Things you must consider before choosing your business location!

[Mellorando]

You may have the most exceptional product or service on earth, but if your business is located in the middle of nowhere, the reality is you won’t make much money. Firstly it’s important to find out what business location is good for the type of business you operate. Are you a retail business, mobile business, industrial site, or are you expanding from online business to online and brick-and-mortar? Every business type needs to prioritize different factors when choosing a business location but there are some fundamental factors that apply to all types of businesses.

*Things to keep in mind when choosing a business location:
A business location strategy takes planning and research and a willingness to thoroughly vet all of your options. To help you, we have carefully selected the most crucial factors to consider, when choosing a business location for your business. With these helpful tips, you can identify the best place to locate your expanding business.

1. Proximity to the market
The closer you are to your customers, the greater the chance that they will buy from you again. Who is your customer and where are they located? Are they other manufacturing companies? or are they an end consumer? You must have answers to these questions, before choosing a business location.

2. Rent price
You might think this goes without saying but the rent price is not all you need to consider when it comes to money. When choosing a business location you must consider the hidden cost of doing business as well. Renovations, taxes, utility upgrades, minimum wage requirements, and economic incentives are costs that can increase your costs or save you some money.

3. Moreover, don’t underestimate the power of word of mouth. Before you sign the rental papers, speak with other business owners in that area. Find out as much as you can about the location. In the end, you can never know for sure whether a business location will bring success to your business or not, but making thorough research will help you ensure if a location is the best fit for your business.

4. Demographics
Demographics are without a doubt, one of the most significant factors to consider when choosing a business location. It’s important to be near your target customer group. For example, you don’t want to sell gaming consoles in an area populated with older generations. The sales will be higher in an area dense with your target market.

5. Infrastructure and accessibility
Good infrastructure is beneficial to any kind of business. Power and water supply, good road connections are just a few factors to consider when choosing your business location.

6. Lack of enough parking spaces for your employees, or accessibility for people with disabilities, can be an issue in some locations. A good location for business is usually not in a busy city area but exclusions apply. Nobody wants their employees to spend hours getting to work. Therefore, choose a location that won’t cause any problems with daily routines and tasks.

7. Distribution network
If your business is doing manufacturing, you’ll require a good location for a business start-up. Nobody likes to spend more money on transportation than they have to. Think twice before choosing a business location, good proximity to suppliers is key in minimizing logistics costs.Fortunately, you can leverage Enterprise League to find a pool of suppliers near your location. It’s free and it’s simple to use. Just set up your company profile within a minute and find the best suppliers around you with a single search.

9. Competition – to be closer or not
This business location factor is a double-edged sword. It creates both an advantage and a disadvantage. For instance, if the location has a lot of surplus customers because of your competitors, you might attract them as well– an extra benefit for your business. However, it can also go in the opposite direction – if both sides sell the same product, one team will end up losing.
Moreover, taking over a business location that’s not saturated by your competition might be a great opportunity to kick-start your business. But make sure that your product or service is in high demand in that area. Keep in mind that the reason your competition is low in some locations might indicate that it just doesn’t fit your business type.

10. Remote business location
A remote location is another flexible solution that can help any business. Having your business on a B2B platform gives you the benefit to access and work with any location worldwide. You will no longer have location as a barrier and you can easily collaborate with companies from every location and all sectors. Start using the B2B platform, share business tenders, receive proposals and share deals.

11. Safety
Even though safety might be underestimated it’s still one of the most crucial factors when choosing a good business location. This mostly applies to businesses that might be at a higher risk for burglary and theft but applies to every type of business as well. Your and your employee’s safety can’t be compromised, especially if your business operates during the night.

12. Recruiting efforts
If you are planning to hire employees, good access to public transportation will be a big plus for your business. Finding quality employees is not easy these days, so don’t put yourself in a position to lower your standards because you couldn’t entice a qualified workforce.

 

[Bard Racheal]

In business, there are so many things one need to consider.

A novice who's planning on starting a business, needs the help of a business counselor.

Without that, he or she won't have an idea on how to push his business to lime light.

And with the post here, some one who's considering starting a business, need to come get some pros and cons on how to start and where to base.

 

[Mataracy]

Before one chose the location where to site a company; many factors should be put in to consideration like looking at the environment if there is no competitors that can be disturbing the sales of the company.

The place must be an accessible place where customers can easily located.
The location must be consider so as to know the type of standard one can make the company be and look like so as to attracted customers.

 

[Jasz]

When choosing a physical location for your business, there are a number of different factors that should be taken into consideration. While it can sometimes be a daunting prospect to think about the levels of preparation and organization needed when choosing a site, the most important thing is to ensure that you find a location which not only provides everything that your business will need – but also utilizes every possible advantage to represent your business in the best possible way.

One of your biggest decisions as a new business owner, is where to set up shop. Factors to take into account may include: local population, level of competition, and availability of resources.


Businesses now value their relationship with the community in which they find themselves. The degree to which businesses and their quality of life ties does not end with good quality work space that is cheap, but it is essential for a business to feel a part of a growing network as well as being apart of the community. This is why many businesses choose to be in an urban hub or suburban setting where they have easy access to many different companies and services. Businesses will base their decisions on transportation, weather and security when choosing this sort of place over a rural area.

 

[Alexandoy]

The first in my list of importance for the business location is the market base. I have a friend who opened up a water station in a low class village. He didn't know that most of the residents there do not buy filtered or distilled water due to the lack of budget. What they do is to filter their drinking water with cloth (a cultural style of filtering water). After several months of paying rent the water station closed shop. The overhead was a big expense with the very little revenue. A water station is best to be in a residential village for middle class where the residents are all buying filtered water for delivery. That also applies to any business that is dealing with consumer products. If there is no market base then the business will look elsewhere for the buyers.

 

[eldavis]

What many business owners do not understand is that the location of their business plays a very important role in the business, it could make the business and at the same time break the business. Before selecting a location for your business make sure the location is a place where you can find your target audience. Most business owners complain of not having customers simply cause they are not in a place where they can find their target customers.

 

[Deleted member 28127]

The problem between job owner and employees is an increase in salary means the employer has a fixed amount of money to pay per month but after an employee get married expenses increases and after having 2 or 3 children expenses increase and when they are entering school expenses increases also but this is the main reason why good employees may leave the job.

 

[Kingsley]

There are alot of factors to put into consideration before sighting a business in a particular location, location plays a major role in determining the rate at which the turn over or sales volume will be in the course of running a business. Sighting a business in a wrong location will lead to poor sales output. the strength of the sales volume of the business rest heavily on the location of the business. Locations works together with the target audience or market for instance if one is involved in a business that has a lot to do with stationery it will be wise to locate it in a place like where schools are situated so that the target audience can have access to the to the goods or services. And another example can will be having an hotel in a less busy location or in a rural environment definitely the sales volume will be far lesser than hotels that are located in the cities or urban areas.

It is always good to take your take to one's time to sight a very good location where consumers will be able to have good access to one's business Venture and where the business will be able to reach the consumer easily without stress in case of necessity.

 

[PICKFORD]

personally I think you have to know the wealth of the people living around the neighborhood that you are trying to open a business in the world of the people are very low then you have to open a business in that area that requires a low purchasing price but if it is in the area where the well to the people are high then you can go ahead to open a large-scale business with high purchasing price to be specific imagine opening an industry in a rural area trust me you won't get patronage for the people as might expected but if you open a small scale business like a provision store then you are sure to and patronage from the individuals living among them another thing you must put into consideration is security of the area opening a business in a place with no security is not advisable at all like some people always say "safety first" you have to make a survey as well as enquiries from the people about the area that you are about to establish your business, another key thing to put into consideration is electricity if your business is a business that is power supply based example like selling frozen foods then electricity is one thing that you need to put into consideration

 

[Asad Ali]

What many business owners do not understand is that the location of their business plays a very important role in the business, it could make the business and at the same time break the business. Before selecting a location for your business make sure the location is a place where you can find your target audience. Most business owners complain of not having customers simply cause they are not in a place where they can find their target customers.

You may have the most exceptional product or service on earth, but if your business is located in the middle of nowhere, the reality is you won’t make much money. Firstly it’s important to find out what business location is good for the type of business you operate. Are you a retail business, mobile business, industrial site, or are you expanding from online business to online and brick-and-mortar? Every business type needs to prioritize different factors when choosing a business location but there are some fundamental factors that apply to all types of businesses.

*Things to keep in mind when choosing a business location:
A business location strategy takes planning and research and a willingness to thoroughly vet all of your options. To help you, we have carefully selected the most crucial factors to consider, when choosing a business location for your business. With these helpful tips, you can identify the best place to locate your expanding business.

1. Proximity to the market
The closer you are to your customers, the greater the chance that they will buy from you again. Who is your customer and where are they located? Are they other manufacturing companies? or are they an end consumer? You must have answers to these questions, before choosing a business location.

2. Rent price
You might think this goes without saying but the rent price is not all you need to consider when it comes to money. When choosing a business location you must consider the hidden cost of doing business as well. Renovations, taxes, utility upgrades, minimum wage requirements, and economic incentives are costs that can increase your costs or save you some money.

3. Moreover, don’t underestimate the power of word of mouth. Before you sign the rental papers, speak with other business owners in that area. Find out as much as you can about the location. In the end, you can never know for sure whether a business location will bring success to your business or not, but making thorough research will help you ensure if a location is the best fit for your business.

4. Demographics
Demographics are without a doubt, one of the most significant factors to consider when choosing a business location. It’s important to be near your target customer group. For example, you don’t want to sell gaming consoles in an area populated with older generations. The sales will be higher in an area dense with your target market.

5. Infrastructure and accessibility
Good infrastructure is beneficial to any kind of business. Power and water supply, good road connections are just a few factors to consider when choosing your business location.

6. Lack of enough parking spaces for your employees, or accessibility for people with disabilities, can be an issue in some locations. A good location for business is usually not in a busy city area but exclusions apply. Nobody wants their employees to spend hours getting to work. Therefore, choose a location that won’t cause any problems with daily routines and tasks.

7. Distribution network
If your business is doing manufacturing, you’ll require a good location for a business start-up. Nobody likes to spend more money on transportation than they have to. Think twice before choosing a business location, good proximity to suppliers is key in minimizing logistics costs.Fortunately, you can leverage Enterprise League to find a pool of suppliers near your location. It’s free and it’s simple to use. Just set up your company profile within a minute and find the best suppliers around you with a single search.

9. Competition – to be closer or not
This business location factor is a double-edged sword. It creates both an advantage and a disadvantage. For instance, if the location has a lot of surplus customers because of your competitors, you might attract them as well– an extra benefit for your business. However, it can also go in the opposite direction – if both sides sell the same product, one team will end up losing.
Moreover, taking over a business location that’s not saturated by your competition might be a great opportunity to kick-start your business. But make sure that your product or service is in high demand in that area. Keep in mind that the reason your competition is low in some locations might indicate that it just doesn’t fit your business type.

10. Remote business location
A remote location is another flexible solution that can help any business. Having your business on a B2B platform gives you the benefit to access and work with any location worldwide. You will no longer have location as a barrier and you can easily collaborate with companies from every location and all sectors. Start using the B2B platform, share business tenders, receive proposals and share deals.

11. Safety
Even though safety might be underestimated it’s still one of the most crucial factors when choosing a good business location. This mostly applies to businesses that might be at a higher risk for burglary and theft but applies to every type of business as well. Your and your employee’s safety can’t be compromised, especially if your business operates during the night.

12. Recruiting efforts
If you are planning to hire employees, good access to public transportation will be a big plus for your business. Finding quality employees is not easy these days, so don’t put yourself in a position to lower your standards because you couldn’t entice a qualified workforce.

What many business owners do not realise is that the location of their business is extremely important; it can make or break the business. Before deciding on a location for your business, make sure it is in a location where your target audience can be found. Most business owners complain about not having enough customers because they are not in a location where their target customers can be found.

 

[Kendy]

In setting up a business venture, the location is very important in ascertaining the potential success of the proposed business. Location plays an important role in helping the business owner maximize sales. The location should be setup in a place where the target audience is readily accessible. There is no business no matter how lucrative that would thrive successfully if it is not situated in a strategic location. A business owner who runs a clothing shop for men wears, yet locates the business in front of a university or college that is strictly for females will seldomly have sales. It is almost like an abberation because obviously, the business owner has misfired by opening or situating the business in such location. Also, running a restaurant business might be very profitable no doubt, but if this business is situated in an area which is more like an estate and the inhabitants like to remain indoors, sales would be lower when compared to someone that situate his in a busy school environment whereby students are restricted to cook in the hostels. On the business plan, location should always be of major concern. Do not settle for less because of the cheap price of a shop but go for a feasible location.

 

[TOZZIBLINKZ]

People make mistakes in the business by citing it in an area where they're not able to meet high potential customers who could buy the business commodities and services , that is why it is advisable that before establishing your business the location in which you intend to situate it must be put into proper consideration depending on the nature of the business . If your business is a kind that involve the act of buying and selling you must situated in an area with high population , reasons is because the higher the population the higher is your possibility to make profit and the other hand the lower the population the lower your possibility to make profit .

Another thing to consider is the taste and preferences of people residing in the area where you intend to start your business . Why is this so important ? Well considering the test of the people in the business area will give you the knowledge whether the business you intend to establish will succeed . For example if you open a gas or petrol station in an area where people do not have cars rather they use wheelbarrow and bicycle to transport themselves and their goods or commodity , search business in area like this is said not to reach higher heights do you to the taste and preferences of the people in the business environment .

 

[Sotherefore]

The rent price should not really be put into consideration . if you are thinking of getting a good apartment especially in a high populated and industrial environment that will be best suited for business growths then you shouldn't expect the renting price to be something lower because it will definitely be on the high side .

For me I'll just consider the potential of such a location first if it will be able to generate more profit to be able to recover back the rent I am paying , if the answer is yes I'll just pay whatever rent they ask me to afterall I'll be able to recover it with profit .

Personally when choosing a location for my business I will rather choose a location that is best suited for the type of product I am interested to sell. Some locations demands the selling of raw materials for industries while other location may demands the selling of finished product because of the high population of consumers . All these things should be put into consideration when thinking of getting a suitable location for your business .

In general urban settlement is just the best for any business growth .

 

[Rachael]

Location is one of the key factors that determines the potential success of any business. Location of a business matters a lot in the productivity and growth of the business. When setting out a business plan, it is important that a business owner be very technical and strategic where he operates a business. No matter he level of adequate funding, when a business is not situated where it can have a relatively high access to its target or specific audience, it becomes a huge problem to maximize sales.

It is a deficit for any business owner to assume or think that his business is for all, and has no target audience. This is a misconception. Even if you are engaged in selling food items, there are certainly some people that are vegetarians and might not necessarily purchase what you sell. Therefore, taking uncalculated risks is certainly not the way out. The accessibility of the location should be determined and the level of security should also be guaranteed. If the location is engulfed with very bad roads, it would be difficult to draw the attention of customers and if the area is know for insecurity issues or challenges, nobody would like to take such risks continuously.

 

[Setho]

The location is one of the most important aspect of every business and you have to be very careful whenever you are selecting it in order not to make a wrong decision .

The first thing that I advice for you to consider whenever you are choosing a location is to compare how much you are going to be spending in it compared to other cheaper alternatives. You are not going to want to set up a business in a location where you will have to transport your workers to that place or you will have to transport raw materials from a very long way before it can be able to get to the company.

You should also set up the business in a location that is very well secured. Security has to do with things like natural disasters human conflicts and wars and also protection from theft.

Your business location should also be a place that is very close to the market where you can be able to sell products immediately and exchange them for cash. It is also going to be a bonus for you if the location is going to be close to where your target customers are staying .

 

[Chibson]

There are a lot of things that should be put into consideration when choosing a business location. The location of your business plays a very important role to whether you will succeed in such a business or not and this is one thing that some business people who do not really consider.

There are several things you must put in place and make sure it is in place before choosing a business location and one of the most important is safety. Even if you are in a location that has a lot of population which means a lot of sales and your business is not safe, then there is high probability that such a business will probably not succeed on the long run because of high number of theft.

Another important thing you need to put in place is how accessible it is to the market or its nearness to the market. If your business is near to the market depending on the business you are into, then there is a high possibility that you would succeed.

Another important thing you need to put in mind is the level of competition in such an environment. Competition usually kills new businesses if not well planned. So you must have a strategy to combat competition.