How To Choose The Right Location For Your Brick-and-Mortar Storefront

As popular as the Internet has become, a brick-and-mortar storefront can still enjoy massive success today. Some products absolutely have to be checked out in person, like spare parts or clothing, to name a few examples.

business owner

Let’s say you’ve decided to open up a storefront – where do you put it? The location has to fit the demographic you’re targeting, as well as have all of the right amenities on site. Certain businesses like car dealerships can get away with being far from their main clientele since it’s rare to buy a new car more than once a year or so. Others like gyms need to make sure they have showers installed or rooms that can be converted to showers relatively easily. As with all things related to real estate, it comes down to location, location, location.

Here’s what to look for in any commercial space:

Don’t go overboard.

After doing a bunch of Internet research, you’ve probably noticed a few laundry lists full of features that you think would help out your business. While some of them are essential, don’t get ahead of yourself in deciding what a dealbreaker is and what isn’t. Create a list of must-have features, and then a list of would-be-nice-to-have features. This way, you can immediately eliminate any options that don’t fit your must-haves, without having to carefully weigh everything included bit by bit. Once you’ve actually narrowed down your choices, you can start comparing extras.

Consider zoning and tax regulations.

The tax regulations for businesses operating in certain zones vary from municipality to municipality. Make sure to ask your commercial real estate agent what you’re getting yourself into by choosing a specific space. Everything, from garbage collection fees to a rough utility bill, and even how labor-intensive it would be to install a Wi-Fi connection, can be quickly given to you by a competent agent. What was previously your dream property might end up as a massive burden if you aren’t careful of tax regulations.

Tailor to your customer’s tastes, not your own.

Of course, as the boss, you get the final say on all major decisions, but when it comes to picking your location, you should try to look from the perspective of a customer. For instance, a trendy boutique would do well in a place like the Eastgate Metroplex compared to near the industrial zone. Carefully consider the shopping habits of your clients, and figure out what the most tactically sound placement of your business would be. Consider where the competition is and what works for them, as well as look for any place in town that might be underserved by your particular industry.

Conclusion

Actually finding a place to set up a shop is a massive hurdle to overcome as a business owner in and of itself, not to mention the fact that this placement will affect your business for the duration of its time there. Whatever you settle on, there should be no doubt in your mind or stones left unturned before you start signing the dotted line. Best of luck to any brave entrepreneurs out there!

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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