Coming up with a clear picture of what we want our business to be can appear as a daunting task. Nevertheless, it is a crucial one, it deserves a lot of attention, and is irreplaceable for it to have a successful future. It is also not finite but a constantly evolving entity. A business learns on its mistakes and capitalizes on its strengths. Mistakes and inefficiencies can be corrected, and so, the business will evolve into a better version of itself, regularly. Advancements also mean changing some of the essential paradigms of our business, like industry, niche, company policies or location. The most tangible and down to earth out of these four is the location in which we have chosen to place our business. Maybe we have made a mistake in our choice, or have most likely, outgrown the needs that the current location offers. Either way, we need a new system by which we will make a choice on a location for our business to operate optimally. Here are some variables to take into account when planning on moving our business.
1. Location Accessibility
Depending on the type of business we are operating, the accessibility of various elements can be crucial. If we require frequent deliveries, proximity to roads and highways will prove to be very beneficial and cost-effective. Renting and purchasing is often more expensive, the deeper in town we go, where density and commercialized areas are increasing in frequency. Seeking a place more out of town is definitely the better option, provided that other aspects are not hampered. On the other hand, we might be the kind of business that relies on customers frequenting our establishment often. This, quite possibly, could prove to be the exact opposite. Our venue needs to be located somewhere easily accessible by cars, buses, trains, etc. Not to forget our employees, this also applies to them. Their work needs to be within reasonable travelling distance, both financially and chronologically sound.
2. A saturated market
Will our proximity to other competing businesses affect our bottom line? Again, it depends on the type of business we are running. Researching on which competitors might find themselves in our proximity can have a great effect on our future operation. Too much competition is definitely a warning sign and would indicate to us to look for greener pastures. Some businesses might benefit from proximity to one another. Take clothing stores, for instance. People can compare different items and their prices between the two, and come to a conclusion much faster. On the other hand, if we have a unique product or service, a saturated market can prove to be very useful to us. Even in a non-receptive environment. By clearly distinguishing ourselves from others, it is a way to pick up customers by the truckload. An area with an already ripe market provides an ideal playground for an operation like that.
3. Future demands
How long will this new location suit our needs? That is an important question. Will it accommodate growth, or a spike in demand, and thus, business volume? Moving entire companies from a location to a location is a very big and costly endeavour. It is not something that will be done every other month, or so. The decision is made on whether we are in it as a short-term solution or a long-haul. It is a subject that requires careful consideration of many aspects of our business past and growth patterns. If it proves to be overwhelming, there are professionals such as Curtis Associates, who specialize in giving answers.
Whether we are picking a location for the first time, or transferring an existing company, moving is a big undertaking. It costs money, time, and effort, so it is for the best to be done right from the start. A perfect location for our business largely depends on the niche and industry we find ourselves in. Covering these areas will give us the best insight into how to choose the best option out there. The future of our business can and will be moulded by the grounds we stand upon.