How To Choose A Business Location
If you’re setting up a new office, relocating a current one, or buying a business, there’s a lot of decisions to be made. One of the biggest decisions is what the best location for the business is. Where should you set up? There are a few things to think about as part of your decision.
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The main thing to consider when deciding on a business location is how easy the location is for your staff to access. If you’ve set up in the middle of nowhere that requires people to have long, annoying commutes, then you aren’t going to have a very happy team. You also want all our locations to be easily accessible for customers too.
Choose somewhere that has good transport links. Ideally, you want to be near a main road for those who drive, and near a train station or bus stop for those who don’t. Make sure there is some way for staff and customers who don’t drive to reach you, so you don’t accidentally limit your hiring pool or customer base, by choosing somewhere that needs a car to get to.
What kind of business are you going to be running? Do you need to attract people in from the street to buy products and get your business noticed? Even if you don’t need footfall, an area that has high footfall can be useful if you need to build up brand recognition. If people often walk by your business and get used to seeing your logo, then your business will become more recognizable to them. Footfall is essential for businesses that rely on customers coming inside.
Is your business located in a safe area? If your business is in an area that is known for low crime rates, then your insurance costs can be lower. There’ll also be a lower risk of your business being broken into. Working in a safe area will also be nicer for your staff, especially if they often leave the premises later in the evening.
You can improve security by making sure parking areas are well lit, and fitting security options like parking barriers and door entry systems.
What kind of people live near your business? Is there a community of people in the area who might be interested in what you offer? Does your target audience live nearby? Keep the potential hiring pool in the area in mind too. If you want to be able to hire the right talent, you need to know they will be able to reach you, and ideally, live nearby so they will apply to work for you.
If you need people with certain qualifications or like to hire recent graduates, then choosing a location near a university campus or a trade school could be a good idea, as you have a ready-made hiring pool.
Choosing where to open your business is a big decision, with a lot of factors to consider. Make sure you weigh up all the options before you decide.