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Choosing the Right Business Location

Finding the right location for your business is critical, and the number of factors that come into play can be mind-boggling. Should you cater to your customers, or are you more concerned about leveling the playing field with the competition? How much space do you need? Regardless of the nature of your business, it’s important to have a clear idea of your business goals before you begin shopping for real estate. To help you get a better understanding of what to look for, we’ve provided a few factors to be aware of before you set up shop for your new small business. Does it work for you? Above all else, you must first take into consideration your own needs. After all, you are the business owner. If the location won’t work for you and your family, then the location won’t work at all. Don’t purchase office space over an hour away from your home if it means you’ll save in property taxes. While important, your sanity and dealing with a two-hour commute everyday is more important. What will it cost? Cost is an obvious factor when it comes to choosing real estate for your small business. But what is not so obvious is how that cost can add up and quickly if you don’t do your homework. You’ll want to take the state, city, and county tax into consideration. There are also zoning requirements that you’ll want to research to make sure your new building is even allowed. To help you find the right city for your business, you may want to check out our list of top cities to start your small business. You’ll also want to consider the size of the office and how that will affect your monthly utilities. Do you really need that 1,200 sq. ft. office space? How safe is it? Not only for your safety, but also for your customers and employees, be sure the location of your small business is in a safe area. Do customer and employees have adequate and safe parking? Is the parking area well lit for evenings and after store hours? What about the surrounding neighborhood? Use tools, like CrimeReports.com, to further research the safety of the neighborhood. Ultimately, when determining the location of your new business, you’ll want to have a clear business plan in place and understand what’s important for the success of you business. Just remember to do your homework before signing any lease. Have you recently purchases office space? What suggestions do you have?