How to choose the perfect location for your business

By Derek Lotts

Choosing a business location is one of the most important decisions you’re going to make. It’s going to determine many aspects of your day-to-day company life and it’s practically irreversible (at least if you want to avoid additional spending).

It’s important to have in mind that companies grow and expand fast, and that you need to plan for the business that you want to have, not just the one you have at the moment. Choosing an office that can be modified when the right time comes is the smart way to go.

Taxes

There are ways in which the location of your business could affect your tax returns. In the long-term, it can be more important than the price of the property itself. Property-related taxes are local, which means that the taxes are usually the same in the entire city. However, there are a few exceptions to this rule.

Some cities provide the incentive for businesses to settle within a particular part of town. These zones are usually set up to revitalize those parts of the town that were used for obsolete industries. Such locations aren’t right for every type of business, but you can gain significant tax breaks if your business would fit in such a redevelopment zone.

The perfect customer

By choosing the location of the business you’re also choosing who your customers are. It’s easy to imagine your business catering to anyone and welcoming customers from all walks of life. However, deciding on a niche market allows you to have a more focused marketing campaign and really meet the needs of your clients.

The location of your business will most likely affect the pay grade of your customers, and that’s something that in turn affects your employees and your business as a whole.

Energy efficiency

A modern office needs to be energy efficient and eco-friendly. This isn’t just a savings method; it’s also about your company reflecting the values and the interests of your clients, customers and of the management itself.

It starts by choosing a building with a lot of sunlight at a location that can accommodate green living. If your office is facing the sunny side of the street, you can install a green wall. It’s a design concept that combines plants and traditional office space, providing a healthy working environment while also saving on heating bills.

Connection

No business can survive on its own; you need to have a network of associates and be close to a lot of different services if you want to keep your company running. This is what makes the location essential. If you’re running a retail business, you need to be close to the warehouses that store your goods, but also not too far away from the customers themselves.

There are also other services that you might need on a daily basis, such as banks, lawyers and accountants. All of this should be factored in when you’re setting up shop.

The future

It’s not possible to plan for every eventuality, but you need to at least try if you want to make it in the business world. The area where you decide to pitch your tent can grow and change pretty fast, and that can mean that your business needs to adapt and change as well.

The hardest things to plan for are going to be the prices of property, and therefore the rent. If the area you’ve chosen changes quickly, your rent might go up, which can be a big problem for a new and small business.

Its location can make or break a small business. When you’re choosing where to set up your business, you need to factor in how it will affect your clients, customers, as well as your employees.

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Derek Lotts is a regular contributor at Smooth Decorator and writes about décor, gardening, recycling, ecology and everything related to home improvement. He thinks all of these topics fall under the self-improvement category. He believes in the power of sharing ideas and communicating via the internet to achieve betterment. https://twitter.com/derek_b_lotts

 

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