We consider a bi-objective model for uncapacitated facility location where one objective is to maximize the net profit and the other to maximize the profitability of the investment. We first characterize the structure of the model having both a linear and a fractional objective function. In order to generate efficient solutions for the model, we develop a heuristic procedure which has computational advantages over existing methods. A numerical example is presented to illustrate the solution process and computational tests on large scale problems are also provided. (C) 1997 Elsevier Science B.V.