Finding the right location for your company can make a drastic difference in your sales, visibility, and the overall success of your business. It is important to search around for the right location in order to maximize your potential success. Correct planning and research may help you find the right location in order to grow your company.
Understanding Your Business Needs
One of the key elements in finding a location is understanding your business needs as far as space is concerned. While you want to find a location that provides exposure to your customers, there are other factors to consider which have a great impact on your sales. Are you setting up shop too close to your competitors? Is your business in an easy to access area for your suppliers? Does the area have a large pool of potential employees? Are you selecting a location that is safe for your employees and customers? Does your company have specific zoning requirements it must meet to comply with city ordinances? Is there enough parking available, can your customers easily find you? These are just a few of the questions you should ask yourself and your Realtor while exploring potential locations.
Learning About What the Customer Needs
A business needs to understand their customers before they choose to set up shop if they want to be successful. If you run a day-care center, you will want to find a location near younger families rather than nearby a retirement center. It is important to know what your customers need and expect, and where to be located in order to address those needs.
A major element in selecting a location will come down to your financial needs. Can you afford a large or small office location? Knowing what you can afford and what type of space you require is vital to becoming successful. There are additional hidden costs you must consider as you evaluate where you want to establish your new business. Will you have money to pay for upgrades? Can you afford the sales tax rates? Every company will have different financial obligations, but your location may impact how high these operating costs are.
Compare different locations you are interested in and determine how visible they are to potential customers. Are the customers able to clearly see your store, and know what products or services you offer when they are driving by? Is your storefront easy to recognize? You should focus on making it easy for the customers to find and access your business in order to become successful as you can. Visibility is a key component, and often the first step towards effective marketing.
As you scout different locations for your company, always consider the area and if they are friendly to businesses. Some neighborhoods are strict about residential and commercial zoning. Some have limits on the type of businesses allowed within city limits. Look for a town that values your particular businesses and will welcome its addition to the community. Talk to other owners, co-tenants, and potential customers nearby to find out if they like the idea of your company, and if they would support you. Finding the right location to run your business will make you more successful in the long-run.
This article was written by Richard Craft, an MBA student who hopes to help you with your business. He writes this on behalf of Saxe McQuain, your number one choice when looking for professional Houston commercial real estate brokers. Check out their website today and see how they can help you!