Every entrepreneur knows that the right location matters to the success of business.
This is why the choice of location is always an important part of your business plan.
Before you go ahead, and rent an office for your business, you need to consider the kind of business you’re into, and ask yourself if the location will enhance your business or not.
Not every business can succeed anywhere in town. To consider the right location for your business, consider the following factors:
Your Customers, and Type Of Business:
What business are you into and who are your ideal customers?
To be able to get this well, take a walk around the area you intend to locate your business and make observations about the residents in the area.
Are they low income earners? Government workers? Civil servants? Is it a commercial area with similar businesses?
The type of people who live around your business location counts very much.
One other good example is if you’re involved in selling fish. Such business doesn’t need much brainstorming. Simply ask yourself, where do people who want to buy fish for consumption go to? To the market of course!
So, when starting your own fish business, make sure you find a strategic location inside a busy market to ensure visibility and endless flow of customers…
Watch The Major Traffic:
In what directions do most people travel to and from work everyday? What are the main access roads to their workplaces?
Be wise enough to set up your business around, or along that ever moving traffic.
This is because your small business can only survive with the right number of customer patronage. And people buy only what they can see. So ensure that you’re located along the flow of traffic so that as commuters come and go on each day and constantly make purchasing decisions, they can see your signboards announcing your presence their, making it easier to patronize your product or service.
Easy Access Roads To Your Location
When deciding on a location for your business, you must consider the ease at which your customers can reach you. If they have to travel far to get you, then soon with competition rising everywhere, they may be forced to seek alternatives to your business.
In order words, the traffic situation between your office and your customers may be a hindrance.
Leverage On Other Similar Businesses
There’re people involved in the same business you’re going into, within your city or locality, and they have made a success of it. Be careful to observe their choice of location, and let it guide you.
Also, you can consider setting up your business in areas where similar businesses are located to ensure that you can enjoy the flow of customers to the area.
Observe locations like the malls, markets, and commercial nerve centers…
Here’s just a quick guide to choosing the best location for your business. I hope you were able to pick some business location tactics from this post.
Let me know what you think in the comments section.
What’re your views in choosing a business location? Let us know your thoughts.
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