Is there a competitive advantage in starting a business in a location that you have stayed for a very long time?

[Min George]

Let's say that you have stayed in a particular area for up to ten years. And you want to start a business in that area. There is demand for that product there. Do you think a person that has stayed in a place for so long a time would have a competitive advantage starting a business in that location?

 

[Fidelia]

The person that has lived for a long time should understand the local populace and their demands for the kind of business they perfectly well to serve them well.

 

[eLdavis]

The major advantage here is that people already know you, hence it is a lot easier to gain their trust.

 

[Suba]

If you start a business where you've lived for more than 10 years, you have several advantages, such as better understanding of demographics and customer preferences, a deeper understanding of the market, a stronger network with family and friends, and a better understanding of customers.

 

[Augusta]

Yes as you have already been there and you have your customers already so they would till he ready to patronised you even with new people around

 

[bestwriter]

Let's say that you have stayed in a particular area for up to ten years. And you want to start a business in that area. There is demand for that product there. Do you think a person that has stayed in a place for so long a time would have a competitive advantage starting a business in that location?

If it is off line business I suppose there is ample advantage as one knows the feel of the place better than those that are new to the place. But if it is online it makes no difference

 

[Trush Jodie]

When you start a business in a location that you are well known, you already have close affiliates that would naturally patronize you.

 

[Augusta]

Businesses can leverage this understanding to create a more effective and personalized offering, leading to increased customer satisfaction and loyalty.