"Where you stand, defines your success quotient"
According to the article published on OECD Better Life Index website, The United Kingdom, set amid the paradoxical Brexit, has an oasis for the businesses to dive into and succeed. Although few elements might seem golden to investors and business operators, few factors hold the barons back before grounding on a final decision.
An indispensable factor is the location. A factor that is crucial to the retailers to foresee a profitable site, real estate tycoons to make informed decisions before choosing a space for commercial activities, and franchises to expand the network of stores into profit-generating and customer rich neighbourhoods.
Is location deeply looked upon by executives? Does it make a difference? Is it unwise to ignore Location Intelligence when making informed business decisions? On an intriguing note, yes. Location Intelligence strikes a chord and makes a difference in a myriad of business aspects within the retail, real estate, and franchising sectors.
What goes into ignoring location components in my business?
In retail, the difference between choosing a good location and bad site makes the difference between success and failure. In real estate, an improper demographic check decimates a fine business plan for a commercial activity. On setting up a franchise, on an erroneous site, one unknowingly dims the store's visibility to the potential customers leading to a decline in company's profit truck. The lack of knowledge in Location Intelligence is not a mere flaw, but a humongous defect that blemishes the dream of a company.
What could be the possible head-turning solutions to all the difficulties?
It might be interesting for a multinational company to pump more efforts in choosing the right product for its novice customers at an alienated location. But if the location decision goes wrong, every aspect following will be ineffective. Apparently, by finding the location that meets your target customer profile, identifying the surrounding stores and the art of your competitor's business and conducting an analysis before network optimisation, you can accumulate the confidence to choose the best profitable location for your business.
How do I arrive at the possible solutions?
The process boils down to components such as demographics, territory-specific information, visualisation of unique insights, from which you can extract a snippet of information to analyse, study and decide your next booming location.
Data, statistics. Now that’s a perplexing task.
Let me introduce you to Geoblink. Well, that’s saving the best for the last.
Geoblink, a SaaS based geospatial company, a resident of Bloomberg's top 50 startups worldwide, masters in Location Intelligence, provides pragmatic solutions for businesses to maximise profits and optimise networks at catchment areas and supports executives, franchises, to choose between Cambridge, Oxford, and other bountiful locations. Geoblink helps its clients not only with location identification but also with powerful demographics the businesses can cling to, for a fruitful market image.
Locate success with Geoblink
The UK’s GDP grew by 0.7% in the fourth quarter of 2016, according to the data confirmed by the Office for National Statistics (ONS). The service industries are growing stronger ever since the financial crisis struck the royal land. The preceding facts depict the availability of abundant pastures new for the businesses to exploit and profit. Incorporating Geoblink's sought-after application into the decision-making process, businesses can effectively make informed location decisions and bag the armour for future drawbacks in a matter of few seconds.
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