A business startup refers to a business in the early stages of operations. Getting a startup off the ground involves proper timing, planning, and marketing. Starting a business requires lots of work. There are a lot of things to put into consideration, such as location, legal structure, funding, and so on. 

1. Funding: All startups require funding as startup capital for business. Some startups can get funding from different sources, like crowdfunding, loans, grants, or family/friends. This money will be used to start business operations and help fuel growth.
2. Legal structure: Startups need a legal structure that will best fit their business. Either a sole proprietorship which is for one person who owns the business or a limited liability corporation (LLC) which involves a partnership of different business owners. 
3. Location: Location is very important for any business startup to succeed. Location for business can be online, at home, or in a store. However, the location of the business you choose depends on the type of business (product or services) rendered. For example, a game shop should have a physical location so that customers can see a face-to-face demonstration of the games before a purchase is made. 

The role of the location In the success of a business

Before you choose a location ensure to understand the location it best sells. The right location will help attract the right customers for your business, increase sales and retain employees who are based in the same location as they can easily optimize a work-life balance. 

A poor choice of business location can lead to the failure of the business. To avoid this, you must choose a strategic location for your business. Here are the reasons why location is important;

1. To attract and retain talents.

2. Ensure real estate cost is efficient, it shouldn't be larger. 

3. The right business location will give the business access to other similar businesses to understand the business and improve the economic scale of that business area.

4. Choosing the right business location will help you reduce lower tax rates, as you don't want a location with a high rate of tax payment.

5. The right location will help grow the business, by increasing sales, accessing new customers or resources, and helping everyone to get around business operations effectively. 

Location can influence a business's ability to market itself, despite the competition involved in the business. Location plays a huge role in marketing, apart from a physical location it serves as a way of advertising your business. 

When choosing the location for your business, think about the following before making the final decision.

• Business image.
• Competition.
• Business plan.
• Security. 
• Laws and Regulation.

Related: Creative business marketing ideas 2022

Examples of different businesses and suitable locations

There are four common types of business locations;

1. Home-based business: 

If you like to work from home, you have to consider the nature of your business before setting up a space in your home for business purposes. Some work from home businesses include;

• Copywriter/Freelancer.
• Hairstylist.
• Gift box. 
• Baker.
• Caterer, etc.

2. Mobile business: 

This is the type of business that allows you to move from one place to another, the business location is not tied to one place. Mobile business owners can transport their business tools and equipment from one customer to another. Some mobile businesses include;

• Food truck.
• Cleaning services.
• Tutoring.
• Photographer.
• Event decorator.
• Moving services.

3. Retail business: 

This is the type of business that involves selling products or services to customers for their consumption. Retail business is carried out in retail storefronts, kiosks, or supermarkets. Some retail businesses include;

• Handmade crafts.
• A raw food business.
• Fruit bank.
• Thrift store.
• Bakery.
• Ice cream shop.
• Local gift shops, etc.

4. Commercial business: 

This is the type of business done by companies to provide goods or services for sale. Commercial business activity involves making profits by trading goods and services. Examples of businesses include;

• Restaurants.
• Cafes.
• Shops.

The choice of your business location depends on your type of business if your business is offline or online. The best location will readily market your products or services. 

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