subject: Consider a few factors while you look for a business location [print this page]
Oftentimes, while scouting for the right location for your business, affordability is a crucial determinant. However, there are several other factors that you must consider before finalising a business location right from transportation accessibility to parking spaces. It is important that you assess all your options and work in tandem with real estate agents in Dubai while you determine the right location for your business.
Choosing an appropriate business location involves a lot of research. Here, we have outlined a few factors that you must consider while shortlisting a business location; take a look!
1. Consider your customers, partners, and employees. While your business location will have an impact on your trade, it will also impact all your stakeholders too. If your company receives large quantities of goods, choose a location with a warehouse storage space as well as easy transportation options for clients and customers. Furthermore, if you meet with customers and clients regularly, you need an accessible location, which also needs to have reception areas, waiting and conference rooms so you can meet with multiple clients and customers, seamlessly.
2. Consider the demographics of your target audience. You must research different demographic aspects of the desired business location. For example, if your business relies on foot traffic, you will want to position your business close to your target audience. Moreover, significant foot traffic is beneficial for small businesses; hence, while searching for the right location, you must visit the location multiple times during different hours to ascertain the crowd’s ebb and flow.
3. Consider the size of your organisation for parking spots. It is necessary to consider if your employees and clients will drive to your location. If this is the case, parking must be available. Likewise, if meeting with clients and customers regularly is an aspect of your business, you will need convenient parking options for them as well.
4. Consider the zoning maps of your location. One must research zoning maps for the local town or city, which allows you to gauge the business activities that are allowed within the local area. For example, if you own a retail store or a restaurant, you must consider the proximity to commercial zoning. Additionally, a location closer to residential zoning enables direct access to foot traffic in the said area.
5. Consider your competitors. Moving in directly next door to a business rival is a definite no-no. However, being aware of your competitor’s location, you can find a business location that allows you to establish your base, which also enables you to gauge demand for your product or service.
6. Consider other businesses nearby. Apart from considering where your competition is based, consider other businesses within your potential location. These other businesses could attract customers that are in your target demographic, which will enable you to collaborate with other businesses whilst creating prosperous economic conditions for both parties.
If you want an expert’s advice on how to shortlist and choose the best location for your business, reach out to JNM Specialists Real Estate. Business setup consultants DMCC, JNM Specialists will help you make the best decision for your business.
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