It isn’t just the start of a new year, but a new decade — this will be our “roaring 20s.” As such, you may want to project further than this coming year when setting business goals for your company.
For instance, if one of your goals in 2020 is to move to a new location, expect a lasting effect that will definitely extend beyond a one-year plan. Therefore, having “Find New Location” on your list of goals cannot be a knee jerk decision. Instead, it requires a lot of thought and research to ensure you are making the right decision.
The importance of location.
To state the obvious, location is important because it affects how your customers find you and how often your existing customers visit. Ideally, you want to make it as convenient as possible for your current and potential customers.
Of course, there are other factors that come into play that may not be so obvious.
Increase Brand Visibility
Your location can have a direct influence over your business’s ability to market itself. For instance, depending on your product and service, being located in a financial district would be very different from being located in the arts and culture or distillery district. The area you choose to settle in will reflect your brand, so make sure you are rooted in an area that makes sense.
Once again, depending on your business, suppliers could influence your location. Yes, price and quality come into account, but speed and delivery also impact your team’s productivity and your bottom line. On that note, for better and quicker business operations, consider whether the location you have in mind is easy for suppliers to reach you.
All in all, even with the rise in remote work, collaboration, and virtual offices, location will remain important for any business. Be sure to do your research and choose your location carefully.