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 business you want to run means following the needs of the audience in that location, not finding an audience that needs your business, which you already like and are interested in. So, if you're looking for what the audience in that location needs, you have to find a business that doesn't already exist there and that they're interested in. Because there are certainly many businesses in that location that the audience needs, and it's difficult to find one that doesn't already exist, which means you have to create a business that is similar to the existing ones and be ready to compete. So what you mentioned is good, but it's not as easy as you might think in this day and age. You have to be willing to innovate, compete, offer lower prices, and maintain good quality and hospitality for your business to run well.