Whether it’s residential or commercial property, every realtor knows that real estate revolves around location, location, location. If you pick the right area for your business, you can attract your target audience and make more money. You also need a facility that gives you everything you need to grow without offering unnecessary features or space that will cost you more money. With such high stakes, you may find yourself torn. Here are some tips on how to find the sweet spot for your new business location.
Find Commercial Leases In Populous Areas:
You want to put your business in a location bustling with people. Downtown locations in expensive cities may cost more than you can afford. However, you can find secondary markets on popular streets in nearby neighbourhoods. There are many different kinds of commercial leases within a city. Bonus points if you can place yourself near public transportation and major highways.
Consider Your Target Demographic:
You don’t only need people around your store. You need the right people around your store. Who do you cater to? Privileged young professionals just out of college or ageing blue-collar workers? You want to surround yourself with people who need and want your product. It may not make sense to place a skateboard shop in a town known for being a retirement community on the same block as three assisted living facilities. The skateboard shop will do better in a family-friendly area with parks and ice cream shops. Place a financial planning office, cruise travel agency, or pet shop in the first location.
Decorate It To Look Like The Part:
Once you find the right location, you need to find the right building. You don’t want to stick out or seem out of place in your industry. Pick a building that uses appropriate building materials and decorate the interior in a way that communicates your brand as soon as you walk into the lobby.
Emphasize People Over Buildings:
The phrase “turn a house into a home” doesn’t usually apply to commercial properties, but it should. Pick a building with both employees and customers in mind. Will they have parking? Will they have comfortable seating? Do they feel welcomed when they walk through the door? While you don’t want to overdo it, feel free to incorporate a couple of personalized pictures, awards, or drawings that prove that the building houses a lot more than consumer goods – it houses a small business family that includes the customer.
A commercial realtor can help you find a desirable commercial building on your budget. Of course, once you lease the space, the real work begins.