Finding a Location For Your New Business
by Joe Selzler
In the last article we talked about turning your vision into a business. We said that if you worked hard you could have a successful business. However, a successful business does require more than just hard work. It also requires some good, common sense thought. The first thing you will have to think about is where to locate your business. It has been said that when starting a new business the three most important things to remember are "location, location, and location". You may have a great idea for a business, but if you put it in the wrong spot you could fail even before you start. Giving serious thought to the location for your business is a step you cannot afford to miss. Here are a few things that you might consider.
Don't Muscle In!
Obviously, you would not try to sell an icebox to an Eskimo. You would have to assess whether there is a need for what you want to offer in the area in which you wanted to set up shop. If there is not a need for your product in that area, then either you have to look for another area or change your intended product. For example, if you wanted to open a shop selling a good quality ice cream, you could not open in an area that already had a shop selling good quality ice cream. There would be no need for two such shops; you would only succeed in driving your self or the other guy out of business.
There are times, however, when an area could support two of the same type of business. Suppose you wanted to start a small cafeï in your neighbourhood. Should there already be one or two in the area, it is possible that starting another one would not hurt them. What you should do is look at what they are serving and determine if you could offer something different. Obviously, when it comes to food, everybody has different tastes and one cafeï cannot possibly cater to them all. Therefore, opening a new cafeï with a different menu next to an established one can positively affect the area. By being creative with your menu you could raise the standard of food in the entire area. What you would not want to do, however, is open a cafeï with the same menu at cheaper prices. This would only succeed in driving the others in the area out of business and lower the choice and standards for the people who lived and worked there. As a professional business person, you should always choose a location that benefits all.
Consider The Customers You Will Serve
In choosing a location for your business it is good not only to look at the other businesses that already exist, but also at the potential customers. Let's say that you want to open a cafeï or a hotel that caters to families on holiday. You would probably want to be as close to a place of interest as you could. Families on holiday always want to see museums and galleries and castles and such things, so opening near one of these would be ideal. The first thing to do is determine if there is already another cafeï or hotel there. If there is, do not open up one door closer to the museum to try to steal his business--that is unfair. But if there is no one there, go for the premise that is the closest, even if it is just slightly more expensive. Imagine yourself as that tourist. You and your tired body would certainly want to be able to walk out of the museum and walk right into a cafeï for coffee within the shortest possible distance. It may cost you more, but your customers will be happier for it.
Business Was Meant To Be Uplifting!
Locating your business is a very important first step in the process of running your own business. And whether you are starting a business in the hospitality industry or in another area, the principles are the same: 1) Locate where there is a need; one that is not already being met. 2) Position yourself so that you best fill that need; that is where your customers will need you the most. Finding the right location may cost you something. You may have to alter your dream a bit, or you may have to move to an area other than the one you most wanted. However, there is one thing that should drive all your business decisions, and especially your decision on location. Always bring a lift to the places and people you serve. Always work in such a way that you are the catalyst for improving your environment. After all, that is the commission given to us by the Creator when he told our first parents to; "Be fruitful and multiply, and fill the earth and subdue it; and have dominion over the fish of the sea and over the birds of the air and the over every living thing that moves upon the earth." This is what our Creator himself did when he created the earth. In all that he did he improved on what was there, until he came to man, and then he rested. Then he gave us dominion over the earth and told us to lift it up and rule over it. When we operate our businesses right, by locating where we will benefit the area and those in it then we are fulfilling that commission.
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