How to choose the right location for your business?
I would like to start with congratulation! If you are at the point where your are looking for an emplacement for your new business it essentially means that the business is going well right now.
If you haven’t started yet, I would suggest this article How to save money when starting your own business as starting with a monthly rent is quite a commitment. However, you know yourself your business and what you need so if that is the steps you are at, let’s dive into it.
If it feels like it is a big deal to choose a location, it’s because it is. This is where for the next few years your employees and your main client base will get to know you. It is the area where they will come every day and feel your brand and vibe of what you are offering. This is why it is important to not only looking at the office and the cost when picking a space but also the environment surrounding you.
Here Are Some Questions You Should Ask Yourself To Find The Best Location For Your Brand:
WHAT IS MY TARGET AUDIENCE?
You need to be in an area where they will go or see. If your target is moms with kids, being in a children’s playground might not be the best idea as they are there for their kids not to do business with you. However if you are looking at corporate people, being near by their office would probably be better. This way they can come to you before or after work without having to drive too far.
HOW MUCH SPACE DO I REALLY NEED?
You might think that you need a big open space but actually what most businesses needs is quite a small space per employee. You will also have common areas such as the kitchen, the restrooms, maybe a lounge area and of course storage. If you have a physical product you will need to store it somewhere and most likely in the office which means you will need to factor that in your square footage.
WHAT IS THE COMPETITION AROUND ME?
You might think that being next to your main competitor is not ideal but actually it can be quite good. It shows that this is a good location for this type of business and also people who are looking for what you are offering might go to your competitor first but if they see you right next to them they might come to you instead.
HOW IS THE PARKING SITUATION?
If people need to come to your office to pick up a product or to drop off something, you will want to make sure that they can park easily and not get a ticket. If they need to park far away or in a paid parking they might not come as often.
IS THE AREA SAFE?
You don’t want your employees or clients to feel unsafe when coming to your office. Check out the crime rate of the area and maybe even talk to some of the business owners around to get their opinion on it.
There are many other factors you need to consider but those are some of the main ones. It is important that you visit the area at different time of days and weekdays/weekend to see what it is like. You might love an area during the day but if it is completely dead at night, you might want to rethink your decision.
CONCLUSION
Like for everything else, the key is patience, do not choose an office space in a rush, make sure that it is a great fit for you and your clientele. I wish you the best of luck in finding the perfect location for your business! If you have any questions, feel free to reach out to me.
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