Location, Location, Location…When starting your own business one of the first big decisions you’ll make is choosing the location. The location is the core of your business so don’t rush this process. Read the below tips on how you can be sure you pick the right location for you!
Cost- Although many business mistakes can be corrected later, a bad location is sometimes impossible to repair. The most important factor when choosing your location is cost, when opening a new business every penny counts, wouldn’t you agree? The monthly rent is a big chunk of your fixed overhead costs each month so don’t shoot yourself in the foot by making it more expensive than it needs to be. You need to think about the length of your lease as well, ensure you make your location choice future proof!
Visibility/Accessibility – Is your location easily visible? How far can it be seen from? This makes a big difference when it comes to advertisement and general word of mouth marketing. As an Award Leisure franchisee, you can display products out the front of your showroom to show what you have to offer to the passing public and commuters. Being easily accessible its huge for footfall and reaching a much larger demographic. You should ideally locate yourself near motorway exits and main roads.
Community – What community will you be a part of? Buying into a community that is growing and easily accessible is a great asset. Is there any big business nearby, for example shopping centres, universities or tourist attractions? These factors can increase brand awareness and consumer traffic massively.
Competitors – Are any of these businesses like yours? You need to know what other business will be around your location. Researching local competitors can give you an idea of the type of customers that are in that community and if your business will be successful in that location. Award Leisure have some showrooms that are next to other high margin businesses. We also have showrooms that tap into the same market such as garden centres. This all attracts a similar clientele.
By taking these factors into consideration you will make it easier for yourself to find the location perfect for your businesses needs. This is a big part in the start-up process once you have done this, you are one step closer to achieving your business goals!