As per my own observation, the type of business, location, those target audience, while they can be important to consider in building a business, but the most crucial thing to consider first is that if you have a sufficient amount of capital that you will use to make your business comes into possibility.
Money is the most essential thing, that’s why those who don’t have enough amount of funds have been delaying their business, while those who have prepared good amount can easily start setting up their business.
Of all the factors that you highlighted the most important one to me is the target audience because before a business is set up what you produce and who you are producing it for is very important am talking about the target market you have to know the type of market that you are producing for.
This will help you to know what to produce how to produce so that you can have a customer base that will be easily accessible, understanding the market you are trying to produce for us key for the success of any business