Location of a Business
The location of a business is one of the most important decisions in a startup cycle. While some business mistakes can be corrected, it is impossible to repair location mistakes. The location of the sports and recreational sports complex is the first and most important consideration before starting operations. A new business seeks a location where there is security, competitive advantage, and accessibility.
Reasons for Choosing the Strip Mall
A strip mall fits the bill as an ideal location for the sports complex. Firstly, strip malls have access to natural lighting during the day since they have sidewalks on either side. That means that the business has low electricity costs (Kayacan & Yirmibeşoğlu, 2017). Even at night, the complex will free-ride on lightning from traffic lights in the neighbourhood. The sports complex can host night events and boost its revenues with sufficient lighting even at night.
Another important consideration for the location of a business is the parking space. A sports complex has to fulfill certain minimum requirements for parking space availability before starting a business (The Staff of Entrepreneur Media, Inc., 2019). Some event organizers require a minimum of 50-100 spaces before hiring a facility to host their events. Strip malls are appropriate since they have ample parking spaces at the front.
Demographic considerations were also important in selecting the strip mall as a preferred location. Income is an important demographic factor to consider before starting a business (Mary Jane Byrd, 2018). The sports facility will target individuals of higher income status since they are the ones who can afford such recreational services. There is high visibility for motorists since the sports complex borders a road. Most car owners constitute high-end customers targeted by the sports complex.
Foot traffic is an important consideration for many businesses. Some enterprises need quiet places with limited foot traffic, while others require mostly crowded environments (Kayacan & Yirmibeşoğlu, 2017). A sports complex should be located in a quiet place with limited foot traffic. A strip mall fits the bill because it has few pedestrian walks to the neighbourhood.
History and Image of Location
Moreover, the history and image of a business site is an important consideration. The level of security in the neighborhood influenced the choice of the location. Proprietors need to consider crime rates in an area before starting a business. Making the mistake of locating a business in an unsecured place may expose it to security threats. Besides, customers will not patronize a facility they think is insecure. Since the Sports mall will run even at night, there is a need for it to be located in a secure place.
Proximity to Other Businesses
Also, the proximity to other businesses and services when choosing a location for a new business is important. If there are businesses in the neighbourhood, a new business should consider whether it will benefit from them (Kayacan & Yirmibeşoğlu, 2017). Based on the customer traffic generated in the neighbouring businesses, the customers may turn to customers for the sports complex. For instance, patrons at a restaurant in the neighbourhood can be potential customers in the sports complex. Other prime locations for a sports complex are where there are many schools in the neighbourhood. Schools organize sports events from time to time.
Before starting a new business, a proprietor must come up with a clear picture of what they want the future of the business to be like. Figuring out this may be time-consuming and tedious, but it is important to pay attention since it is an important business process. The location of a business impacts the income of an enterprise, public presence, and traffic walk-ins.
Kayacan, T., & Yirmibeşoğlu, F. (2017). Site Selection Criteria for Sports Retail Sector: Istanbul Case. Current Urban Studies, 05(03), 290–304. https://doi.org/10.4236/cus.2017.53016
Mary Jane Byrd. (2018). Small business management: an entrepreneur’s guidebook. Mcgraw-Hill Education.
The Staff of Entrepreneur Media, Inc. (2019). 10 Things to Consider When Choosing a Location for Your Business. Entrepreneur. https://www.entrepreneur.com/slideshow/299849
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Where will your business be located? In a shopping mall? In a downtown location? What are the reasons for this decision? What things did you have to consider to make this decision? Please write about a page describing your business’s location and what the pros and cons are of it being located there. (Sports Complex in a Strip Mall
Reading Assignment: Chapters 12-14
Small Business Management: an Entrepreneur’s Guidebook
Mary Jane Byrd
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