The experience, expertise and knowledge behind Corporate Business Solutions allows us to effectively help small and medium – size businesses access information needed for growth. Business owners often must scout for new locations, whether they’re opening a second storefront, upgrading or downsizing. For those of you looking to find a new business location, we have tips that may help you:
- The type of operation – Your location should be consistent with your particular style and image. For example, if your business is retailing, decide if you want a traditional store or if you prefer operating from a kiosk (or booth) in a mall or a cart that you can move to various locations.
- Business demographics – There are two important angles to the issue of demographics. First, consider who your customers are and how important their proximity to your location is. Then take a look at the community. If your customer base is local, does a sufficient percentage of that population match your customer profile to support your business? Does the community have a stable economic base that will provide a healthy environment for your business? Be cautious when considering communities that are largely dependent on a particular industry for their economy; a downturn could be bad for business.
- Foot traffic- For most retail businesses, foot traffic is extremely important. You don’t want to be tucked away in a corner where shoppers are likely to bypass you, and even the best retail areas have dead spots. By contrast, if your business requires confidentiality, you may not want to be located in a high-traffic area.
- Accessibility and parking – Consider how accessible the facility will be for everyone who’ll be using it—customers, employees, and suppliers. If you’re on a busy street, how easy is it for cars to get in and out of your parking lot?
- Proximity to other businesses and services – Take a look at what other businesses and services are in the vicinity from two key perspectives. First, see if you can benefit from nearby businesses—by the customer traffic they generate—because those companies and their employees could become your customers, or because it may be convenient and efficient for you to be their customer. Second, look at how they’ll enrich the quality of your company as a workplace.
To learn more about us and / or to schedule your complimentary appointment with the business experts at Corporate Business Solutions, call us at 877-357-9366.