Starting a Business From the Ground Up – Location Selection
Location is very important for every business. When starting a business from the ground up you should operate from home or other locations available for free. However if your customers will visit you it is important to select a great business location.
Select the correct neighborhood for your business
Form research and selling activates you already know who are your customers. People want to be safe and have good shopping experience. For example: if you are selling expensive items the business has to be located in a place where customers will feel comfortable to come. It makes a difference if most visitors are female or male. In general males have higher tolerance to places that are not in their prime. However, everybody appreciates a nice place. Before deciding to establish your shop somewhere, investigate the community.
Learn what is the traffic and accessibility
All businesses need to be visible so customers can easily find it. Busy street traffic and high visibility location are very important to retail and eating-places. They will benefit from the exposure to as many eyes as possible passing by every day. Easy parking and quick access are important factors for any business. Other factors to consider are amount of foot traffic, automobile traffic, assessable sidewalk and convenient delivery access. Most commercial real estate offices will have traffic information.
Examine building condition
Renting space is a long-term commitment. You should have many questions before deciding to move in. Find out how old is the building. When it was repaired for last time? How old is the plumbing, the roof and the heater? When the air conditioner was serviced for the last time?
Find out where is the closest competitor
Before you move in you should know where the competitors are located and how they look like. Many landlords will not permit directly competing businesses on their property. But, there are a number of different landlords who are not particularly selective. Having many similar businesses close to each other is not necessarily a bad think. More customers who are looking for the same thing will have more choice. You can shine as new business in this environment.