Choosing a new business location

Five Things To Consider When Choosing A New Business Location

Five Things To Consider When Choosing A New Business Location

There is something so important about choosing a new business location when you are expanding your business. You have to consider where you want your business to be, how you want your business to look and how you want people to perceive your space. It’s all about location when it comes to making the big decisions. You could have the very best product in the world, but if your location isn't great, there is no point in trying. 

It’s vital that you make the most of your money, and that means knowing how to choose the right space for your business to thrive. You want somewhere with a good area code but more than that, you need to think about the most crucial factors that occur when choosing the right location. Below, we have all the information that you need to ensure that you make the right decision for the location of your business.

  1. How close are you to your customers? Your location needs to be a decent distance to your customers, else how will they find you? You need to ensure that whoever your consumer is, you are close enough that they can get to you. If you offer online services, try to be in the same timezone as your target.
  2. Know the price. The rent can really cripple a business, so make sure that you are able to afford the rent that you choose. You need resources for an expensive rent and all expenses should be calculated from the start so that you’re not left worrying about making ends meet.
  3. Think about the outside. When was the last time the office/retail space you’re looking at had pavement surface treatment? You have to think about things like this as appearances of your business really do matter. Looks count for that all important first impression.
  4. Infrastructure. Good infrastructure matters if you want people to be able to reach your business. Power and water supplies count and you need to be close enough to a main road for supplies to get to you. It’s worth considering parking, too, especially if you know people will be coming and going.
  5. Distribution. If you are planning on making deliveries in your business you need to know you have the right location to make this happen. You also may need warehousing capabilities and more to ensure that you can distribute to your consumers properly.

Your location for your business is going to matter to everyone, from your customers to your employees. If you are too far away, your business is less likely to succeed. Too close, and you may end up paying a really high rent for your business premises. Think about location when you think about what you want for your business future. Don't be afraid to consider how you want people to perceive you, too, as this will impact that first impression we mentioned earlier. Take your time to shop around, though, as you want to get this right!

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Dave Gardner

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