Location Does Matter: 5 Questions to Ask When Choosing Business Address

The location of a business is a major factor as it can make a huge difference to its success. A business’s address is a key factor in the way that business is perceived as it influence a business’s ability to market itself. There are certain questions for which one should get clear answers.

Question 1: Are customers available at this location for my product or services?

Recently done research proves that these days, companies prefer to go to customers, instead of getting customers to them. The huge popularity of corporate hubs and commercial coworking spaces in Delhi and other metro cities is a proof of the same. At business centres and corporate houses, one can see the abundance of customers of different classes. If you choose these places as your business location, you expose your business directly to the revenue.

Question 2: Is the location appropriate for your company’s branding and marketing?

No company can advertise alcohol as its product in the residential areas. The branding and marketing of your products will be useful where you have your target audience available. You need to be aware of the surroundings, while choosing the location. You might face all those issues, which were not projected or kept in consideration at the initial stage of planning. On the other hand, coworking spaces can be a good spot to hook, where you have targeted and up-class audience available.

Question 3: Does the location, give you the ability to expand your business?

Having a business location, where clients are available in abundance, business plan has to be ready with the expansion plan too. The major challenge companies face when it comes to expand the business in the restricted territory. The business centre, where expansion of the same branch with the existing one is challenging, provides you the ample scope of having the franchise in different locations. Brands like Starbucks, Nandos, Burger King and others are evidence of franchise trend in the market.

Question 4: Will suitable employees want to work at this location?

The qualified employees always have the preference towards better workplace environment and location. The boom in the NCR locations like Noida and Gurgaon is an evidence of this trend. Above all, coworking coming up with advance art-of-infrastructure that any day helping companies to brand themselves in the market and at front of existing as well as prospective employees effectively. Many multinational companies have made their presence felt in the Indian markets, leveraging the corporate business centres and other complimenting facilities.

Question 5: Is the location worth the cost of rent?

It is not easy for any company to get what they pay for. Hence, while cost estimating or rent estimating, planning should cover the contingency plan for either of the situations like business is doing good or not. If the location is appropriate for the business and your business is getting the due visibility, do not consider your rent as a straight expense that needs to be paid off monthly or yearly, rather see it as a potentially worthwhile price to pay for privileged marketing and visibility.