When you are starting your business, you need to put together a plan. This plan is going to detail exactly what you want and what you expect from your business in the future. You’ll choose the type of business you’ll open and one of the decisions that you have to make is where you plan to locate your business. It’s nice to have an idea of what you want, but it’s not enough. You need to know exactly what you want to achieve from your business location.
Location is everything for some businesses. The postal district you are in can directly affect how much business you get, what rent you pay and what profit you make. It can make the difference between knowing your customers can get to you, and having enough space for pallet shipping if you need it, too. Warehouse locations are hard to come by, but if your business is leaning in this direction, you need to consider a few things when picking your location.
1. The first thing to consider are your rental terms and your budget. Running a business is not cheap, and if you need a specific type of premises, you need to know what the budget is for that. You have to consider the zoning laws, as the perfect location is somewhere you can legally operate your business. If you want to be close to the city centre, you have to consider that the rent is going to be much higher than on the outskirts. You need to do some proper research on the appropriate premises for your industry and what you want from your business.
2. Get out there and look for the premises that you need for your business. If you know what location you want, you need to go and find it! Check out the rental listings online, then go and visit a few places to know what will suit your business exactly. You can speak to those at your local Chamber of Commerce, walk the neighbourhood in which you are interested and generally keep an ear on the ground for any information on good locations for your business.
3. You have to be where your customers are going to be. You can’t locate a business outside of the space your customers are, as they won’t be able to reach you. No customers, no business – right? You need to work out where your audience is and then check that against the listings to business premises. Once you do that, you can see what’s available to you!
4. A primary location where your clients can reach you is a must for your business and you have to consider market research. Ask your existing clients what matters for them, and then collate the information for future reference. Location is important, let’s all remember that!
5. Lastly, think about YOU. What do you want for your business? What do you want to achieve with your location? These are questions you have to answer, and you can find business premises to match your own expectations.