Location is key!
Location is key!
In marketing terms, place is one of the Ps in the Marketing Mix, so crucial for satisfying client needs.
It is important that potential clients can easily find your place of business. If it is difficult to find your business or if your signage is not visible then you may end up spending much more on advertising your business.
In choosing a business office or storefront consider:
- Vehicular traffic
- Pedestrian traffic
- How important is coming to your store to your target client
- Whether there would be space for signage
- The best place to erect signage
- The demographic factors of the population in close proximity to your proposed location
- Ease of access to people with disabilities
- Competitors in close proximity to your business
- Zoning regulations
- Parking accommodation on or off the street, etc.
It is important to get it right the first time, especially if you are starting a new business.
If you are unable to do the market research and evaluate a location on your own then consider hiring a market research firm, marketing or business consultant.
Hoping this post was helpful and best of luck!
For over 20 years Dane had been helping professionals, professionally owned businesses an financial services firms grow their wealth, increase profits and reduce taxes.
Dane is a Certified Management Accountant, Chartered Professional Accountant, Chartered Global Management Accountant, Professional Business Accountant, Chartered Management Accountant(UK),Chartered Marketer and Financial Management Advisor. He is an author and public speaker on a variety of small business, tax, wealth management and marketing issues.
He can be reached at 1-888-865-3870 or firstname.lastname@example.org