My sister once owned the citywide franchise rights to a well-known cosmetics chain. And she had big plans for it. Now, this store was a natural for malls. It was well-known, sold products that you couldn't find in any other mall store, and best of all, fit right in with the type of shoppers who frequented the mall. So of course, store number one went into the best mall in town, and did gangbusters.

When it came time to expand, she decided to invest in a beautiful storefront in a popular tourist area. Like the mall, there was plenty of foot traffic. Like the mall, she had a unique product offering. Unlike the mall, the people who passed by (out-of -town tourists) had no interest in shopping for cosmetics. Oops.

The second location did so poorly, it killed both stores. And my sister was forced to get out of the business.

Location really is everything. And while a bad location can ruin a business, the right location can be a major marketing advantage.

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