Location Tips for Your Business (old) - old

Location Tips for Your Business

1.Style of business

What is the nature of your corporate image? Is it meant to present a formal and elegant front, or is it kicked-back and casual? The location you choose should be consistent with your particular style and image. Consider the retail business.

If your business is retailing, do you want a traditional store, or something different, such as operating from a kiosk (or booth) that you can move to various locations.

2. Accessibility and parking

Location is an absolute critical point for your business, not only for your customers, but even employees and suppliers. Small-package couriers need to get in and out quickly; shipping companies need adequate roads and loading docks if you’re going to be receiving freight on pallets. Ensure there’s adequate public transportation access such as a nearby commuter station. The location should also be accessible via major highways.

Also be aware of how much parking space there is and if it’s convenient for both customers and employees.

3. Foot traffic

For most retail businesses, foot traffic is extremely important. This works out well at a location that also has offices nearby, maybe even condos, SOVOs or other high-capacity residences. This will help bring in the necessary foot traffic your business needs to survive.

4. Proximity to other businesses and services

Have a look at what other businesses and services are in the vicinity. There are two objectives to this; to scope out potential competitors as well as see if those companies can play a supporting role to your business. Of course, gaining from their traffic could also be an advantage.

Also see how they might be able to enrich the quality of your company as a workplace. Do they offer necessary services such as refreshments and other daily necessities? Can your customers and employees benefit from other services these businesses provide, such as a day-care centre for children?

5. Image and infrastructure

What does this address say about your company? Is it a prestigious “brand” that you would like customers to feel impressed that you’re associating with? Does it reflect the image you want to project? Many older buildings aren’t kept up to date with the necessary infrastructure to support modern businesses.

Make sure the building has adequate electrical, air conditioning, and telecommunications service capabilities. A reputable developer would have taken these into consideration for your present and future needs.