Business: How to determine a business location

Business: How to determine a business location

BUSINESS- The location of your business can affect how much you have to prepare and how you promote it. So, your business is know to potential customers, and even affects how much business profit you can finally get.

Therefore, determining a business location can be a very strategic decision, especially for those of you who are just starting a business. There are many things you should consider.

It’s okay if you need a little extra time, but not too long either. Remember, apart from you, there are other business actors who are ready to compete for opportunities.

To quote Richard Branson, a billionaire and successful entrepreneur, “Opportunity in business are like a bus. There will always be other buses wanting to catch up.” Just like a business location, even though your business is attractive, you choose the wrong business location. Then other competitors will likely catch up and catch up.

Tips for Choosing a Business Location

Well, to help you, here are things you can consider before deciding to choose a place of business.

1. Location in Running a business

Tips for choosing a location in running a business, one of which is whether the location is strategic or not. The definition of a strategic place is a place where the target buyer or customer can easily see, memorize, and find your location. With so many people living and visiting around the site, many opportunities are wide open for your store.

The number of people who come to your store will also have a good effect in terms of promotion. You can introduce products to potential customers so that many know your merchandise.

But you also need to pay attention, to is your product or service in accordance with the target consumers around the location or not? For example, you want to sell branded clothes and bags. But the location you choose is a fruit and vegetable center in a traditional market. Of course, potential buyers who are present will be less likely to come to your place. Because the location you choose is a traditional market.

2. Condition of Business Building

Before deciding on a choice of a place of business, it is better to pay attention to the condition of the building. Is the condition of the building still livable for some time to come or not? If it is feasible, then the building and location have good potential.

The feasibility of building conditions is important to consider. You should think about the future potential of the building. It is not good to force a place if the building is not proper. Because you can potentially spend time renovating.

Not only is time running out, but it will also increase operational costs in repairs. It will be a very loss for the corporation to start by wasting on building improvements and will automatically reduce capital so that it will potentially hinder a business’s growth to develop and progress.

3. Building Area

The area of ​​the building in running a business must be in accordance with the field of business that you will be in. For example, if you want to open a boutique, a boutique area that is too narrow has the potential to make your potential customers uncomfortable. Moreover, consumers will usually try and see in the glass the clothes you have.

The building area will also help you in the preparation of goods and stock of goods. However, being too broad is also not very good and reduces the attractiveness of potential buyers.

Therefore, it is very important to have the right spatial and layout strategy and plan. You need to have a strategy for dealing with existing strengths or weaknesses so that they can be utilized or transferred to the maximum extent possible.

4. Parking Area

If your business is targeting a large number of potential buyers. Parking space will be important for consumers. For example, you want to open a restaurant business. If the buyer with a hungry stomach has to find parking with difficulty. Automatically makes prospective customers give up on coming back.

Parking is one of the convenience considerations for your business. With sufficient parking space, it will give your business plus points.

However, that doesn’t mean you need to find a location with as wide a parking space as possible. Instead, it will make people who are not potential customers or customers will only ride your parking lot.

If you already get a parking lot that is too wide. Don’t forget to give a sign that the place is specifically for your customers or potential buyers.

5. Safe and Comfortable Environment

Security is a very important factor in site selection. Not just for you as a business owner. But it’s also important for your customers and potential buyers.
Make observations and surveys first by asking the local community if you really want to know. You can also ask the authorized officer.

6. Selling or Rent Price

Price is of course a very important consideration. Requires a site survey to see if the location matches the price offered.

It is necessary to pay attention to the size of the area, the value of the building, or access to the road. Make sure these considerations fit the market. Do not overprice!

If you decide on the location by renting a place, understand the market price of the place compared to others. Consider the amount of the rental price against any potential benefits that get the facilities and lease extension agreements.

7. Road Access

Imagine that you already have a nice, luxurious, clean place of business, complete facilities, and a large parking area, but it is very difficult to reach the access road to your place of business or the road conditions are so badly damaged that it is difficult for people to reach it. If that happens, it will make your customers less attracted to visit your place of business. Road access plays an important role in supporting the continuity of your business.