Okay, so you have been having some success with a startup. But it’s been based in your back bedroom so far, not exactly the height of success and this can come across quite poorly to your potential business associates. For that reason, choosing an actual business location for your startup is the next step to securing a bright future for the enterprise.
For that reason, here are some of the key factors you will need to consider when choosing a startup location for your newly established business:
You want to try and base your startup in a place which sparks a lot of life. And, ideally, success. Like for like isn’t always guaranteed, but in all likelihood you may find that if other business is doing well in a location then it is a good place to base yourself. Vibrancy can come across as a good social life, but also somewhere that your competitors thrive. Because if they are doing well in the space then it suggests that you should be able to as well.
Of course, you don’t want to put yourself in a place with too much competition. Try to avoid somewhere too saturated with your competition and you should be able to do well in such a likely vibrant space.
There are many reasons why not every startup ever created is based in London. But, a big one is the factor of cost. The fact is that the likes of London charges a great deal for the privilege of being a business in the city. And it’s not just the rent that costs; business rates and other factors quickly mount up to match.
Of course, if you choose a bigger city then it will likely still be a costly endeavour. So make sure that if cheapness is a factor for you that you make these enquiries and understand the environment well.
Staffing factors are a big consideration when it comes to choosing the location of your startup. You need to make sure that there is a talent pool for your sector in whatever location you choose. As, otherwise, you will find yourself trying to convince people to move to an undesirable location. Perhaps doable if you wish for a more remote-based business, but unhelpful for a traditional business setup.
After all, if you want to start a marketing company then you can almost be guaranteed the talent. Not so much if you choose to set up a similar company in Whitby, for example.
If your business is hard to find, has no public transport close by or is just generally hard to get to it can be a big problem. Especially if you want good employees and your business associates to be willing and able to come to your business premises on a daily basis. The more accessible you make your business, the better.
Ultimately, you may need help when it comes to choosing the right commercial property. In which case a commercial property management expert may be perfect for you. As they can aid you with commercial rent reviews, negotiating contracts and other vital components of setting up your first startup office.