Cite this article as:"Choosing a Bldg & Location," in The Business Professor, updated August 19, 2014, last accessed June 7, 2020, https://thebusinessprofessor.com/lesson/choosing-a-bldg-location/.
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Choosing a Building or Location
Below is a list of factors that you should explore when choosing a location to establish your business.
- Assess needs of business:
- type of building (building specs),
- operational needs,
- branding needs,
- financial limitations,
- Sufficiency of office, building, facility:
- build out,
- state of repair,
- expansion ability,
- lighting, HVAC, electrical, communications internet/phones,
- renting or purchase,
- tax rates & incentives,
- Employee wage rates,
- other expenses,
- Is the area accessible to customers?
- public transit,
- traffic density and flow,
- Are there complimentary businesses (or competitors) in the area?
- Is the location operationally efficient:
- available workers,
- parking customer/employee,
- Does the location fit the business brand or image?
- Landlord characteristics:
- willingness to negotiate the lease,