What does every business need to succeed? If you answered consistent cash flow, you’re correct. Customers must purchase your products or services in order for you to stay in business. And to do that, they must be able to find your store or shop. After reading this post, you’ll discover how to choose the right business location, so you can achieve your goals and reach success!
Why is location important for a small business?
As we’ve established above, your business needs customers. But it doesn’t just need any customer. It needs consumers who:
- Can afford your offer
- Are interested in your products or services
- Are located nearby and can easily access your place of business
- Find value in your offer, so they continue to come back
In our free guide, 7 Mistakes to Avoid When Choosing a Location for Your Business, we help you identify your target audience. These are the customers most likely to purchase your products or services. After you identify your target audience, you can choose a location near their place of residence.
Can a bad location cause a business to shut down?
Absolutely! Choosing the wrong location can drastically impact the success of your business. So how do you avoid making the wrong decision? First of all, make sure you avoid the mistakes listed in our free guide and ask yourself these questions:
01. Does the location and space match my brand?
Almost everyone judges a book by its cover, and the same can be said about a business. If you’re located in an aged, poorly designed and maintained unit, customers are more likely to have a negative impression of your brand. This can impact their overall experience and can decrease their chances of returning.
Don’t just settle for the cheapest option when shopping for a commercial space. Make sure the location is well-maintained and aesthetically pleasing. Our Erin Ridge Pointe property in St. Albert is brand new and features a modern, attractive design! Learn more about available units by downloading our brochure.
02. Is the location easy to access?
Most consumers will avoid confusion or inconvenience. A location that’s difficult to access or doesn’t have available parking can impact the number of customers visiting your store or shop.
To ensure the location is accessible, drive to it through the eyes of your consumer. Can they view it off of a major road? Are any difficult turns necessary to access your location? Is it located near any bus stops? How is the parking lot? Are there enough stalls, so your customers won’t have to worry about finding parking?
These are all important questions to ask yourself while shopping for a location.
Westwinds Plaza, our newest commercial development in Morinville, is visible and easily accessible from 100 Street. With over 12,000 square feet of space, it’s perfect for any retail stores, fitness centers, quick service restaurants, and more. Download our brochure for more information!
How do you choose the right business location?
Shopping for a business location can be daunting. With so many potential locations to browse through, it can quickly become overwhelming. Any Google search will serve you tons of listings, most of which won’t be the best fit for your business.
01. Search for commercial developers
Rather than look through endless databases of available properties, look for commercial developers who build in locations where your target audience is located. Most developers will have their commercial properties listed directly on their website. From there, you can download any brochures, and, if it’s a good fit, you can reach out to the developer and set up a viewing.
02. Lean on your connections
Searching databases can be time consuming. By reaching out to your network, you can ask other business owners, realtors, or developers if they know of any available locations that would fit your brand.
Lease with Landrex
We have a wide selection of available and upcoming commercial properties for lease and sale. You can view the whole list here. If you’re a medical professional looking for your next clinic location, check out Summit Centre. Located off St. Albert Trail and across from the Sturgeon Community Hospital, your business will have excellent visibility and be easily accessible.
Before you go, don’t forget to download our free guide, 7 Mistakes to Avoid When Choosing a Location for Your Business. So you can choose the right business location and achieve success!