They Say that Business is About Three Things: Location, Location, Location!You have a great product that you know will sell like hotcakes. You’ve created your business plan, hired salespeople, and obtained your business license. You even have great signage to post on the front windows of your store.
But only one problem remains…where to buy property?Everyone knows that the location of a business can mean the difference between extreme wealth and bankruptcy. If people can’t find your store, or if you’re located in a bad neighborhood, your chances of building a clientele decrease drastically. You know this, but you have deposits, rent, and availability to consider. Where is the best place to start? First of all, research is the most important step. If you don’t want to spend the money to hire a real estate agent, then you’re going to have to do the legwork, and one of the best places to start is on a drive around your community. Most of the time, you will find that leasing companies have signs everywhere announcing their properties, and their advertisements will usually contain the square footage. You won’t know a price until you call, but at least you have a starting point from which to work up. You can also check your local newspaper for classified ads. You can familiarize yourself with the leasing companies in your area and contact other businesses with which they do business. Find out which clients are happy, and which are not, and you can narrow your search from there. When you are looking at location, you should consider the type of products you sell. One of the best places to set up your business is in a strip center, but you want to make sure that there are no competitors in the same area. Veteran business owners sometimes gamble with competing businesses, but as a newcomer to the industry, you probably want to rent a shop where there are no similar products in the vicinity.
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