2.  Choosing a location will be one of the most important decisions that you will make  Choosing a bad location could spell disaster  Choosing a good location could mean instant success.  The type of location you choose will depend on the type of business you decide to operate.  For example: clothing store, hair salon, manufacturing, restaurant, construction, etc…

3.  Downtown areas (Main Street)  Neighborhood Shopping Centers (Plaza’s)  Community Shopping Centers (The Mall)  Regional Shopping Centers (Smart Centers)  Stand-Alone Stores (Cambridge Soccer Club)  Warehouses  Industrial Parks  Operate from Home

4. Advantages  Central  Likely to attract shoppers Disadvantages  Parking Problems  Crime  Distance from suburbs

5. Advantages Low Rent Supermarkets bring in customers Disadvantages Attracts only customers who live in area

6. Advantages  Anchor stores bring in customers  Moderate rent Disadvantages  Distance is too great when convenience is important

7. Advantages  Attracts customers from a large area  Anchor stores bring in traffic Disadvantages  High rent

8. Advantages  Rent can be lower  Little or no competition next door Disadvantages  Extra costly to advertise  No anchor stores to draw in traffic

9. Advantages  Low rent  Can charge lower prices Disadvantages  Customers may not be aware of your business  Spend more on advertising your existence  No anchor stores to attract customers

10. Advantages  Cheaper to operate from home  Low rent, utilities, etc… Disadvantages  May be too difficult for customers to find  Spend more to advertise  Too many interruptions

11.  Use the Internet e.g. MLS.ca  Community newspaper  Drive/walk around town and observe  Get a Real Estate Agent to help you  Local Chamber of Commerce

12.  Open the word file and follow the instructions to locate a place to operate your venture, along with the equipment that you will need to begin operating.  Fill out the chart and total your costs.  This will help you form your Balance Sheet