Why is Location so Important to Your Business?

24/08/2021

The perfect location for your business, the key to success. Learn in this article how to make the right choice.

Choosing the right place to set up a street business is very important for its future development. But it is not only in this case that it is a transcendent decision. According to luminablog.com, if you are independent or an entrepreneur and you will start your business adventure, finding the perfect location, even if it is not a traditional business, must be a priority, no matter what you do.

And, a good location is, without a doubt, a decisive element for those who want to lay a solid foundation for their work and start their new project with the right foot.

How important is the location of the business?

Importance of a good location in a business or business project is so important that it will directly influence the future success of your business. For this reason, it is very useful and almost essential to conduct a location study before hiring or buying an office or commercial space. Property management services can also help you in choosing a suitable location.

A priori, a good place allows you, in the case of a business, to increase the ability to attract customers and, in the case of an office, that combines comfort, functionality, cost savings, and visibility; in short, which provides the keys you want to pass on with your business project.

These are the features that your office location should have if you want to succeed:

  1. The building itself. Adequate accesses, facade, and common spaces, in good condition; which incorporates technological elements (telephone connection, Internet access, etc …) according to the needs of your business and which is efficient, which will lead to great energy savings.
  2. Area. Make it attractive with shopping and restaurant areas; easily accessible by road or public transport and, ideally, where several business projects are located, as this will create a very stimulating work environment for you and your customers and suppliers.

Match your brand with your location

Visual aesthetics can help you narrow your perspectives. If your business exudes a vibrant and collaborative culture, then a traditional closed office space may be a little unconventional for your company.

Maybe a modern style or a contemporary building can better match the image you are trying to represent. Whether we like it or not, it’s about maintaining the character of your brand in the business world. This is what attracts customers and consumers.

You need to consider the costs

Before you begin your search, create a budget plan for this imminent and necessary expense for any company or professional who needs a physical space to run their business.

In this case, the question would be: how much can you pay for your company’s headquarters?

This is one of the most important factors to consider, especially if you are a new business with financial constraints.

You will simply need to calculate rental or monthly rental costs, taxes, average utility costs, interior infrastructure and modifications, upgrades and additional facilities, other construction fees, and so on.

Other factors to consider:

  • Easy access for customers
  • Parking
  • Metro station
  • Bringing the market and customers closer together.
  • Available premises.
  • Visibility of spaces, pleasant architecture, and good lighting will determine the ability to attract business attention.
  • Pedestrian traffic, because the busier the street, the more likely the business is to be visited.
  • Road traffic, the condition of the roads, the existence or not of the traffic jams, if it is a one-way street, the different access roads, etc.