How to Find Your Perfect Business Location

Finding the right business location can mean the difference between struggling and success. Of course, when it comes to starting and growing a business, success sounds a whole lot better, right?  Let’s take a look at ten questions you need to ask to find your perfect business location.

1. Can you afford the lease? Does it meet your budget? Of course, leases are negotiable. However, it’s important to start on the right foot and that means making sure your lease meets your financial needs. Additionally, some areas may be cheaper to insure than others. Make sure the property is in an affordable insurance area too, by talking to your insurance representative.

2. Is it zoned properly? Make sure you’re able to conduct your type of business in that area before looking at the property more closely. Changing zoning regulations and boundaries can be a time-consuming bother. It’s much easier to find a location that meets your needs.

3. Is the facility large enough for your business now and tomorrow? One important consideration beyond making sure the space will fulfill your needs now is to make sure it’ll fulfill your needs five years from now. This is important for two reasons. Firstly, it’s expensive to move and you may lose customers during the transition. Secondly, you may be able to negotiate a better lease if you can sign a long-term one and saving money is always good.

4. What condition is the building in? If the building needs too much maintenance and upgrading to meet your needs then it’s going to be costly and the constant construction is going to get in the way of you doing business. Make sure the building or space you lease is in good shape.

5. Does the existing space meet your needs? This means not only the layout of the space but also the existing wiring, plumbing, lighting and so on. The less remodeling work you have to do and pay for, the better.

6. Is the space in the path of your target audience? Are you on the main thoroughfare in a busy commercial area or will people have to drive out of their way to find you? Is the space in a location that’s easy to get to?

7. What about the outside? Is parking adequate? Is it easy to get into the parking lot or are one way streets and hidden buildings going to drive your customers crazy trying to find you? 

8. Where is your competition? Sometimes it pays to be close to your competition; for example, if you offer different or complimentary products, you may get their overflow. On the other hand, being located on the otherside of town may be more beneficial.

9. Are you on or near a bus route? If you’re opening an establishment where customers will be coming to you, it’s important to make sure you’re accessible by all and that means being close to a bus route or other public transportation.

10. Finally, what’s included in the rent? Some properties will pay utilities, offer to make any necessary repairs or remodel the space to fit your needs, while other properties leave you on your own to cover all costs. Find out what you’re paying for and then make sure it meets your budgetary needs.

Finding the right space for your scrapbook business can be a long process but once you find it, you’ll be rewarded by bigger and better profits. And that’s what we’re all shooting for, right?

Related article:

• Tips for Negotiating Your Business Lease

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