Location is Critical

image of Ireland with various considerations for location superimposed

Every year, over 15,000 Irish businesses close.

Among these, a significant number falter because of a fundamental oversight: inadequate location analysis. The impact of choosing an unsuitable location is vividly illustrated by the recent struggles of renowned food stores and restaurants in Dublin, mirroring the fate of high-profile UK restaurant chains like Jamie’s Italian and Carluccio’s. Experts often pinpoint a hasty expansion into ill-fitting locations as a key factor behind these closures.

For small businesses, the stakes are even higher, a badly chosen location can be difficult to overcome, underscoring the important role of thorough location analysis. The need to analyse location transcends sectors, affecting not just the obvious candidates like restaurants and retail but any business whose success hinges on specific demographic profiles within their catchment area.

The costs of relocating or shutting down can be exorbitant, far outweighing the initial investment in a site and this applies whether opening new outlets or streamlining existing ones. Making informed decisions based on a comprehensive understanding of a location’s demographic and competitive landscape can avert costly errors.

Simple, straightforward considerations can offer substantial insights:

- What is the potential customer base size?

- Is the location accessible through various transport means?

- Do the area's demographics align with your target customer profile?

- How intense is the competition?

- Are there businesses nearby that complement yours?

Securing answers, even partial ones, to these and other relevant questions is preferable to proceeding without any data. This approach doesn’t just mitigate risks; it paves the way for strategic, informed decision-making.

The Smart Location Report is a valuable resource in this context, delivering essential insights affordably and efficiently. It aids in evaluating the potential customer base, current, or competitor locations and property related considerations, with a depth of analysis that supports both short-term decisions and long-term strategies. For businesses navigating Ireland’s dynamic commercial landscape, this report is an incredibly useful addition to current processes.

Take a look at some of the sample reports to get an idea of how you might use the report to your advantage.