Business owners in general avoid locations where there are competitive businesses, wrongfully assuming that the more similar businesses there are in the area the fewer clients/customers there will be for them. And naturally, fewer clients or customers translates more often than not into lower profits.
But even though this conviction may make sense at a first glance, it’s not entirely true. On the contrary, it has been proven that having competitors nearby can actually be beneficial and help your business grow.
Here are a few examples how you can benefit from choosing a business location within a short distance of your ‘business rivals’:
Attract more clients/customers
Areas with high concentration of similar businesses within a short distance from one another often tend to be associated with those particular businesses.…Continue reading