The most important factor to consider when starting to build a business is the target audience. You have to think of who would you want to cater to. Who are the communities that you may profit off of. Like for example if there is a school near you, you should know that students would be your target audience. You should start a business where students can buy materials from or a place they can study or even hang out around. I believe that if you studied your target audience, the first step of your business is already successful enough.
The most important thing to start up your business is to study the area, is not must to be where student stay just make sure you sell what the community you are interested in getting the business need what you are willing to sell, just make sure what you are trying to sell is something they need in that area I believe that is even enough to say that your business will move well. Choosing if location is very important.