The opening times (sometimes also called operating hours) dictate the times during which a booking can start or end.
Those opening times don't have to reflect your actual business hours, in which a person is physically present.
To adjust the operating hours of your location you first need to go to the location settings and then click on the edit button (pencil icon) of the location.
There you will fend the box "Opening times":
Here you can set individual times for each day.
So if for example you want both pick up and drop-off to fall within a timeframe between 09:00 and 18:00 on Monday - Friday and have the Sunday closed (as in no pickups or drop-offs), you can set it up like in the example above.
If the times in which you want to allow pickups differ from the times in which you want to allow drop-offs, you have to uncheck the checkbox "Same for pick-up and return".
With the box unchecked, you will have 2 sets of days, one for pickup and drop-off.
Important note:
Only the times set up here will be bookable for that location.
If you have an item in this location, which is set to allow times outside of those in the location, then the location will always win.
Exceptions:
If at some point your opening times should change, for example because of holidays where you are closed, or seasonal changes, you can do that with exceptions.
For that scroll down in the opening times and and click on "Add new exception".
You will then get a new set of days, which can be set up the same way as the initial one. So you can also separate between pickup and drop-off times and can set up multiple time slots for each day.
It's important to always give your exceptions a name and a time frame.
If an exception has no time frame, it will always apply and effectively overwrite your base setting.
To create an exception, for certain days, which are closed you have to select those date ranges (or individual days) and chose the template type "closed":
To reflect seasonal changes in your opening times, you have to define the date ranges and then define each day, just like you did above.
Beware:
You should at all costs avoid a situation, where two exceptions have the same or overlapping date ranges.
If two or more exceptions try to target the same date, you may run into conflicts and unexpected results.
You should always make sure that exceptions are mutually exclusive.