Picking a location for your startup

hansyhansy Posts: 1subscriber
edited September 2011 in Grab Bag
Hi Startup Nation.
I was wondering what sort of decisions potential business owners go through in deciding where to set up shop. I'm thinking location is one of those objective aspects that can really make or break a business, so I was curious as to what kind of market research entrepreneurs do (or don't do). Do business owners typically just leave that area of expertise to the commercial real estate agent? Do many business owners even go through agents?
Thanks!

Comments

  • GaryBarzelGaryBarzel Posts: 1subscriber
    Location is extremely important when opening a shop as well as to keep it running and being successful. By choosing a good location you are guaranteeing that the potential for attracting many customers is there. If you were to move in to a cheap place but the location isn't good, then it won't serve you any purpose other than having an empty shop. I would do my own research when it comes to opening up a business in a specific location, as I would want to be sure it is right for my business, and the real estate agent isn't just trying to make a commission.
  • qasexperianqasexperian Posts: 0subscriber
    Location is a huge factor in the success of a business. Say you were to open a grocery store. You have to look at the distance people are willing to travel from their homes to reach a grocery store. This will change based on the type of community (urban, rural, etc.) Say that distance is one mile. In that case you would not want to put your business too close to another grocery store because you would have a radius that contained many of the same customers, hurting both of you. Ideally, in this case, you would be able to place your business exactly two miles away from the other grocery store so you do not have to split potential clients with another business.
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