Location, location, location!

If you’re planning a new start up business then you will want to pick the very best location to ensure your business plan succeeds. There are many things to consider when choosing the ideal location and it pays to get it right. Here are some tips to help get the ball rolling:

Demographics – you need to think carefully about who your customer is going to be and how critical is it that you are in close proximity to them. Your target market will help you decide and if you are a retailer or offering a service then your location is going to be more important than if you are a mail order company for example.

Employees – are the people available in that area with the relevant skills that you might need? Does a specific community have the resources for your business to be a success? Potential growth in an area will be of interest to you, as will continued investment in the area, providing suitable housing, recreational facilities and schooling. Look for areas that have undergone regeneration and continued investment, such as Cardiff. For a Cardiff web designer, visit http://www.netcentrics.co.uk/.

Operation – will your business be formal or informal and think about whether your choice of location fits in with your planned style of operation. Will your business be static or mobile? Finding the right area to suit your business is critical for it’s success.

Competition – what other services and businesses will be nearby. If there are a range of businesses then maybe their customers will be attracted by what you are offering too and so the proximity of other businesses could be of benefit to you if you are not in direct competition.

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Image – if you’re not overly familiar with the area then check on how it is perceived by locals. It might be worth checking the history of the area and how it has evolved. This could throw up important information for you to capitalise on or learn to avoid. See if you can find out why previous tenants moved on, especially if they were in the same industry as you. If many businesses have failed in that location then the local population may equate your new start up with imminent failure too. Try to find out if there was something wrong with the type of business or if it is indeed an issue with the location.

Accessibility – is there easy access for all who will be using the site? You need to consider staff, customers, contractors, delivery services and suppliers. Is there sufficient parking and if not, what will the solution be. You will need to consider any possible restrictions that are in place with regards to access.

Facilities – if you are planning on leasing in a shared building then you will need to ask lots of questions about what facilities are in place. When are the doors locked, is there access at weekends, when is the heating and air conditioning running, will you have keys etc. All these things need to fit with the way you plan to operate as there is no point in leasing a building that closes at weekends if you want to work on a Saturday!

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Sue

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