Looking for a Home for Your Small Business: 5 Ways to Pick a City
As a small business looking to make its mark on the world, starting out is never easy. Up and coming businesses face all sorts of issues and setbacks – sometimes it even feels like the turbulence will never end. These complications stand as rites of passage for all growing businesses, and the silver lining of success always remains in sight.
When everything else comes with its own set of dilemmas, there’s one thing that can be easy. Yes, we said it – easy. Finding a home for your developing business doesn’t have to be an arduous process. By following this expert advice, you’ll be able to find a city that’s perfect.
Looking for an amazing location for your small business to call home? These tips will help you find a home base that meets all your needs, wants, and dreams.
Find Your Focus
First off, you’ll need to hone in on your business’s areas of focus. This is best achieved by answering some key questions. What is your business trying to accomplish? Who’s your target audience? What are your big picture goals? What accommodations do you require? What are your special needs?
These answers will bring you closer to your main areas of concern, making the entire process of finding a home easier. Above all, the biggest thing about finding the perfect location all rests in how well you know your needs.
Consult Professionals
When you’re deciding on a location, it’s always best to have insight into the market. Even if you’re not yet sure where you want to focus, don’t hesitate to reach out to professionals. Talk to a CRE agent about what your needs are and see if they can point you in the right direction. This way, you’ll get the insider’s scoop on your industry’s hotspots.
Zoom In on the Competition
Don’t be intimidated by your competitors – they may be the key to finding your perfect home. As daunting as the notion is, experts agree that small businesses should always look for a home base surrounding your competitors. “Quite simply, the best place to be is as close to your biggest competitor as you can be,” says Greg Kahn, founder and CEO of Kahn Research Group.
Following this route has many added benefits. First, know that competitors chose their locations based off of positive demographics. It’s also likely that they’ve already been pouring money into advertisements to draw your shared target audience into the region.
When you look at it this way, it’s plain to see how your competition is your greatest asset. It’s about working smarter, not harder. “Why spend the money when they’ve already spent it for you?” asks Kahn. “It’s that easy.”
Plan a Visit
It never hurts to scope out the scene beforehand. The old saying stands true – location is everything. Make sure you’re making the smartest choices for your new business by starting off on the right note. In order to get a first-hand look at your future home options, plan a trip. Not only will you get to explore the city from your audience’s point of view, but you can also schedule in property showings. You never know what you’ll discover until you get out there.
Happy hunting! What tips do you have for small businesses looking for a home?