As you start identifying specific property options, you’ll want to determine if the infrastructure is a good fit for the business. It may be a fabulous location and a cool building, but if the floor layout and infrastructure are not conducive to your business activities, you may need to spend a lot of time and money to try to adapt it – or a lot of time and energy working in a space that doesn’t truly work for you.
In addition to good infrastructure, you’ll need to get all the permits and licenses appropriate for your type of business at that location.
Tip 4: Assess for Accessibility
Accessing your potential business location is more than just about providing a dedicated parking space. Under the Americans with Disabilities Act (ADA), your business location must be accessible to those who have physical limitations or challenges. And it’s more than just having a ramp or wide enough aisles for mobility assistance devices. You also want to consider what might help a visually-impaired customer successfully navigate your business. Being more accessible and inclusive is good for your customers and your business.
Tip 5: Make a Decision Based on Facts
We’ve all been there when looking at a new home – we fall in love with a place before we uncover all its flaws. The same thing can happen when looking for a place for your business. Don’t fall in love with a location before you get all the facts. Do your due diligence to determine if the market, the infrastructure, and the other elements will meet your specific business needs.
And One Final Tip
Running a business requires a variety of skills and expertise. As you add the responsibilities of a physical location, you’ll need more help. Look at building a team of trusted advisors with those additional skills to augment your experience: real estate, construction, taxes, marketing, law, and finance. They can help you make the best decisions based on facts, expertise, and experience.