4 Tips for Choosing a Location for Your Business — Lisa Laporte

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7/11/2019

4 Tips for Choosing a Location for Your Business — Lisa Laporte

4 Tips for Choosing a Location for Your Business — Lisa Laporte Lisa Laporte Jun 25 · 2 min read

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The area a person chooses to base their business in can make a huge difference to the company’s overall success. However, there is no single perfect business location for all industries. It is important to carefully consider a company’s needs and target customer base when making this decision. Here are a few things to think about when choosing a business location.

https://medium.com/@lisadlaporte/4-tips-for-choosing-a-location-for-your-business-lisa-laporte-509bb0552670

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7/11/2019

4 Tips for Choosing a Location for Your Business — Lisa Laporte

Desired employees No business can succeed without talented employees, so it is important to find a spot that would appeal to a company’s desired employee type. For example, a business that plans to employ a lot of part time, younger people might do well near a local college while a business that wants cutting-edge, brilliant professionals needs to be near a vibrant local community that supports educated young families. Think about your ideal type of employee and then consider where you might find them.

The company’s culture and style Think about whether a business is going to operate in a formal and high class manner or run a casual and relaxed business. Consider the company’s plans for interior design, product types, and product price points to think about whether a business is best suited to an expensive, artsy, touristy, or down-to-earth neighborhood.

Targeted demographics A business will do best when it is near the type of customers it wants to attract. Before settling on any location, look at local demographics to see if the area contains people in the right age and economic group. Businesses also need to think about the way their customers interact with the business. A fairly confidential business like a plastic surgeon’s office may get more interest if they are tucked in a private out-of-theway part of town while a shop that relies on browsers to buy products needs to be in a spot with plenty of foot traffic.

Logistics The best GPS location is worthless if the building itself is inconvenient for the business and its customers. It is important to make sure that the building is set up for the day-to-day realities of the business. Check to see that it has plenty of parking and delivery doors that let people easily get products. If it is in a big building, talk to the owner about things like heating, air conditioning, and building hours.

https://medium.com/@lisadlaporte/4-tips-for-choosing-a-location-for-your-business-lisa-laporte-509bb0552670

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