Choose a Business Location - Explained
How to Choose a Business Location and Building
Written by Jason Gordon
Updated at April 14th, 2022
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
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.
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.