3 Things To Consider When Choosing Your Business Location

business locationYou’ve probably heard that location is key to the success of a business. Well, that’s a factual statement. Location is one of the most important things to think about before setting up shop, and here are three crucial aspects to think about if you want a suitable spot for yourself and your customers.

 

1. Building Has Easy Access

Many business owners and customers will agree that easy access is the number one priority for a physical location. What does easy access really mean? First of all, a business should be situated in a spot that is commonly visited by people who live in the surrounding area. Ideally, the chosen building would be on a busy street in a city center, in popular strip mall, or at another “hot” location. By opening your business where the population is dense and the traffic is heavy, you’ll highly increase your chances of having a curious individual walk in through the front door.

Easy access also refers to picking a location that can be easily spotted in plain view from a major road or other high-traffic area. You don’t want your gorgeous restaurant or art gallery to be obstructed by large trees, tall structures, other buildings, or awkward storefront placement. People shouldn’t have to run circles around a block before catching sight of your hidden facility.

Last but not least, easy access means that it shouldn’t take a lot of effort for customers to enter and exit your store. Ideally, the place would have adequate parking, be open for at least five hours out of the day, and sit on flat ground and not at the top of a hilly or narrow street.

 

2. Facility is Adequate for Your Business Needs

You might’ve discovered the most amazing location ever, but that would do you no good if the facility was unable to support the activities of your business or accommodate the needs of your customers. There are a number of things that might force you to scratch the option off your list including: improper size, nonfunctional or poorly maintained HVAC systems, presence of health hazards like asbestos or black mold, and more. Check in with a company specialized on these services to get a grasp of what you should be looking for. Upgrading the building is possible in most circumstances, but the expenses could be far out of your budget. Even if you had the money to upgrade the HVAC systems or expand the space by adding to it, it might not be worth investing in the place if there are multiple big problems.

 

3. Business Is Located in a Safe Area

Being a good business owner means creating a comfortable environment for your customers to shop in, but they can never feel that way if it’s situated in a notoriously dangerous area. The two major factors that determine whether an area is safe are its immediate surroundings and the people who frequent the area. If your shop sits on a beach that’s always bombarded by violent waves, it’s not very safe. If your shop sits on the corner or a street known for drug dealing and drive-by shootings, it’s not very safe. You get the idea. If you can’t avoid a naturally hazardous or high-crime area, ensure that your business is protected by investing in: security cameras and systems, heavy-duty locks and shutters, impact-resistant glass, an emergency escape plan, or even a legal firearm or other weapon.

Setting up shop in a prime location will greatly increase the odds of your physical business’ success. However, some successful businesses are located in odd, hard-to-reach places–but they’re usually already well established. Those kinds of places either developed such a serious reputation that people are willing to endure the trek to get there or have such a loyal fan-base that they can stay open with just a handful of regulars. For a new business owner, none of that applies.

What else should you consider when choosing a business location?

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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