Location, Location, Location

Apr 1, 2012 | Starting Up, Know Thyself First

The location of your business is important. You will be planting your business tree there and will need to be able to maintain it for years to come. Things to keep in mind when deciding on a place to open your business.

Local Economy

Your address can be the first thing people will ask for, and it can say a lot about your business. Is your local area growing and building? Are the market trends good? Even if you have to locate your business further from you home, try to find a place that is building up and bringing people in. The worst thing you can do is pick a place that is in the “bad area of town” because it is less expensive.

Job Market

The amount of money that you will have to spend to pay top dollar for employees or in the recruiting phase should be indicators that you should locate the business in an area with a different employee pool.

Do You Love the Location?

It really helps if you love the community where you work. Become vested in the community by joining the local Chamber of Commerce, Business Association, Visitor and Convention Bureau, City Council Committees and other local organizations that could use your help. Why plan on retiring one day to some great location? Move there now and start your dream business. It’s like a partial early retirement!