One of the more important decisions that you may end up making as an adult is where to locate your small business, if you choose to have a physical building. This will have a huge impact on your overall success as a business person, so it’s one decision that absolutely should be made with the utmost respect to detail, and not be taken lightly.
Five things to consider when making this decision would be what the space looks like from a virtual standpoint, what neighborhood the location is a part of, what kind of curb details are present, if the building site has room to scale, and what the history of other small businesses in the area are.
1. Search Virtually For Spaces
You can look up property management services in the area that you’re interested to get a good idea of the value of the land and nearby areas. These services will typically have inside information on residences and businesses, and will usually have images on display so that you can see how your potential new area looks from an online perspective.
2. Think About the Neighborhood
What neighborhood a small business is in can have a drastic impact on how much money you can make as well. Even further, what section of a neighborhood you’re in can matter. Think about a larger city like Los Angeles or Detroit. Even a block or two can make a huge difference. So the more attention that you pay to the surrounding neighborhoods when you’re making the decision to locate your business somewhere, the better you can absorb the potential vibe of your operation.
3. Pay Attention To Curb Details
Curb details can make or break a small business that requires people to come to the front door. How often do you hear people complaining about parking to get into different stores? Or complaining about how the outside of a building is dirty. These immediate turn offs can quickly lead to less sales, which is why it’s always smart of have the best curb appeal possible.
4. Does It Have Room To Scale?
Many small business owners don’t think far enough in advance when it comes to the ability of their physical location to scale. If you sell products, then you have to be prepared for success. What if you suddenly get an order for 10 times as many of your product as usual? Do you have room to store them, and do you have the ability to ship from your place? These questions are important.
5. Look Up the Location History
If a location seems too good to be true for the price that’s being asked, then make sure to look up the history of the area. If small businesses tend to fail in a certain location, it might be a sign that you shouldn’t set up shop there.