The Lay Of The Land: Considerations When Building Or Buying Your Business Location

March 19, 2019

When you’re looking to grow your business, especially if you are predominantly online, you need to think about what the real world holds for your expanding company. A business location, whether it’s an office or a store, can be the face of a company and is a logical extension of the brand. But before you get to this point, you need to think about a few key elements.

The Area

Location is vital, and when you think about foot traffic, and how integral this is to the success of any brick-and-mortar store, the area has to tie into a few components. The demographics of your customer, the accessibility of the site, as well as the competition that surrounds the area. In a standard high street, there are so many stores around, that if you’re starting up a business that provides a service that can be done across the road for much cheaper, naturally you’ve got to think more about keeping customers on your side. Choosing the right area isn’t just beneficial for customers, but for the employees, it’s integral. And this is due to things like public transport.

Potential Problems

You can run into potential problems when building a business location, especially if you think it’s going to be a cheaper effort than finding somewhere that already exists. This isn’t the case, but it depends on the business. It might come to the point where you’ve picked a location, but you want to expand, but there are limitations that will get in the way. Something like the land quality could greatly impact your ability to expand. So this is why you need to think about these issues before picking your location. They are components that can help with poor soil quality, vibro stone capabilities being one, but you have to give consideration to the land as an entire entity, not just the costs and the customer.

The Costs

And as cost becomes a major concern for any expanding business, it’s worth calculating if this model is sustainable. Because so many companies operate online exclusively, they believe this saves money in the long run. And when you compare the costs of running an eCommerce store or a business website in comparison to a physical location that has online capabilities, it’s easy to see why so many people just trade online. That’s what you need to think about is if a business location will further improve your brand. It depends on the nature of your business, but a lot of people are making concerted efforts to shop in the real world now. So many people don’t like the impersonal nature of an online store, and they would rather see the products in the flesh. This is where you can take advantage of a physical location.

Whether you’re building or buying, a business location can be the missing link between your online capabilities and the real world. And as the shift is moving back to physical shopping, we can take advantage of this.