Starting a Business – Finding a Business Location
When you are seeking a new location for a brand new start up business or an already-established company, finding the right location is often the key to success, regardless of your industry. Finding the ideal business location for the products and services you have to offer is possible with a bit of research and planning.
We recently wrote a post about Start-up Business Basics. This article will expand on the seventh point in that post: Finding your Business Location.
Consider Your Budget
It is essential to consider the budget you have available whether you plan to rent the business location for your storefront or if you are interested in investing in purchasing an entire building or office space for your company. Outlining potential expenses, renovations, taxes and even monthly bills and fees can help you find a property that is within any spending range you have set for your company’s new investment.
Research Your Demographic
Researching your demographic is necessary to understanding the best locations for your business, whether you are local or if you are operating multiple chains nationally. Understanding the target age, gender and hobbies of the audience you want to reach is a way for you to ensure you find proper placement for your business so that you attract the desired potential customers and clients.
Research Locations Online
Another method of finding the right business location for your company is to do so right from home, online. Looking for business locations online gives you more insight into neighborhoods, nearby competitors and even prices of various properties. Additionally, you may also be able to view both the interior and exterior of the business properties available online.
Compare Nearby Competitors
Compare nearby competitors where you are interested in placing your new business. Comparing nearby competitors is a way for you to gain more insight into the types of pricing in your area as well as the overall clothing or other merchandise that is already being provided to your potential customer. If you find a location with heavy consumer traffic and you are sure you have the ability to outdo your competitors, it may be the right location for you and your business.
Zoning Laws, Requirements and Permits
Check with your city’s local zoning laws, requirements and other permits that may be necessary when you are looking to find the perfect business location for your company or brand. If you cannot get the permits necessary, you will need to find a new spot for your business.
Curb Appeal Matters
The overall curb appeal matters when you are working to attract new potential clients and customers to visit your business or workplace. Ensure the exterior of your business location is appealing with proper landscaping and other relative decorative items that help to represent and promote your brand or company.
Renovations Versus Higher Costs
Whenever you are thinking of investing in a new location for your business, it is also important to consider the option of renovations on a space versus higher costs of purchasing an already complete office space or workplace. If you choose to invest in a business location that requires renovations, it may be possible to reduce the overall expenses of the project by hiring sub-contractors or doing some of the work yourself.
Understanding and implementing the various methods of finding the right business location for your company can make a big difference when it comes to exposure as well as building your brand’s overall popularity and reputation. Identifying the particular needs of your business, will make it easier to find a spot that will be a win – win, for both you and your customers.
Starting a business can be a lot of fun. It can also be a lot of work. At Blue Coast Savings Consultants we offer a turn-key business opportunity much like that of a franchise except that there are no ongoing royalties to be paid and there is a relatively low initial licensing fee.