Choosing a Location for a Small Business

made your business plan and find financing for your small business you have to pick a location for your business. Of course you could work from home but not all businesses are suitable for this. Choosing a location for a small business is very important and you have think about the following things if you choose a location: marketing, financial, technology and location. You have to be sure to plan carefully where you want the location of your business to be.

You must ask yourself the following questions about the area, when selecting a location for your business:

  • Is there competition in the area?
  • How strong is the competition?
  • Is the area located near potential customers?
  • Can I find employees in the area?
  • Is there parking space in the area?
  • Is it easy to find and accessible?
  • Near public transportation?
  • What is the business climate in the area?
  • Is the area upcoming or declining?
  • What is the rent?
  • Does the city/town provide some service?
  • Any zoning regulations or restrictions for your type of business?
  • Is the area safe?
  • Any useful conveniences in the area for yourself and your staff? (Market, cleaners, restaurants, etc.)
  • Are there support services nearby? (suppliers, distribution centres, printers, etc.)

After you have narrowed down the area, evaluate the location of potential properties:

  • What is the rent and is it affordable?
  • Is there enough space? (Also for expansion?)
  • Is there enough parking for employees and customers?
  • Do I need to pay for extra parking?
  • Are there building or health codes for your type of business?
  • Is there storage available?
  • Is it allowed to put your business name on the building?
  • Will people be able to find the business easily?
  • Does the building have adequate wiring? (light sockets, voice and data communications.)
  • Does the building have adequate heating and air conditioning?
  • Is garbage collected each week and is there a location (out of sight) to put it in the mean time?
  • Is there room for a small kitchen for the employees to make coffee or eat lunch?

And this are just a few questions, I bet you can think of some more. As you can see it are a lot of questions to remember for one person, so find someone that can help you. Of course hiring a professional Realtor is always smart. Make a list with all your questions with you when you going on location hunting and answer every question. This way you can make balanced decision afterwards with the help of the filled in lists.

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