subject: How To Choose The Best Location For Your Small Business [print this page] Of course, when you open a new store, location is one of the most crucial factors that you have to consider if you want to be successful in your new business. Location, location thats what real estate agents would tell you. Location is a prime factor that makes for a good sale.
From how to secure funding for your new business, to having the best marketing campaign collaterals produced by either an online printing or traditional printing company, and even to the staff whos going to help you jumpstart your business, location for your small business is one of the most important decisions youre ever going to make. Choosing the right location can make or break your new small business.
For bricks-and-mortar shops and small businesses, location is important because it is where your target clients and customers will come to you for their needs. It is where you are going to conduct your business and make your living. Hence, you should choose the site of your shop carefully. It is critical to show your target clients a location that is conducive to comfortable and convenient business transactions.
But what type of space do you need, you might ask. It all depends on the kind of business you have, as well as what you are offering your target clients. It may be an office space, a retail shop, a boutique, or a warehouse your type of business and purpose would determine the kind of space you need to open your business to your prospective clients.
Here are more factors you need to consider when looking for the location of your small business.
First of all, consider the zoning regulations of the location of your choice. Before you even set up your store, you have to ensure that the area is zoned for your particular business. There are zoning regulations that you need to comply with if you want to have an easier time securing the location you want. Go to the planning department of the local community and check whether your property is zoned to your type of business. It is extremely difficult to change zoning regulations on a property so make sure you have cleared this part before you even start signing the contract for your lease.
Second, consider the tax laws you are going to comply with in your area and compare it with the other states. This is another one of those factors you need to determine before you start setting up your company in any location. Assess and check based on the taxes in that particular area whether it would be advantageous for you to set up shop there or to just opt for another place.
Knowing the tax laws in different states and cities is crucial before you start setting up your business in a particular area because the tax rates differ from one area to the next. If you can shop around, you can find for your business a good area that would give you low tax rates and higher profits as well.
Next, consider the traffic and transportation. Would it be easy for your target clients and customers to visit your shop on a regular basis? Because if it is not, then dont expect to have regular visits from your customers, unless they are very loyal to you. It takes a very strong loyalty to make your customers brave the traffic and transportation issues and go to your shop for their needs.
Then, consider your neighborhood. When you think about the location of your shop, think about where your target market would be more likely to be staying. Where do they live? Where do they get their groceries? Where do they usually go when theyre not working? These are some of the things you need to know so you can ensconce yourself in an area where your target clients are.
Finally, think about your budget. Of course, if you cant afford Manhattan or Rodeo Drive, why even bother to check these locations? The hard truth is that you cant always have what you want. You cant set up shop where you want if you dont have the budget for that particular location. The bottom line to get the best location for your small business is to check how much you can afford to pay for rent and still have profits after. Compare and contrast locations to ensure that you get what you need a place where your business can thrive for a long time.
by: Robert Johnston
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