While many start-up mistakes can be corrected later on, a poor choice of location is difficult-and sometimes impossible-to repair.
Types Of Locations The type of location you choose depends largely on the type of business you're in, but there are enough mixed-use areas and creative applications of space that you should give some thought to each type before making a final decision.
When describing the industry, discuss the present outlook as well as future possibilities.
You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business.
One expert will tell you location is absolutely vital to your company's success; another will argue that it really doesn't matter where you are-and they're both right.
How important location is for your new company depends on the type of business, the facilities and other resources you need, as well as where your customers are.It's entirely possible some version of nontraditional space will work for you, so use your imagination.1.Homebased: This is perhaps the trendiest location for a business these days, and many entrepreneurs start at home, then move into commercial space as their business grows.Others start at home with no thought or intention of ever moving.You can run a homebased business from an office in a spare bedroom, the basement, the attic-even the kitchen table.Make it easy for the reader to realize at first glance both your needs and capabilities.The business description usually begins with a short description of the industry.If you're in retailing or if you manufacture a product and distribution is a critical element of your overall operation, then geographical location is extremely important.If your business is information- or service-related, the actual location takes a back seat to whether or not the facility itself can meet your needs.Some executive suites even rent their facilities by the hour to homebased businesses or out-of-towners who need temporary office space.5.Industrial: If your business involves manufacturing or heavy distribution, you'll need a plant or warehouse facility.