Starting Businesses: The Importance of Location

March 23, 2015

We’ve all heard the age-old saying “location, location, location” when it comes to running a successful business. It may even be one of those phrases that you’ve grown so accustomed to hearing, you haven’t really paused for a moment to give it any consideration. But the adage is true – it would be very difficult to run a successful daycare center next to the county jail, or a pet-sitting business next to a major highway. The space that you choose for your business is one of the most important decisions that you will ever make for its success.

I cannot stress this enough to entrepreneurs interested in starting businesses. Always consider your customer base, your product, and the surrounding area. If your product is very appealing to tourists, for example, then a central location near an airport or a major tourist attraction would be the ideal place. If you are interested in opening a small local bakery, then you would probably want to be positioned on a main strip downtown or in a central location convenient to many other stores, as many people choose to indulge in sweets on a whim as opposed to planning ahead for them.

Consider the type of people to which your product would appeal, and then consider the areas in which these type of people are likely to be shopping or residing. You should also consider the practicalities of the location for the product or service you are offering – for example, pet owners might not feel safe letting their pets play outside at your doggie daycare just off the main highway, for fear they might escape and be struck by a moving vehicle.

After you have taken these factors into consideration and decided on just the perfect type of area for your business, contact us at Hartman Income REIT. With years of expertise and many locations from which to choose, we will certainly be able to help you find the perfect location for your business.