How To Choose The Right Location For A Business
Choosing the right business location is a key component of business success. If the company’s location is in the wrong place, it may be difficult to reach customers. The location plays an important role in increasing business profits and success.The location selection process is a strategy to have an optimal location. for the project by defining the business’s needs and goals from the business plan.
Choosing a business location can be a hidden challenge. How do you ensure that your next startup location supports your goals? And drives your organization forward.
The business location selection is a process of examining multiple options.
After you know the importance of the business location, you have to know how to choose the right one? And what you have to do to make your business location known as fast as possible?
Signs are used for drawing attention to your business. So you have to choose every road that leads to your business location. And put a great sign showing the direction to your business.
After you know the importance of the business location, you have to know how to choose the right one? And what you have to do to make your business location known as fast as possible?
How to choose your right business location?
Put into your considerations these standards when you lookup for your business location:
1. Nearby to the targeted market:
It is better to choose the location in a place where the demand for the product increases. Proximity to this place (the market) saves transportation costs. But this is not the only factor that determines the problems of location selection.
Keep in mind that small delivery companies need to get in and out of the place easily. and companies that use large transportation trucks need big roads to pass.
When looking at the extent to which a location is noticed easily. look at the location from the customer’s point of view. And always remember that the better the vision of the store or project. the less you need for ads.
2. Nearby to the competitors:
Your proximity to other competitors may be important to your success. and it may cause you an obstacle. Identifying competitors in your area and their presence helps you to ensure that you choose the right place for your business.
If there is a lot of competition, it may be a warning sign to start looking for a new location.
Of course, there are many exceptions to this matter, such as car dealers who want to be close to each other. But if you have a unique product, choosing a commercial density area will attract customers very quickly.
3. The ease of the location access:
If your business depends on transportation, make sure to choose an easily accessible location. Also, you should see if public transportation can reach this location or not.
If it located on the main highway or in a crowded street, how easy a car can get in and out of. And see if the place has corridors for people with disabilities?
Keep in mind that small delivery companies need to get in and out of the place easily. and companies that use large transportation trucks need big roads to pass.
4. Location Noticeability:
The chosen place should have a clear view of the main road and not hidden somewhere. otherwise, clients cannot reach it easily.
5. The reputation of the chosen location:
You should avoid places with a bad reputation when choosing a project location. otherwise, you will spend a long time changing the concepts previously taken about the place. Avoid locations where a crime has occurred or any bad accident.
Is there security in the building? Is it in a vital area or is it in a dead place?
Places in the middle of the city or vital areas meet more credibility.
6. Previous experiences:
It is not smart to go open a new restaurant where five other restaurants have failed. Ask about the history of the place. And whether the location and the surrounding facilities helped previous projects succeed.
Or was it a negative factor that led to the failure of previous businessmen.
7. Facilities availability:
Many entrepreneurs forget to think about facilities when choosing a location. First, you must determine what facilities you need and agree with the owner on them.
Facilities could be parking spaces, the use of the back, the presence of public and private bathrooms for employees and clients. Ask if the place expandable and other necessary things for the nature of your business.
The location of the business should be carefully chosen by planning and calculating every small and large matter in it.
Additionally, Moving the project is very complicated. And It may affect or lead to failure. If it does not observe all the requirements in the beginning.
8. The location owner:
Look at some reference sources. Is the owner responsive and easy to deal with. or is it difficult to speak with?
What you have to do to make your business location known as fast as possible?
Google my business:
Many startups that operate online or offline have a google my business listing. Many customers are searching online for places. You definitely want to show up in those maps listings.
When your business lists on GMB you will appear in the right sidebar of google search. with reviews, ratings, and a small snippet about your business. which makes you look very credible.
Make sure to get it set up.
200 meters signage:
The distance between your business location and the sign should not exceed 200 meters. also, every sign has to contain how many minutes are left to your business location.
Google Maps:
Google maps have become one of the popular apps ever. showing up in google maps can bring many customers to your business as long as you listed on them.
Search on google " How to add your business location in google maps " and you will be listed in 3 easy steps.
Yelp:
When you start a business, you have to register it on Yelp. Because yelp has become a huge business directory, where clients can review your business and recommend it to others.
It's a great way to reach new customers and one of the fastest ways to make your business location famous. so you have to make sure you're registered on Yelp properly.
We didn't finish here. We want you to choose the right location. So, here are some great videos on business location selection:
Note: If you still confused about how an entrepreneur chooses a business location that achieves his goals. Or how are you going to choose a place that fits your goals?
Don't worry, I kept a solution for you, and believes in me this problem will be done by choosing the perfect location.
The solution is a book called "LOCATION, LOCATION, LOCATION". This book contains valuable information about the location selection for any type of business. check it here in amazon.
We didn't finish here. We want you to choose the right location. So, here are some great videos on business location selection:
1. How To Choose A Location For A Store or Restaurant
2. GCSE Choosing a location
3. Business locations and the factors affecting the choice of location - Year 11 VCE Business Management
Don't forget to share with us what did you learn in today's post.
1 comment:
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