Does Location Matter ?

You've heard from those real estate gurus, "location location location".

I'm contemplating this thought as it might pertain to photography.  Would you agree or disagree ?
No I don't mean that for a general photographer who shoots anything and everything, I mean for those of us who are concentrating on shooting for businesses. Would you agree that it would be pertinent and in fact vital for success to set up shop where the majority of businesses whom might need a photographer ?

If you were selling ice cream, it probably would be more beneficial to set up shop near a tropical beach resort, rather than a ski hill. Right ?  It kind of goes without saying. You've got to be where your customers expect to find you. I still believe that it is easier to solve a problem that already exists than to make something for an unknown buyer.
Taking away a pain either for a business or a person, will always prove more prosperous.

Living here in Peterborough still gives me room for thought about wether staying in such an obvious suburban community is a good choice for a small business such as mine. Sure, I'm just 90 mins from the GTA and could certainly take on jobs there. But the fact remains that I am somewhat removed from where a much larger market exists. On the other hand, I'm also somewhat removed from a significant level of competition. Here in Peterborough, there are a handful of photographers to be sure. However the majority, I would say 9 out of 10, are not concentrating their efforts on the business clients. They shoot pictures of kids, families, parties, dance recitals, weddings etc. That's not for me.

Giving it more thought.
Taking my time. No rush.
We'll see where my instinct takes me in the coming months. 
Meanwhile, for those who need product, processes and people doing their thing. I'm your man 'round these parts.