Having determined that there is a market for your business idea, you will then need to decide where you will operate from.
Depending upon the type of business you are planning, you may choose from several options. It could be that you wish to start your business in a small way from a home base, or you may be looking at leasing premises from which to operate Whatever the decision before any leases are signed or homes adapted to suit you should consider and assess your future needs and whether the location will fill those needs. It is extremely expensive to relocate, so careful consideration must be made in the first place.
The factors listed below may apply depending upon the type of business you will operate:
- Do you need high visibility to attract your customers?
- Will your location provide easy access to customers (don’t forget handicapped people) both in terms of where it is and how easy it is to get to?
- Will your location be close to transport facilities? This will be a consideration if you need to freight goods or to enable your customers with a convenient way to get to you. Transport is important in places like suburban shopping centres in order to attract customers from other areas.
- Will you have adequate storage and workspace to enable efficient and effective workflow?
- Are you able to access a ready supply of labour?
- Will the location be close to suppliers? Can they access your business easily? This will be important if you are dependent upon the quick supply of goods, for example, fruit and vegetables to be delivered urgently.
- Have you thoroughly assessed the area? When you visit the site, talk to neighbouring tenants, observe the flow of people to the area, and do a rough check as to what people are actually buying. In addition, count how many empty premises there are, or places that appear to be closing down. (With empty buildings, try to find out what happened to the previous tenant. If they were running the type of business you are thinking of opening, you may need to look for a new location). Lastly, look out for the competition in the area and how they are performing. If there is no competition, why not? Perhaps the business idea is not a good one for that location.
Always avoid personal feelings when choosing a location. Just because you like an area, does not mean it might be the right area for your business. You should consider the business location in relation to the potential market you are trying to capture, Your decision must be an objective one based upon research, not impulse. Remember, choosing a location can make or break your business. Choose wisely and actively seek advice.
Restaurant Marketing
Businesses can survive for some time with poor record-keeping, insufficient finance or a lack of management skills, but they cannot survive without a market.
Want to know more about restaurant marketing?
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What our foodie entrepreneur says…
“Linda has a vast knowledge of restaurant and catering management. Lots of information relevant to my business. I’ll definitely download more of her user-friendly eBooks in the near future.” Vanitha Lang (Kastury’s Indian Cuisine).
