Small Business Starting – Selecting the Business Location 1
Prior to selecting the location, you should find out how many businesses like yours are located in the community, and do some research to determine what the market is like for those businesses. Based on the research, do you know whether or not there is a need for your service or product? This information is critical because you do not want to set up a business on the same block with three similar businesses.
When attracting customers to the business, you may need to offer them something special or unique to distinguish your service from the ones offered by your competitors. Maybe you need additional parking to attract customers and if so, then make plans for it. For a copying service, for example, you could keep the business open for 24 hours, making it convenient for the customers. You might want to give first-time customers a discount to try out your service. You could also offer pick-up and delivery services. You should always make things convenient for the customers even if it is an additional expense to you. Over a period of time, it will pay for itself.
The following is a list of questions to consider before picking the site for your business:
1) Will your customers be able to easily find your place of business?
2) Is public transportation available?
3) Will there be adequate security?
4) Will you pick up and deliver?
5) Will you offer 24 hour service?
6) Do you need a lot of space for the business?
7) If you choose another location, will the savings in rent off-set the inconvenience
to your customers?
Are there zoning regulations in the area?
Copyright © 2007, Dr. Mary E. Waters, all rights reserved.
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By: Dr. Mary E. Waters
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