Choosing a good location for your business is a vital step in your success. Consider your business needs. You might need to be right in the middle of the city, or you might prefer an industrial estate for your location.
To decide what location is the best for your business think about who needs to use your business.
This will help you decide if you need to:
- attract passing trade
- be close to key suppliers, customers or related businesses
- make regular trips to the bank or a post office
- have public transport facilities close by
When considering a location for your business it is important to ask yourself these questions.
- Is the location zoned for the type of business you are starting?
- Does the site have adequate services such as water and sewerage and garbage collection?
- Are qualified employees available in the area for you to hire?
- Is the location close to your target markets served by your business?
- Is the area growing or declining?
- Is the area convenient for you to travel to everyday?
- Is the rent and insurance reasonable in the area?
- Are there any competitors in the area?
- Are the inventory and supplies the business needs available in the area?
- Can suppliers conveniently make deliveries to you?
- Is public transportation accessible for your staff and customers?
- Are the utilities needed to run the business available?
- Does the location have good visibility?
- Are there facilities nearby for transporting goods, a post office, train station etc?
- Is the location suitable for expansion in the future?
- Is there adequate parking for customers and employees?
Starting Up Information