Every first year retail management student learns quickly the mantra of doing well in business: “Location, location, location”. Get the location right and you could start measuring your yard for that swimming pool.
And in Trinidad people often observe a series of businesses that go bust from the same location and conclude that the spot “is blight, nothing ever makes there.” But is it really a case of a blighted location? Or is location selection getting the rap for other business flaws – Like crappy service or poor product quality or prices too high or too low.
I think location is a key factor, however, it’s only part of the story. I used to be involved in a Roti Shop that was 2 doors down from a KFC in St James that failed. You would think that two doors down from a KFC would be a sure bet. The problem was not the location, the problem was that us owners were absentee restaurant operators and we did not have a consistent product. Absentee business owners in a new business lead to absentee sales. If Patraj came to that same spot it would make a killing. Location is crucial but it’s only part of the story.
