Set up a business: keys to choose the best location
Business location is very important for the success of the business. A good location will provide you with all the benefits you need to rise your business. Let’s discuss the factors to consider while choosing office space. You can consider the peak Cambodia as your office space as it is situated in the heart of the city.
One of the first aspects to take into account when selecting the best location for our business is the competition that is around in that area.
It is always preferable to locate yourself in an area where your business proposal is unique and exclusive and the target audience has no other options to choose from.
However, being surrounded by businesses of the competition is not always bad and is that in some cases we must resort to what they say “if you cannot with the enemy, join him.” Sometimes, we should consider the opportunity to take advantage of the clientele that comes to the rest of our competitors’ businesses.
Above all, it is a great opportunity for those considered “Business to Consumer” (B2C) where most times consumers of this type of business go to shopping areas to avoid having to travel too much.
The influx of the public in the area
The more public traffic passes through our area, the more likely we are to enter our establishment. So, we must place ourselves in crowded areas where there is a large influx of public.
It does not matter if you are in the middle of the street or part of a shopping center, the important thing is that it is a place where your potential consumers walk with a high frequency.
Related to the previous aspect we find the visibility of the business. The more easily and quickly our store is visible, the more likely we are that consumers will enter our store.
Normally, businesses located in a corner usually have a high visibility since they are usually the first to be seen when walking in the area. Also, the premises located in areas saturated with the public go unnoticed, so you must gain visibility through other aspects of marketing such as the shop window, the sign and the colors of the establishment.
Demographic data of potential consumers
In addition to locating our premises in visible areas with a large influx of people, we are interested in the latter being placed within the target audience of our business.
So, when setting up a business it is very important to know the demographic data of the public in the area to know their gender, age, purchasing level and profession. Essential information to assess if our product or service will work in that location.
The environment of the area
Related to the previous aspect, we must consider the environment of the area and apply logic and common sense.
It will not help to locate a fast food restaurant in a luxurious area of Barcelona where people with high purchasing power live. This type of public will not be interested in going to our restaurant to have a gastronomic experience.
In the same way that, in a working-class neighborhood, we will not place a designer clothing store at very high prices where people cannot afford such luxuries.
The closeness of public transport
One aspect that we could consider extra to add points when setting up a business is the proximity to public transport. If our location is near or relatively close to a train station, a bus stop or a taxi area, we will be more likely to come to our area and visit our premises. You can easily find all sorts of transport from the peak Cambodia.
Ease of parking
Another extra aspect that increases the degree of accessibility to our business is the ease of parking. If we are in a commercial area, with a large influx of people but parking is impossible, depending on the type of business we have we will not receive our target audience.
Licenses and regulatory regulations of the location
As is logical, you should take into consideration quickly the regulations that regulate the area that interests you. So, find out about the opening and closing times, holidays or if, for example, you have a bar or restaurant, the terrace legislation to know if you can have one when setting up a business.
Also, make sure you can get the opening license you need to open your business. Despite seeing the business of the competition in the same area, that does not mean that you cannot find problems when requesting it.