Question

Location Analysis ( for the online business of shoes)

1. Explain the general area where your business will be located, describing the surrounding population of potential customers (provide numbers).

2. Describe any other factors in your choice of location, such as your proximity to transportation, suppliers, or relevant services.

Answer 1

1. Location plays a very crucial role in deciding the future of any business whether it be online or store operated. Location contributes a lot in deciding the profit margin and the increase in the sales volume. It is also very important in managing the existing customers and attracts the new customers. A shoe is a necessity in the life of people and now-a-days people are more inclined towards investing more into their shoes as now it has become a symbol of status. The location should be such that the people can visit often and this will help in increasing the sales volume as more footfalls will increase the sales and a satisfied customer will act as a promoting agent for the business. So, if a store in opened in a locality where the people often walk in will be beneficial for the future of the store. The residential areas will also be fruitful.

2. There are many other factors which could also be considered such as the transportation facilities and the storage facilities. These two factors are also very important for the shoe business as shoe is an item in which size matters a lot and it can be only possible when there is a place for storage and moreover the transportation facilities also matter because items can be brought for storage through transportation only.