How Do I Choose the Right Location for my Business?
Choosing the right location for your office is vital to the success and growth of your business. Getting it right can attract new customers and high calibre employees.Here are some of our top tips for finding the ideal location for your business.
Think Business Growth
Understand the state laws and regulations in force, and check out the government programs and business support services available to local companies.
- Consider the reputation of the area - Will the location reflect your brand values or boost your image? Would it reinforce your credibility to move to a downtown address?
- Analyze the demographics of the area in detail - This will tell you whether the area is likely to be a hotbed for new clients and talented employees.
- And of course, check out the competition - Will you be able to compete effectively?
Keep your People Front of Mind
- The location has got to be right for everyone connected to your business - Will your staff be able to commute there easily? How good are the local facilities?
- Different areas could offer the potential to form strategic partnerships, or even attract investors.
- Above all, will the new site work for your customers? If it doesn't, you can strike it off the list.
Get the Practicalities Right
- Check with a planning agency - To see whether the local zoning regulations permit businesses in your sector in the area.
- Transport links - Consider how near you'd be to main roads, train stations and airports, but remember the flip side too - will this mean increased noise and pollution levels?
- Last but not least, check out the local crime rates - Will your customers and employees feel safe travelling to and parking at the location?
Plan your Budget with Precision
- Economy is important - But remember you're there for the long-term, so it's worth finding the right place. If you do choose a more expensive location, decide whether increasing the cost of your services is realistic.
- Income and sales taxes vary a lot between states - And could you pay less property tax by locating your business across a nearby state line?
- Finally, look up the federal minimum wage - Calculate how this will affect staff salaries.
For all the information you need to complete a successful move, check out our Office Space Checklist.
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