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The Term Goes Like this: “Location, Location, Location”
May 13, 2008
There's no universal rule for choosing a good business location. It’s important for every business owner to figure out how location will or won’t contribute to the success of the business—and then to choose a spot accordingly. While there is no definitive answer on how to choose where your business should operate, research has revealed some simple guidelines regarding what your customers are likely to expect.
- Entrance and Exits. Your location should be easy to enter and exit. If traffic patterns, medians and/or embankments, make it difficult to turn in or pull out into moving traffic from your facility, your customers may opt to visit your competitor up the road where there is a turn lane or signal.
- Parking. I pass up many interesting looking stores because I can’t find a parking space, or the parking rate is cost prohibitive. Is parking plentiful and close to the entrance? Is it well-lit, well-maintained, and secure?
- The Environment. Customers make assumptions about your business based on your location, landscaping, signage, and architecture. Think about the kind of customers you want to attract and the type of environment that will encourage them to do business with you.
The bottom line is, if you build it they will come—but only if it’s comfortable, safe, convenient, well located and a pleasure to be in. Aren’t those the same elements that you look for in a home?
Posted by Shanu Singh Guliani on May 13, 2008 | Comments (0)
