When I was involved in commercial real estate, the old axiom of "Location, Location, Location" became more than just a repetitive word to help stress the CRITICAL IMPORTANCE of location.
The first Location was to determine your DEMOGRAPHIC AREA. Mc'Donalds draws from a 2 block area (crowded cities) to a 4(+-) mile area. Bass Pro might draw from a 100 mile area or more. It varies from business to business. In the case of choosing a home base, you will probably want to invert the ratio, with the FEWEST people around or perhaps the greatest number of the right kind of people.
The second Location was VISIBILTY. In business you wanted the greatest number of potential customers to be able to see you. If they could not, you had to make up for this with advertising. Again, with a home base, you would probably want to invert this, with the greatest number of people who CANNOT see you.
The third location was ACCESS. If you had customers in the area (1) and they could see you (2) they then had to be able to quickly and easily Access your sight. Things such as medians, no off ramp etc. could work against you. A home site may again want the opposite of easy access.
Just thought I would pass this along, whether you are going into business or locating a Gulch.
Also, know which side of the road to put a doughnut shop or a liquor store. Answer; the easy (usually right side in US) side of the road to get off and back on. But the critical difference in the two is a doughnut shop should be locate on the "going to work" side of the road and a liquor store on the "going home side" of the road. People most often buy doughnuts in the morning and liquor in the evening. Not sure how this relates to choosing a gulch site but thought I would throw it in. You cannot imagine how many business I have seen fail because they ignored this one simple rule. A traffic count with time/direction flow is essential BEFORE locating a store.