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5 Good/5 Bad Reasons to Select A Site for Your Business

Written on . Posted in Strategy.

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Do you run a business that requires you to meet customers face-to-face to show off your merchandise, make service calls, process transactions, or sell them something? If yes, then the “where” of your business is just as important as the “what or how.”

Five bad (but common) reasons to select a particular site for your business:

  • You have a “gut feeling”.
  • The rent or purchase price is low.
  • It was the best you could do with the time you had to spend on the search process.
  • The neighborhood is known as a “good” or “up and coming” area (whatever that means).
  • You think your customers are in the area.

Now let’s look at five better reasons to make a site selection decision:

  • You have a “gut feeling” that’s informed by extensive data.
  • The rent or purchase price makes sense based on the information you have about the site’s history or potential.
  • You didn’t have to factor time into the equation because your search was made efficient by the use of data.
  • The area is “good” and “up and coming” in terms of your particular customer demographic.
  • You know your customers are in the area.

Every day, hundreds of American businesses make decisions about location that affect their bottom lines. In some cases, it’s a decision that resulted increased profits; for others, it’s a decision that ultimately marks the moment that their business failed. Find out more about what you can do to take the guesswork and headache out of real estate site selection here.