There are several tools available for choosing a business location, depending on the nature and size of the business. For instance, startups have limited options and capital, and hence should choose a location that they are familiar with to start with. But a business location is one of the most key decisions in running a business, and should be taken by considering multiple factors such as maximum exposure to the required target audience, lowest penetration of competitors, stable political environment, ease of doing business, availability of resources, and so on. PESTLE analysis and Porter’s 5 forces are some good tools one can use.