No doubt you chose to locate your business based on your company type, the facilities you needed at the time and where your customers and suppliers were or were likely to be.
As you grow or expand into new regions the same factors apply, although there’s always an element of going into unknown territory, irrespective of how many times you’ve applied the formula.
The background
It is a time-consuming operation and a poor choice will set you back from the start. If you are in the retail sector, where you locate your business is one of the most important decisions you can make, if not the most important. It’s pointless sourcing a space where there is little or no footfall, or where your outlet is a distance from your target demographic or busy road arteries. If you manufacture products and distribution is a critical element of your company, you need to consider how far from key motorways or cities you are. If you provide information or service-related products, location is not as important, unless clients in your sector are centred in a specific region and rivals will have a competitive advantage being able to meet them at short notice. Generally though, the facilities are likely to be a more pressing concern and will need to meet your requirements.
What to think about
Your office environment and where you choose to locate your business not only plays a vital part in creating a good impression with your clients, it also plays a key role in motivating and retaining your staff. Visitors and employees will form a perception of your company from its business location or within the first few minutes of a visit. It’s also important to revisit your business plan on a regular basis to ensure the location meets and caters for your growth plans. It’s a good idea to pick a location that has adjacent facilities and space for use, should you need extra as your business grows.
Need to know
Finding the right spot to locate your business is just the start – negotiating a lease for you and your business is just as important as the location itself. Property management consultants relieve some of this burden for you. As well as negotiating leases, they will ensure you are not paying too much for the space you need and advise on other costs such as utilities.
Top tips
Where to locate your business checklist
• Consider your space requirements in terms of quality and quantity – planning ahead will cut costs in the long-term
• Can you distribute easily from your base to all customers and/or your regional offices?
• What signs of regeneration or development are there in the area? Will you reap a longer-term benefit?
• What businesses do you want to be located near? Will a business park make more sense than serviced offices? Do you need to be visible from the high street? Do you need space for stock and storage or parking for your vehicle fleet?
• Carry out thorough research on current health and safety legislation – including fire regulations, the Disability Discrimination Act etc
• Lighting provision also needs to meet health and safety standards
