If the text is readable, it will count towards the ranking and the results of search engines, a lot of companies, even eBay and others make use of this type of thing.

The trick is to make sure it looks professional, as often times I see useless text at the bottom of pages/side bars of pages that do nothing but turn me away from the site, keep it looking good, keep it visible and you will be ok.

Remember Google can tell where on the page the content is located, so while it helps in terms of getting more content the value that is given to the content might not be the same if ti was higher in the source code.

And make sure it is valuable text rather than just a monotonous repetition of all the keyword variations available to you. It should also not be paragraphs as such, but one or two is fine, especially if it is geolocators or similar.

You can use footer part to add the text as you wants. It should not be any problem. Make most of your site in right direction.

If you are adding the text to the footer only for better SEO score, I would recommend that you should add content within the main body of the page, that will be the most helpful.

I agree with AnkitMaheshwari. You have to think of the users that come to the site, not just about where you rank. Putting the content in the main site would be a lot better,

Footer text is generally site specific info, not more advertising/keywords. Small print is generally ignored by visitors...and PROBABLY by google as well.