How To Choose The Right Commercial Location For Your New Business
Posted on: 15 February 2017
If you're considering starting a business, you're probably already thinking about buying commercial property. Like most people, you probably have a fairly good grasp of the basics. You need a good building with an optimal location that has enough room to suit your indiviaul needs and preferences. Following are other location considerations to take into account when you're weighing various options for commercial property.
Location Logistics
Almost everyone is aware that location is one of the primary drivers in whether or not a business succeeds or fails, so most people seek locations that have a great deal of traffic from potential customers. However, there are other things to take into consideration when determining the right location for your business than just how much overall traffic it gets. For instance, it may be important that your business is located within reasonable proximity to the local work force --- you may get a better deal on property that's situated far enough off the beaten track to make commuting a hassle, but the difficulties in keeping a steady staff may not be worth it. If you rely on steady shipments from suppliers, you may want to look at properties located near rail lines, shipping lanes, or interstate highways. The overall safety of the location should factor in as well.
A less tangent aspect of location is whether the area in question meets the specific branding needs of your business. To put it more plainly, you'll want to be around other types of businesses that draw from overlapping potential customer pools. If you're planning on opening a microbrewery, for instance, you'll attract more customers from a nearby mountain biking shop than you would from a nearby child care center.
Zealous Zoning Regulations
It's imperative to pour through zoning regulations with a fine-toothed comb prior to signing on the dotted line for any property purchase. Even if you don't see anything that confuses you while perusing applicable state, county, and municipal zoning laws, consider seeking the assistance of a knowledgeable real estate professional to ensure that you don't end up making a costly mistake. Prohibitive zoning regulations that you should watch out for include limitations on the hours in which a business can be open in a certain location, limitations concerning signage and decoration, and even limitations on the types of businesses that can be operated in specific areas.
For more information on finding the right property for your business, please feel free to contact your local commercial real estate agent at your earliest convenience.
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