a business, and what factors play a role in the decision making process. Market research is a method that continues to maintain its usefulness. Until this resource becomes used to the fullest potential, there is the possibility of missing key market specific information. Not only will ones business depend on location, but also one will be "planting your business tree" there and will need to able to maintain it for years to come. The worst thing one can do is pick a place because it is less expensive....
One's address can be the first thing people will ask for, and it can say a lot about ones business (W, 2005, p.1).
References
Covey, S.R. (2004, August 16). Too Many Goals Means Productivity Can Suffer. Getting Ahead- Building Your Business and Advancing Your Career, pp. 1-4. Retrieved 7/27/05, at http://www.business-journal.com/survival/articles/startrun/TooManyGoals8-16.html
Graham, J. (2003, November 10). 10 Danger Signs of Short-term Thinking. Building Your Business and Advancing Your Career, pp. 1-4. Retrieved 7/27/04, at http://www.business-journal.com/survival/articles/startrun/ShortTermThink11-10.html
Salvaneschi, L. (1996). Location, Location, Location (How to Select the best site for your business) (1st ed.). Louisville, Kentucky: Oasis Press.
Womanowned.com (2005, May 13). Location, Location, Location. The importance of Choosing a Good Business Location, p.1. Retrieved 07/27/05, at http://www.womanowned.com/StartUp/KnowThyself/Quiz/Location.aspx
Womanowned.com (2005, May 27). Undertaking Market Research and Concept Development. The Importance of Market Research, pp. 1-2. Retrieved 07/27/05, at http://www.womanowned.com/Growing/BusinessPlan/MarketResearch.aspx
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