If you can pick the right location you are more than half way there – to having a successful business. Because no matter how good your product is, you can’t sell it if you don’t get your customer in the door. And you don’t just go eene. meeny, miny, mo – it takes research and planning.
Before choosing a location for your business here are a few things that might help you in your decision.
Before you choose a location for your business…
Know your customer
Once you have determined who your customer is get as close as possible where they live and work. Make it convenient for them to find you , and visit you over and over again.
Know your competition
Examine who else is in the area and decide if they will help you or hurt you. As surprising as it may sound doing business as close to your largest competitor as possible will mean that you can benefit from their marketing efforts
Know the neighborhood
Determine the demographic make-up of the area, including age, income, and size of household. Map out both the road and foot traffic that will lead the customers to your doorway. Make sure there is plenty of parking. Envision your signage and what else you can do at that location to achieve the most curbside appeal.
Know your image
Make sure the location is consistent with the image you are trying to project.
Know your future
If possible look for a building that can grow with you, where expansion is an option.
Know your budget
While you want the best location possible, you don’t want to start a business with a long lease that is not feasible for a new business.
The bottom line is do your research, get opinions and advice, and talk to the other business owners in the area.