Setting up your business in the right location can make or break the entire business. The truth is that a right location for your business will make it grow while a wrong or bad location can cause the business to fail. Therefore, when you are thinking of setting up business in a new location, you need to consider some factors in order to choose the right and best location.
Identified below are few things that can help you to set up a business in a new location to build and grow the business of your dream.

1. Your Business Activities

Your business activities will determine where your new business should be located. For instance, your new business location should be close to business district or other retail stores, if you rely on pedestrian and drive-by traffic. These locations have a propensity of having fewer restrictions of signage and advertising to help attract customers to your business. On the other hand, your choice es for location may be more varied, if your business does not depend on customers looking for you.

2. Accessibility to Customers

Customers are the core of all businesses. In other word, your business cannot even exist in the first place without them. Therefore, the location of your new business must be easily accessible to all your customers. Customers like locations they can find and enter easily without hassles. Ensure that your new business location is a place where your clients can enter through many routes with adequate parking spaces for them.

3. Signage and Zoning Regulations

Depending on the location of your business, zoning and signage regulations vary widely. Prior to choosing a location for your new business, verify the zoning laws to ensure that you will not be restricted by the ordinances for that particular location. This is necessary because there are restrictions on the size and location of signs. You can confirm this from the local zoning office for your business area. Bear in mind that if the location has strict zoning regulations, it will not be as favourable as you envisaged.

4. The Location of Your Competitors

You must consider the location of your competitors before setting up your own business or do you want to site your own new business in the same place where there are two other businesses with the same products/services with you? It is strongly recommended that you should not setup your new business near any competitor as much as possible. You will increase your customer base, when you locate your business far away from competitors because they will want to avoid going farther for a product that is near them.

5. Operating and Upgrading Costs

Consider the financial implications of operating and upgrading the new location to meet the standard you want. This is important because this may not worth the benefits of low rent and great location. You also need to put into consideration the way the floor plan will favour your business or produce drawbacks for running the business. Drawing a floor plan of your business to visualise your needs, prior to looking for the location of your business will help you a lot in making the right choice of new business location.
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Good write-up