Choosing a business location is perhaps the most important decision a small business owner or startup will make, so it requires precise planning and research.
Determine Your Needs
Most businesses choose a location that provides exposure to customers. Additionally, there are less obvious factors and needs to consider, for example:
- Brand Image – Is the location consistent with the image you want to maintain?
- Competition – Are the businesses around you complementary or competing?
- Local Demographics -
- Is your potential customer nearby?
- Are the demographics changing?
- Labor Market –
- Does the area have potential employees?
- What will their commute be like?
- Plan for Future Growth –
- Will you have room to add onto the current building?
- What about additional parking?
- Proximity to Suppliers –
- Can your supply chain find you?
- Do you have the access they need?
- Safety – Consider the crime rate. Will customers and employees feel safe alone in the building or walking to their vehicles?
- Budget - Research your property taxes, insurance and any potential fees (impact, mobility, zoning, permitting).
You can enter a property address, owner name, or even the property identification number to search, as well as zoom and pan around the map until you find what you are looking for under the search tab.
Next, make sure that your location has the appropriate zoning and future land use for the type of business you have.
For making a new building, take a look at our site development page.