Choosing a Location for Your Small Business to Thrive and Succeed
Once you have decided to open a small beading business, the next step is deciding where you want to set up shop. Some entrepreneurs prefer to do business over the Internet or from their own homes, but many people like the hands-on approach and client interaction of a store-front.
There are a few things you need to consider before making a decision on where to locate your business. Determining your company activity is the first step toward locating a good spot, according to the U.S. Small Business Association. Ask yourself the following questions:
Answering these questions will help you understand what to look for when scouting out a venue for your small business. If your company is heavily traffic-driven, such as a gift shop or clothing boutique, you will want to be in an area with many shoppers. A location downtown or a retail shopping plaza might be best for you. If your small business is based on business interaction, you will want to choose a spot that is easily accessible via large roads and highways.
Do you have to go to your customers or do clients come to you?
Do you manufacture goods for distribution?
Do you have employees that need a workspace?
This is one of the reasons why renting a space in a shopping mall costs a large amount of money. Company owners are paying to be near competitors and in turn are increasing their chances of reaching out to a larger client base. Consumers who are all looking for the same thing will visit this location for their needs.
Location is everything when it comes to operating a business.
||Depending on the specifications that apply to your small business, you might have to pay more for space. A vacant location in a highly-populated area naturally has the potential to drive in more traffic. For this reason, you may have to pay a high rent in order to use this space.
Consider how customers in your area move from location to another as well. If most clients are likely to visit your shop via car, you will need a place that has a large amount of parking. Entrepreneurs who live in an urban center should choose a location that is close to public transportation and areas where many people travel on foot.
Although you might try to stay away from your competitors to gain an advantage, choosing a location that is close to them may benefit you when it comes to doing business, according to the SBA. Instead of trying to steer clear of competing venues, wedge yourself in between these businesses to make a name for your company.
It may cost you more money to place your business near a competitor, but there is good reason for this. Research shows that the number of potential customers increases on a per-store basis around a concentration of similar businesses.
Before you make any final decisions on where to place your business, educate yourself on zoning laws. Your local zoning authority can help you determine if you will be defying any ordinances by placing your business in a specific location. Many local governments also require entrepreneurs to apply for permits prior to setting up shop. These licenses are necessary to protect you and the general public from any potential hazards.
Areas can be zoned into one of the following categories: residential, commercial, industrial, recreational and agricultural. Further sub-categories exist as well for certain types of businesses. Zones exist to instill certain restrictions on property owners. Factors that may be regulated through zoning laws include:
Specific ordinances regulate these factors in according to the zoning type. Bulk requirements of an ordinance may limit the amount of stories of a building, the amount of square footage, minimum lot size requirements and the percentage of area that a building covers on a lot.
Height and size of buildings
Building proximity to other structures
Particular kinds of facilities that must be available for certain kinds of uses
Area percentage of a building lot that can contain structures
Once you buy a piece of land for your small business, you must also comply with zoning laws in order to split it into subdivisions. Regulations may require the land to be a specific size or have access to sewer lines.
Zoning laws exist to make sure that all land is used for the good of the common people. Each state and town government has its own set of zoning regulations. Understanding ordinances will help you avoid legal troubles while establishing your small business.
The first step toward making sure you comply with these standards is by contacting your local government. A professional can help you take the necessary action to make your business successful and legal.
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