Issa Asad Says to Consider These 4 Things Before Locating Your Business
Starting a business may appear to be a very simple process but it is not. In order to ensure that your business is successful, there are very many factors you have to consider. For instance, you have to come up with a business plan that will outline the goals of the business and the strategies that will be used to achieve these goals.
“In addition to having a business plan among other factors, it is also important to carefully consider the location of the business,” said Issa Asad Florida entrepreneur, businessman, and social media expert. Mr. Asad is the CEO of Q Link Wireless and Quadrant Holdings, located in South Florida. He is also the author of 4 e-commerce and marketing e-books that can be purchased on Amazon.
This is an important thing because it determines the people that get to see your business and translates it to the sales you make and consequently our profit margin.
Here, Issa Asad Says to Consider These 4 Things Before Locating Your Business:
This is a broad consideration and it can be categorized into 2; the nature of customers you have and the effect of proximity to your business. This is a very important factor for retailers more than it is for people that are in wholesale and other types of large scale businesses. The other factor is the community; whether the community is economically stable to offer you a dependable client base. Where communities are dependent on one industry, the fall of the industry could have very adverse effects on your business.
2. Accessibility of the location and parking space
Consider how open the location is and how easy or hard it is to access it. Consider the position of the location in relation to ease or difficulty of getting in and out of the parking lot. Consider if the location is easily accessible to the physically challenged people to access. If the location is in another building, find out the time when the main doors close, and what happens to the public utilities like the heating and cooling systems when the office shuts down, among other things.
In most cases, locations with high foot traffic are the best. This is because these locations help to market the products in the shop to the passers-by without spending any money. However, the nature of your business will determine whether you will head to the foot traffic or avoid it. Businesses that require confidentiality tend to benefit more when they are located in areas where they are not easily seen.
4. The competition
This is a major source of information when you are staring and running a business. In terms of the location, you can consider if the competition is in close proximity to the location you want to establish your business. Does their proximity to you affect your business positively or negatively? Comparison shopping and catching overflow are some of the benefits you can get from close proximity to your competitors. If you foresee a challenge due to the proximity, it would be best to find another location.
Locating a business is a very important step that you have to carefully consider before you establish your business. This is important because the location of the business can either positively or negatively affect your business growth and development and even success. Above are the top 4 considerations you should make before choosing a location for your business.