Where to house your small business

You have a great idea and you are going to turn it into a small business.Now your next step is deciding where you are going to put this small business you want to have.There are a few things to keep in mind when you are making your decision.

It all starts with knowing how you are going to pay of the building.Would you like to rent, lease, build or buy?Go over your business plan and budget so you know where you stand.Maybe you want to rent temporarily to see how well your business does or maybe you want to lease if you can make the adjustments you need to on the building.Know before you look how you want to purchase the building.

Next know what type of building you are looking for.Do you need an office because your small business offers a service, do you need a store for customers to come to, or do you need a warehouse to store all of your inventory?Maybe your business needs a combination of those or something entirely different.This should be laid out in your business plan.

Look over your market.Know who your market is and where you are going to best reach them.For example if you are selling ice cream then you want to be in a family friendly part of town.If you want to open a lingerie shop then you might want to stay a good distance away from the toy store.Know where you are going to attract people and where you are going to drive them away.

Make sure that there are enough people to make your business float.This is especially true for small towns.If you want to open up a specialty shop then you better know the people in your town are going to shop there.You don't want to open a high end shoe store in a farm town, you just won't have enough farmers' wives with that kind of money.

Choose somewhere that you aren't going to be drowned by the competition.Having competition is okay, but if there are already four business set up that are going to be competition then you may never develop a big enough customer base to stay afloat.

Don't waste your money on something that can't be seen.If you want customers to come to you, you have to be easy to find.Make sure that there is enough room for a good sized sign and that there will be somewhere for people to park.If it is too much trouble for people to come by then they won't.

Check into the property values in the area.You need to know that you are paying the right amount.If you know that the area doesn't have very high property values then you can negotiate for a better deal.But also know that the property values may be low for a reason, maybe it is not a good area for business.Find out if there is a high business turn over in the area, you may find out that you don't want to start there.

Chose a place that is easily accessed.If there is constant traffic that is good, but if there is so much traffic that people won't want to fight it then you are going to suffer.Make sure that there is an easy entrance to your parking lot and to your building.If they have to park a block and a half away then they aren't going to be in their best buying mood.

Consider running your small business as a home-based business.If you have a home office or a basement that you can use, then maybe the question of where doesn't have to be an expensive one.Check with your city and county to see if there are any regulations regarding home businesses.This may be an option that works for you.