It's natural that most of the questions you will ask yourself about business location will be based on dollars-and-cents considerations. But part of the lure of business ownership is the ability to control not only how much you make, but how you make it.
If you are like most small business owners, you can expect to spend a large chunk of your waking hours at your business facility. Quality of life issues are as relevant to the facility choice as you wish to make them.
If you have a choice of locating the facility in several different locations, which of them would you rather spend that much time in? Do you value being able to go to cultural events (or to that restaurant that serves Chicago-style pizza!) in the city or neighborhood on your lunch break, or do you crave the fresh air of a country setting? How long are the commuting times between your home and the various choices? If one facility is in a place where you really don't want to be, but it appears to be the best choice from the point of view of business efficiency and profitability, would you be prepared to sacrifice some profit to obtain your desired business lifestyle? If so, how much?