There are a lot of steps in finding the best commercial space for your business, and besides determining your budget and what you need in a space, location is another extremely important factor. Here are a few tips for choosing the best location for your business, as recommended in the article “How to Find & Lease Retail Space”:
Obviously a main concern is going to be choosing a safe location, both for the benefit of your customers/clients and your employees. If customers feel unsafe, they are not going to want to visit your business, and employees need to feel secure when they enter and leave the premises, or you are going to have a difficult time recruiting and keeping staff. There are resources available, for example mylocalcrime.com, that can help you determine if the area where you are looking is safe.
Make sure that you take into account what highways are near your space or if there is easy access to you through public transportation. This will make you more visible and guarantee that both customers and employees can reach you.
It is important to know where your customer/client demographic is located and try to find a space near this target group or in a place that they will visit. Accessing government census information for an area online is one way to gather data on the population surrounding a space.
#4 Other Businesses
It is important to also take into account what other businesses are nearby. One thing you want to consider is whether there are compatible businesses near the space, which will make your location more appealing. It might seem odd, but you might also consider choosing a location near competitors, because this will guarantee that customers interested in your type of business will be passing through the area. This could be especially beneficial for your business if you are new and still working on building your reputation and attracting customers.
If you are interested in renting commercial real estate and you have already carefully planned your budget and considered your needs, considering the pros and cons of various locations can be a great way to narrow down your options!