The physical location of your business will have a great impact on its growth and success. It’s just as important as the quality of the product or service you offer, the marketing strategies you implement, and the employees you hire. That’s why it must take careful thought and planning before you decide on a property to buy.
The professional real estate agents at Jett Blackburn Real Estate have helped numerous companies in and around Burns, OR, find the ideal place to set up their operations. Below, they go over some of the top factors to take into consideration when choosing where to locate your business:
One of the first things to understand is where your target demographic lives, works, and shops. You must know who you’re trying to attract and what their habits are to determine if your products or services will be able to sell in a certain area.
Foot traffic is crucial for businesses. It’s likely that you will want to be in a location that gets quite a bit of foot traffic so you have the opportunity to draw people in. If you’re tucked away on a quiet side street, this can dramatically reduce your profitability.
According to commercial real estate agents, it’s also vital that a business be easily accessible to consumers, vendors, and employees. There should be sufficient and convenient parking, an area for deliveries to be dropped off, and it should be within close proximity to public transportation.
There’s a good chance your budget will play a part in the property you choose, so you must consider all costs above and beyond the initial purchase. Maintenance, utilities, security, renovations, and insurance are all expenses that will be affected by your location.
Before settling into a building, it’s important to know how well other businesses in the area are doing. Think about if you will be able to garner more customers from the traffic they generate and if they hold the same standards you do when it comes to quality and service.
Selecting the wrong location for your business can create problems with profits and longevity. To speak with a knowledgeable real estate agent about your company’s needs, contact Jett Blackburn Real Estate at (541) 573-7206. You can also visit them online to browse current commercial property listings.