Where you decide to physically locate your business depends on many factors. Ask yourself the following questions as you make this important decision, and be sure to explore all the factors that affect your business before you sign a lease or buy space:
- Do I need raw materials or supplies? If you are manufacturing or making something that requires certain materials, you may decide to place your business close to a steady supply of them or in an area that is easy for suppliers to ship to.
- Do I need to ship products or travel? If your business requires that you move products or people from place to place, locating it close to easily available transportation will help you reduce costs.
- Do I need workers? If you will need to employ more people as your business grows, locate it in an area where many qualified people are looking for work.
- Who am I competing against? You may not want to locate your business in an area where many other companies are already filling the same niche.
- How fast will I grow? If you anticipate your business will grow quickly, make sure the location you choose can grow with you and accommodate the employees, inventory, and infrastructure you will need.
- What are the zoning regulations? Contact your local planning or zoning board to determine whether the area you are considering is zoned for your type of business. Even home-based businesses must comply with zoning regulations.