How do I pick a location for my business?

Choosing the right location for your business can be a major factor in its success or failure. Commercial real estate brokers are fond of saying that the three most important factors in establishing a business are location, location, and location. While that may be true for some businesses, for others, locating in a popular, high-cost area may be a mistake. To make sure your space will suit the financial and physical needs of your business, ask yourself these questions:
Is location important for the success of your business? You should determine if your business is dependant on visibility or can you service your clientele from a less visible and usually less costly location. Would a location in a high growth area or an area with certain demographic characteristics important or will your business succeed regardless of this criteria?
How much rent can you afford? Determine a budget for your business is a must. You need to determine how much rent you can afford to pay even in the leanest of times. Overburdening your business with too much overhead can have major implication for your business. In fact, being under capitalized or overextended in your obligations are two of the major reasons that most businesses fail.
Is your proposed location appropriate for what you plan to do there? Zoning ordinances and regulations are laws that define and restrict how you can use your property. Cities, counties, townships, and other local governments adopt zoning plans in order to set development standards to assure that land is used for the common good. Zoning laws come into play on every single real estate development, regardless of how big or small, so if you are thinking about buying property or making improvements to property you already own, you’d better be sure you understand the zoning restrictions before you commit to anything. One zoning use is typically not compatible with another. For example, a commercial building usually cannot be constructed on property that’s zoned for residential uses.
In addition to zoning issues, you need to determine if the size, construction and general attributes of the building you are considering are suitable for you business. For example, do you need truck doors for deliveries? Is the configuration of the office space contusive to your business?
If you try to determine the answers to these question before you begin your search, not only will the search process be less lengthy and more enjoyable but it is more likely that your choice will be the right choice for your business to succeed.