Location, Location, Location
Deciding where you lay your brief case is a tough decision to make. Where can your business find the best opportunities? If you're foot loose and fancy free you may be able to pick up and go wherever you expect to find that pot of gold. If so, do your homework. Check out the market data available on many commercial real estate web sites. Go to the U.S. Census Bureau and see which areas have the most growth and the highest numbers of your target audience.
If you're staying right where you are, you still need to do your homework when it comes to locating your business. Where are your customers? That is probably your biggest challenge. If they come to you then you've got to be in a convenient location. If you go to them then consider what is convenient to you and your employees. A lot of the decision is made by the type of business you are in. Here are some other location issues to consider:
- Where is your competition? Does it matter? Maybe, maybe not.
- Will you be able to find good employees nearby? Convenience of location is important to them too.
- Is the building you are considering in an area that is growing?
- Are the surrounding buildings in good shape and attractive?
- Is it a safe area?
- Is there sufficient free parking or will you have to pay to rent spaces for your employees?
- Are there zoning restrictions that might have an affect on what you can do with your business?
- Is the building you are considering renting at the going rate?
- Will you have convenient access to the suppliers and other vendors your business will need?
- Is it the area accessible by public transportation?
- Are there restaurants and other services nearby for you and your staff?