Do i need location based advertising for my newly established business?

Hi members
I am investing in a business and feeling very conscious whether to go for it or not. Actually i have run this business from scratch and its branding is totally zero. One of my friend suggested me that i should increase my business popularity by using location based advertising.
I am now working on it as it seems quite sensible to adopt this type of advertising strategy. Friends whats your opinion on this? and what method of advertising you will prefer?