Good locations last longer

Tuesday 16th May 2017

Choosing the right location for your business is an extremely important decision. Many things need to be taken into account as the location effects customer convenience, operations and equipment, staff parking, competition and much more.

Its benefits and weaknesses can improve your staff’s mentality and customer’s fondness of your company. Or however, if the location is chosen poorly that could cause the demise of your business.

A good location will help your business reel in the benefits of its stability for years to come. Here’s how you can make a good location last for years.

Demographics

You should assess the demographics of your location in two weeks. Firstly, consider the proximity of your location to your customers. For example, if you work in retail then your location is paramount in reaching your target audience. You will want to be central in a town centre or on a high street. However, if your work is primarily computer or online based like a design or marketing industry then location is less important to reaching your demographics.

Secondly, you need to consider the demographics of the local community. If your business is based around local customers accumulating a high percentage of your revenue then there is much to consider. For example, you should think about the local economy and the affluence of the local people and their expendable income.

Accessibility

A well-motivated staff force is key to a successful business. if you are able to keep your employee happy rather than disgruntled with the little things then it will pay off in the long run. Consider parking facilities not just for the day to day convenience for your employees but victors and customers too. The last thing you want is for a potential client to begrudgingly park 15 minutes away for your office and walk in the rain before a meeting. Also, think about disabled accessibility, as a business you should be accommodating to all types of people and all types of disabilities.

Competition

Do you have any similar companies near to your area? Occasionally that can have its benefits, like you can get business from passing traffic. For example, if you are on a high street, or row of restaurant or nightlife chains that you can share the trade. However, if having competitors next to your business is only going to divide rather than share the business then think about going somewhere else.

The infrastructure

Be wary of old building and how the infrastructure is holding up. The support poles or brickwork could be getting worn, damaged or crumbling. If there is any underlying structural problems then this can have devastating consequences for your business.

There are many more aspects of commercial property that can make or break your businesses future. The foundations of your business are just as important as the day to day activities. Having the right commercial property can give your business a stable and successful future.

Towndoor are Yorkshire’s leading property developer. Towndoor have nearly 30 years commercial property experience. For more information on how we can help you and your business call us now on 01484 850015.

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