Choosing an Ideal Location for your Business
For most businesses, location is critical. This is especially true for retail and consumer-oriented goods and services, but the statement can also apply to any operation where physical accessibility for clients is necessary to win the business.
Location decisions can be made once Target Markets are determined. From there, the decision to actually set up a functioning location will depend on the number of customers that can be gained through that area, and at what rate, in order for it to be profitable. Proposed locations can be placed into a prioritized list, and then opened as funds allow, or as preliminary sales are made from an existing location.
Further to making decisions about opening locations (or alternately, selecting distributors who can serve as “arms” of your business), Tenato assists with conceptualizing the location itself. For example, should your location function as simply a distribution hub, or as a showroom? Is it a consultative area for your customers to visit, or merely a holding-place from which you will grab your gear before heading to the customers’ locations? Does it need to be in a high-traffic location, or should it be in a remote or industrial area?
Determining the answers to these questions will help give direction to your commercial realtor, your architect, and your interior designer, and get the most value from your investment.
Once location and its purpose are clear, we carry on to consider your corporate messaging.