When starting your own business, choosing where to locate your physical office is an important decision. Consider several factors, such as:
- Type: commercial, industrial, retail, mobile, home-based
- Affordability and space
- Feel & neighbourhood
- Potential for growth
- Local resources available
- Potential client demographics (age, income, lifestyle, etc.)
- Competitors in the area
However, all of these factors are impacted by your own business plan. Before you start your location search, be sure you have a good grasp of your strategic and branding directions, as well as what your business activity will look like. Also, consider all the location costs before hand, so you know what to expect. For instance, over estimate your fees for brokers, real estate agents, attorneys, engineers, architects, zoning, etc.
Entrepreneur provides a list of 22 questions that you should ask about business sites in your consideration.
Here’s an info-graphic on where some start-ups are concentrated in Toronto.
View the full list of Ask A Sales Expert questions and answers.
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