Some businesses, especially those wth a physical premises, will always be needed. AI has come a long way, but we can’t expect it to overtake the barbering and salon industries anytime soon. Moreover, while you may have the best recipes passed down through generations of your family, setting up the fourth Italian restaurant within a square-mile radius is probably going to be a difficult proposition. Not impossible, just harder than it needs to be.
While the internet can seem borderless in many respects, it’s also true that we still need to sell to real people, an area, a type of demographic. Preferably multiple, but you need to know where they’re most likely to buy and why. There’s a reason Disney situated its parks in Paris and Florida, for example.
But how do you determine the best possible location your own business could operate in, especially if you’re restricted to where you live (most likely), and the cities surrounding it? Let’s explore that, below:
Consider Any Gaps In Local Services
The most useful insights usually don’t come from staring at data sheets; they come from standing in line at the bakery, noticing that the guy ahead just complained about how far he had to drive for a decent car wash, or chatting with a neighbor who wishes there was a late-night pharmacy nearby.
If you have the mind to hear them, such local frustrations are opportunities in disguise, and you’ll see most people talk about them without thinking. If someone in your area is grumbling about the same issue week after week, chances are it’s not just them. Keep your ears open on buses, in coffee shops, at school pick-ups, or any other considerations in proximity to your considered business idea, it might help.
Talk Directly To Potential Customers
No survey tool or software can really help you match the honesty that slips out in a casual chat. People don’t mind saying what annoys them or what they’d happily pay for if it existed right there on their doorstep. A few friendly questions asked at the right time can give a fair amount of clarity.
But what do you ask? Well, simple is always better - what’s missing? What do they wish was more convenient? Who do they usually buy from and why? The answers might not be what you expect, but they’ll guide you toward shaping something people might welcome, and if you want a wider sense of these impressions, check online reviews and social media too.
Research Competitors Already Operating
There’s nothing stopping a new business hopeful from taking a slow walk around town or scroll through local listings and check who’s already covering that ground. A packed street of nail salons might not need one more, but a single and tired-looking bakery might suggest there’s space for a fresher offering. Perhaps there’s a business like your idea but not quite that good, such as those not using merchant account for headshops to convince customers of safe transactions.
Even if there is competition, you can look at how competitors price their products, how busy they get during weekends, and where customers seem satisfied or left wanting. Spotting where demand is already strong and where you could step in with something sharper, friendlier, or better placed is the hallmark of good business sense.
With this advice, you’ll be certain to check if your area is really near that business.
