An Entrepreneur’s Guide to Finding a New Business Location

Entrepreneurs are always looking for ways to make their business bigger and better than ever before. There are some truly brilliant ways to do this. But, did you know that your business can thrive and prosper by simply moving its location? This is an excellent opportunity to boost your business and maximise its potential.

Whether you are launching a new business or revamping your current venture, you need to know how to find the perfect place. It seems that many CEOs are not au fait with the importance of a business’s location. Your image depends on being in the right postcode. So, if you want a fast track to success, here is how to find a new business area that is perfect for your needs.

Your Business: What Does it Need?

You need to take the time to understand the needs of your business. This will ensure that you find the perfect place. If you are a customer facing function, then you will need somewhere where customers can find you. Hiding away on an industrial park may damage your brand. If your business is a dangerous one, such as a chemical plant, you will need to consider the safety of residents. Understanding the needs of your business is crucial to finding the right location.

What About Your Customers?

You need to find out who your demographic is. What do they need from a company like yours? Do they need you to be a prominent business? Finding out about your customers is critical to your success. There is a wealth of information online to assist you with this. Population trends and statistics can help you find out what you need for your venture. Gather as much data as possible. This is just good business practice.

Let’s take a look at this example:

If you own a daycare facility, you may want to check census information on schools and family households in the area. You will want to make sure that your business is in a postcode with a high volume of family homes. This information can be sought online to assist you with your business needs.

190649203_20ab5bb020_zImage: Jono Haysom

Assessing the Building.

You should visit Info Track for title searches for information on properties. You need to make sure that you are leasing the property that is in the best possible condition. After all, you don’t want your business brand to be damaged by other people’s negligent behaviour.

Before you sign a lease, you need to consider the building itself. What is the condition of the property? Has it been maintained? Does it need work doing to it? You don’t want to close your business for a week because the roof has caved in. But, having a prominent postcode means that you may have to put up with some minor issues within the building. After all, you need to weigh up the pros and cons for your business.

Finding a prime business location need not be an arduous task. Think carefully about your business and what a new location and building can do for you.