Choose a Location for a New Business
How to Choose a Business Location and Building
Written by Jason Gordon
Updated at July 11th, 2021
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Table of Contents
How to Choose a Building or Location for a Business?Assess needs of business:ZoningSufficiency of office, building, facility:CostsIs the area accessible to customers?Are there complimentary businesses (or competitors) in the area?Does the location fit the business brand or image?Landlord characteristics:How to Choose a Building or Location for a Business?
Below is a list of factors that you should explore when choosing a location to establish your business.
Next Article: Lease or Purchase Commercial Property Back To: ENTREPRENEURSHIP
Assess needs of business:
- type of building (building specs),
- operational needs,
- branding needs,
- financial limitations,
- etc.
Zoning
- Residential
- Commercial
- Mixed-Use
- Industrial
Sufficiency of office, building, facility:
- build out,
- parking,
- storage,
- state of repair,
- expansion ability,
- lighting, HVAC, electrical, communications internet/phones,
- security,
- etc.
Costs
- renting or purchase,
- utilities,
- tax rates & incentives,
- Employee wage rates,
- other expenses,
- etc.
Is the area accessible to customers?
- walk-ways,
- public transit,
- traffic density and flow,
- safety,
- Regulatory (ADA)
- etc.
Are there complimentary businesses (or competitors) in the area?
- Is the location operationally efficient:
- shipping,
- deliveries,
- available workers,
- parking customer/employee,
- etc.?
Does the location fit the business brand or image?
- Design
- Community Demographics
Landlord characteristics:
- attitude,
- financial stability,
- willingness to negotiate the lease,
- etc.