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Starting a new business can be the thrill of a lifetime. In front of you, you have the possibility of personal and professional achievement. Times, however, have changed dramatically, and some old adages about business don’t necessarily hold true anymore. “Location is everything” is no longer applicable in today’s digital world. Some businesses begin in basements. Others thrive in old industrial warehouses.
The internet is your storefront now, which allows you to focus your energies on more pressing concerns for your new business venture. With the rapid advancement of technology, you need to worry about location much less than you think.
Here are five elements that should be more important to consider than location when starting your business:
1. Price
Despite the prior two paragraphs, location is still important—just not in a way that you may have considered yet. Certain locations will obviously cost more than others. When you are a fresh, young business, you might decide that your money is better spent elsewhere and pass on that exposed brick property on Main Street for something more affordable.
You also want to consider everything you need in the space you will be renting or buying — shelving, lighting, fixtures, artwork, etc. It’s good to save money when you are looking for office space, but if you go too far, you might wind up missing some of the amenities that you need. It’s a balancing act.
A good rule of thumb is that you should be able to pay the first three months’ rent plus deposit on the space you decide to rent. It is also wise to ask if there are any extra fees or administrative costs, as even small ones can add up, and you’ll be spending more than you wanted before you know it.
2. Accessibility
It’s a great idea for fledgling business owners to find a space that is already within the requirements of the Americans with Disabili… Read More
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