The Basics Of Choosing The Location Of Your Business - Marvin Germo

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The Basics Of Choosing The Location Of Your Business

By: Marvin Germo | March 1, 2019

Location Is A Major Factor In A Business

Many people have ideas to start to their own business. Little did they know that good business ideas are the first step to the path of success. When followed by enough capital, good location, and perseverance, an idea will bring you so much prosperity and wealth you didn’t know you are capable of creating. Relative to this, a lot of you might think– yes, I have the idea, sufficient capital, and the eagerness to start the business, but where? It’s a common question to ask because we are all aware that location is a major factor in an entrepreneurship. To help you out, I have gathered my thoughts in this article to give you the list of the things you should know to finally come up with a location where you can start your business.

Catch me in my live training events! (quick plug)

The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more on how you could time the market checkout the trainings below.

Investing Insights (Dubai) – March 1, 2019
Stock Smarts Manila —  March 9, 10, 16, 17 & 23, 2019
Stock Smarts Cebu —  April 6 & 7, 2019
Investing Insights Japan – April 13, 2019
Stock Smarts Singapore —  May 18 & 19, 2019
Investment Conference 2019 – May 25, 2019
Stock Smarts Iloilo – July 6 & 7, 2019
Stock Smarts Cagayan De Oro – July 20 & 21, 2019
Stock Smarts Hong Kong – August 11, 2019
Stok Smarts UAE – August 30 – September 3, 2019
Stock Smarts Qatar —  October 3 – 6, 2019
Stock Smarts Taiwan – November 2, 2019

Define The Nature Of Your Business

Defining what your business is going to be is a top dependent of your location. Before you decide where you can put up your business, ask yourself– what is the nature of my business? Is it going to be a coffee shop, an internet shop, a restaurant, or a BPO business? Your location depends on your day-to-day operation. If you want a business in the food industry, then you better look for a place where there is a high foot traffic.

Know Your Customers 

After knowing the nature of your business, the next step is to know who your customers are. It is a essential part of the process because this will help you choose the best place where you can operate. To set another example, let’s say you are planning to put up a coffee shop. For you to get a better idea of a good location, narrow down your choices to places with offices, schools, or malls so you can attract professionals and millennials who are likely to buy your products and services.

Philippines or Abroad?

Now, the question is– where do you want it to be? Philippines or abroad? There are a couple of things you need to consider before deciding to start it locally or internationally. First, who will operate the your business? If you are an OFW and you want your family and relatives to manage the business for you, then you can opt to start it in the Philippines so they can fully manage it hand-to-hand. And if you want to manage your own business and watch it as it grows, then I recommend you to start it in the country where you live. This is so you can watch the daily operation of your business. Many OFWs have put up their own shops and restaurants abroad already. This can be your chance to become a rich businessman even when you’re not in the Philippines!

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
For more details and to order my other books: Marvin Germo Book Orders
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