LOCATION, LOCATION, LOCATION… Such a Critical Factor in Retail It is very common to hear in the US the 3 most important factors for business success are 1) location, 2) location, and 3) location. This is a definite indication of the importance of how location impacts the potential of your business to succeed. Any wonderful business initiative, inadequately located, will struggle, to say the
F ranchises play an important role in the American economy. According to the International Franchise Association1, there are over 760 thousand franchised businesses in the United States by January of 2018, as seen in the attached graph. Since the US economy recovered from the 2008 recession, the number of locations has grown steadily, with a total of 9% between Jan. 2013 and Jan. 2018;
The reality is that the world is a very diverse place. Every group, society, culture, has needs, likes, preferences and different customs. This holds true when talking about such a diverse society like the American one. Another reality is that for a product to be successful, it must address or lessen a problem, or attend to a need that is not well attended by